Anyone doing anything for the inflation that is coming?

[45guy]

Just wondering what others are doing to prepare for the inflation that is here and is going to get worse? I have a stock of silver, ammo and some food items.  Thoughts?

[FUJIMO]

If you don't know and haven't already been doing it's probably pointless to start now.

[Quavodus]

3 hours ago, 45guy said:

Just wondering what others are doing to prepare for the inflation that is here and is going to get worse? I have a stock of silver, ammo and some food items.  Thoughts?

I've been doing for a few months what you are doing. Running out of room to put stuff. 

[Raoul]

[45guy]

I own and run a B to B barter exchange. In other words part of what I do is manage our currency.  For 19 years now my practice has been to not extend loans or print money.  It has worked well to protect the value of our currency.  Wish the Fed Gov would try that.  Currently our currency is tied to the US dollar.  Looking at options for the future. 

[ReeferMac]

15 hours ago, 45guy said:

I own and run a B to B barter exchange. In other words part of what I do is manage our currency.  

I remember hearing about a few instances of that sort of thing in my past life in the print biz up in NY. Interesting stuff, especially with all the stuff going on.

[btq96r]

I'm won't say I'm thrilled with a bit of an uptick in my bacon cost, but the next year or so is going to be choppy as the country and world's economic systems adjust to the year prior and everything therefrom.

Not seeing any scare factor issues in play.  But you all carry on as you like.

[Moped]

8 minutes ago, btq96r said:

I'm won't say I'm thrilled with a bit of an uptick in my bacon cost, but the next year or so is going to be choppy as the country and world's economic systems adjust to the year prior and everything therefrom.

Not seeing any scare factor issues in play.  But you all carry on as you like.

i'm not really seeing it either. Yes prices are creeping up a bit, but considering what we have been through for the last year and 4 months, I kinda expected that to happen.  Not really worried to much about it.  I'm not planning on buying anthing major anyway.

[Erik88]

The cause has changed some over the years, but the overall claim that the sky is falling has remained constant on TGO for 10 years now. Somehow I'm still alive. 

[eRay]

If I were still young and had a mortgage I might consider it less of a problem. I could pay back borrowed money with money that is now worth less than it was when I borrowed it. Unfortunately I am now 70 and living off my savings which are becoming worth less each day. The bank is paying me 1/2 of one percent interest and inflation is going to eat away 10 percent of my savings each year. I am a bit concerned.

[45guy]

Inflation last month was 5.4 % up.  that means if you make 75 k a year you took a pay cut of over 4k.  I think it will get worse as we keep righting off student loans and printing money.  Not sure what the effect will be other that higher prices and lower buying power.  

[Quavodus]

The writing off of student loans erks me something fierce. It's a loan, the last time I borrowed money I had to pay it back with interest. Printing more and more money is a special kind of stupid too.  

[Omega]

I started hedging my bets against any possible inflation by getting into precious metals, mainly lead.

[gregintenn]

4 hours ago, Moped said:

i'm not really seeing it either. Yes prices are creeping up a bit, but considering what we have been through for the last year and 4 months, I kinda expected that to happen.  Not really worried to much about it.  I'm not planning on buying anthing major anyway.

A bit??!!?? Go buy a tank of gas, house, or lumber and get back to us.

[gregintenn]

I’m still riding the stock market as it keeps outpacing inflation.

[Moped]

Just now, gregintenn said:

A bit??!!?? Go buy a tank of gas, house, or lumber and get back to us.

Lumber prices are starting to come down, again.  But if you recall they were very high last summer, when Trump was President.  Housing is ridiculous, because the demand is very high.  I think that there is a bubble forming and soon it will burst.  Gas is where I notice it most.  

[Moped]

3 minutes ago, gregintenn said:

I’m still riding the stock market as it keeps outpacing inflation.

I need to it to keep on going too.  I retire in 9 more years.

[gregintenn]

1 minute ago, Moped said:

I need to it to keep on going too.  I retire in 9 more years.

I retire in ten weeks!

[Moped]

1 minute ago, gregintenn said:

I retire in ten weeks!

Congratulations! I'd love to right now.  But I don't have enough money yet.  I'm out of debt in two and a half years and then I'm planning to max out my 401K. 

[gregintenn]

5 minutes ago, Moped said:

Congratulations! I'd love to right now.  But I don't have enough money yet.  I'm out of debt in two and a half years and then I'm planning to max out my 401K. 

Don’t stop my friend! You are on the right path.

It took me 30 years!

Edited July 22, 2021 by gregintenn

[QuackerSmacker]

On 7/21/2021 at 5:24 PM, FUJIMO said:

If you don't know and haven't already been doing it's probably pointless to start now.

Probably pointless to start on ammo, but definitely not pointless to start on silver.  SLV, bullion, or coins.  Back up the truck!

[hipower]

1 hour ago, gregintenn said:

I retire in ten weeks!

Congratulations! I hope you were/are better prepared than us. I thought we were good...but Biden, inflation, and taxes have changed our position somewhat.

[45guy]

2 hours ago, Moped said:

Lumber prices are starting to come down, again.  But if you recall they were very high last summer, when Trump was President.  Housing is ridiculous, because the demand is very high.  I think that there is a bubble forming and soon it will burst.  Gas is where I notice it most.  

Lumber was no where near as high last summer as it has been lately.  

 Lumber PRICE Today _ Lumber Spot Price Chart _ Live Price of Lumber per Ounce _ Markets Insider

[eRay]

Try buying a new truck. I went to my local Ford dealer last week. I was informed that they were selling all new vehicles at MSRP and there was no negotiating the price. 

 

[brat]