What would you do faced with 50% inflation?

[Hardcalibres]

I really need to dump all this useless money I've saved up. And I'm not being ironic, thats how it feels. Useless.

Find something you will need in the future, that other people will also need (and will be willing to buy "second hand"), that doesn't go bad (and that you have space to store) and the price for which hasn't gone up yet.

That may sound like a tough set of criteria - but you will think of something (or even perhaps several things that you can split your money over - spreading risk).

 

[Aerindel]

Find a company that has been paying a 6-7% dividend, every year, rock solid, for the last 100 years, and buy stock in them.
*This is not investment advice because I didn't mention which company.

Unfortunately, my financial planning experience pretty much tops out at sticking $100 bills in the little wooden box next to my bed.

And like I've mentioned, 6-7% does me little good when my main expenses are up by hundreds of percent.

My only saving grace is that because of the way I live I can basically drop out of the economy for a few years and be fine, other than the boredom.

 

[Aerindel]

Find something you will need in the future, that other people will also need (and will be willing to buy "second hand"), that doesn't go bad (and that you have space to store) and the price for which hasn't gone up yet.

That may sound like a tough set of criteria - but you will think of something (or even perhaps several things that you can split your money over - spreading risk).

Good advice. That may take some serious work to figure out though. The things I'm usually pretty knowledgeable on, guns, old cars, building materials, land etc are suddenly really popular and very hard to get more of.

 

[joel]

You can do what you fill is right, but for myself, Gold is to high, got all the copper & brass I need.
I have way to much electronic & paper money, so that only leave silver & fruit trees, egg & honey.
Maybe red meat on the hoof.

 

[Biggkidd]

It's the little things that get ya. IE: Yesterday we went to TSC for some mineral blocks and bagged feed. I also wanted to get another float valve or two for troughs. First one I bought some years ago was around $5 last one I bought about 2 years ago was $7.99 yesterday they were selling for $29.99 I passed. Feed was up about $2 per bag BUT the protein dropped from 16% to 12%, shrinkflation? Dog food went up $5 for 50lbs since last month.

 

[UrbanHunter]

Wife sent me to the store for a pound bag of something she always uses, went to the store bought 1 bag like she asked (plus a spare, cause I'm me), brought it home. She looked at the receipt and complained that I bought 2 bags, but noted that the price hadn't gone up much. A few minutes later she asks me to bring her the other bag.... The bags used to be 16oz, now they are in grams and are only 12oz, so the price went up a little but the volume went down by 25%...

SURPRISE!

Sure can screw up cooking in the kitchen....

 

[WVDragonlady]

Husband ordered metal for the steel building we're putting up.
Fella told him the price of metal will be going up on the first of the month. He didn't say how much
If you need any type of metal better try to get it now

 

[Alaskajohn]

Wholesale prices rose 7.3% in June from a year ago for a record surge

Wholesale prices rose 7.3% year over year. You know this will pass through to retail prices.

 

[Aerindel]

Husband ordered metal for the steel building we're putting up.
Fella told him the price of metal will be going up on the first of the month. He didn't say how much
If you need any type of metal better try to get it now

structural steel is up 100% already. I needed one piece of structural tubing, normally about $30, now $78.

 

[Biggkidd]

Husband ordered metal for the steel building we're putting up.
Fella told him the price of metal will be going up on the first of the month. He didn't say how much
If you need any type of metal better try to get it now

I caught metal roofing when it was $2.03 a linear foot a week before it went to $3.35!

 

[Alaskajohn]

I need to head into town and pick up metal roofing this week. Hope I beat the latest price increase. I need to get a good amount. I have an older out cabin that needs a new roof, and I just completed an expansion project and I need roofing for that as well. Fortunately, this is all that I need to get to complete this summer's major projects.

 

[Aerindel]

I need to head into town and pick up metal roofing this week. Hope I beat the latest price increase. I need to get a good amount. I have an older out cabin that needs a new roof, and I just completed an expansion project and I need roofing for that as well. Fortunately, this is all that I need to get to complete this summer's major projects.

Let us know. I have a bad feeling yours months too late to get it at a reasonable price.

 

[WVDragonlady]

What we need to cover the whole 18x20ft building including the roof came to $2500

 

[Alaskajohn]

Let us know. I have a bad feeling yours months too late to get it at a reasonable price.

Well, there is blue tarp and duck tape. I have plenty of that!

 

[Tootsie]

It's the little things that get ya. IE: Yesterday we went to TSC for some mineral blocks and bagged feed. I also wanted to get another float valve or two for troughs. First one I bought some years ago was around $5 last one I bought about 2 years ago was $7.99 yesterday they were selling for $29.99 I passed. Feed was up about $2 per bag BUT the protein dropped from 16% to 12%, shrinkflation? Dog food went up $5 for 50lbs since last month.

You mentioned dog food. That caught my eye last week. Science Diet was running about $53 earlier this year, give or take a dollar. This week- $68.99. One of the things disproportionately jumping in price.
Income never rises to match.
But, it won’t be too critical because there’s so many other areas where we can cut corners if we need to.That’s a huge plus to having been in prepper mode for so long. There’s supplies or a plan a or plan b for so much that we could be flexible. And though I like buying dog food, the knowledge built up over time says, hey, we don’t have to buy anything.

 

[Terri9630]

First one I bought some years ago was around $5 last one I bought about 2 years ago was $7.99 yesterday they were selling for $29.99

The little giant ones are still $17 if you can catch them in stock. They used to be $5 for the plastic ones and $10ish for the metal ones.

 

[Biggkidd]

The little giant ones are still $17 if you can catch them in stock. They used to be $5 for the plastic ones and $10ish for the metal ones.

All of mine and the one I was looking at are the metal housing with a plastic float inside.

 

[Supervisor42]

Stealthflation, or shrinkflation?
Went to the store to pick up 4 - 1 gallon jugs of bleach to do the driveway. They had plenty.
I looked at the label.
And just for you guys wanting to adjust your notes:
1 Gallon now = 3.78 quarts.
Please correct your notes accordingly.
Yes, it is real.

 

[Amish Heart]

Check the ice cream. No longer a half gallon.

 

[Supervisor42]

Check the ice cream. No longer a half gallon.

I remember years ago, they hit us right in the weenie. (Hotdogs)
You always bought a pound of hotdogs. Then they became 14 ounces. Well that's just one bite .
Today they are 12 ounces.
Nibble nibble nibble.

 

[Pearl]

I remember years ago, they hit us right in the weenie. (Hotdogs)
You always bought a pound of hotdogs. Then they became 14 ounces. Well that's just one bite .
Today they are 12 ounces.
Nibble nibble nibble.

I knew it, the weenies are getting smaller!!

 

[Amish Heart]

Pretty soon they'll look like vienna sausages

 

[bamadeb48]

What would I do?Without

 

[randyt]

My biggest concern is property taxes.

 

[Hardcalibres]

China has announced they are dramatically reducing steel production.

They intend to reduce steel exports and increase charges on those exports.

 

[UrbanHunter]

I think with the price of everything going up it will be death by a thousand cuts..

 

[randyt]

If memory serves we had a recent president that tried to bring steel production back to the states.

 

[Pearl]

If memory serves we had a recent president that tried to bring steel production back to the states.

I have that same wonderful memory too!! Back in the days when we were energy independent! Oh, that was just last year, the last 7 months feel like an eternity! Just give Donald his job back!!

 

[poltiregist]

When prices get higher than I deem acceptable , I will simply stop buying . My prepping goal is complete self sufficiency , if the electric grid shut down today forever , which of course would also shut down all stores and gas stations , I believe I am ready . As randyt said , I echo his concern on paying property taxes .

 

[angie_nrs]

It's tough finding a 1 pound package of bacon too. They still have them at Aldi, but most of the packages at my local grocery store are 12 oz. A pound of bacon is hardly enough.......WTH with 12 oz???

All the 'pretty' repackaging that distributers are messing with right now have a reason behind them.....mostly being smaller quantities. I'm shocked when I see a new package and the content size is the same.

My biggest concern is property taxes.

Aren't propety taxes capped at a certain percentage per year? It is a concern either way, but runaway inflation shouldn't affect property taxes as much as other things. However, since you can't pre-pay property taxes, it's always prudent to have those funds set aside for taxes.....if you can.