I've been busy with life the last little while. Last weekend I was at an executive summit learning about how to be a moral entrepreneur and still survive in this topsy-turvy world. Part of the preparation for the summit was to read The Millionaire Next Door. What I took away from the summit was that I had a lot of work to do to realize my own potential and mission in life, and that I need to be conservative in my personal expenditures.
I have been working at this for years, but as I have accomplished some of my goals, I have increased my discretionary spending on some things that really don't matter. By continuing to show restraint, anyone can build wealth. It was interesting to me that the highest income earners are not wealthy. In fact, those who earn the most tend to pay the most in taxes because they are not protecting their wealth.
Food storage is one of my favorite ways to spend conservatively. Using food storage for meals is more cost effective, but more time intensive. With the trouble in the economy, you have two options to build wealth; earn more or save more. Though earning more is not a bad thing, saving more is much easier to do if you are willing to sacrifice what you think you deserve for what you can realistically live on.
Buying unprepared food is less expensive and lasts longer. It is also healthier. You can also teach your kids to fend for themselves in the years to come.
So what does this have to do with Inflation, Hyper-inflation, Deflation or Evaporation? Doomsayers are arguing for their favorite form of doom. No matter what form it might take, having supplies to weather the storm can only help. If the whole economy were to go up in smoke and just evaporate, where would you stand? Is it time for you to prepare?
- Mark
Value is based on perception.
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One thing I can assure you is that the things will not go "up in smoke"... Just like in the Great Depression, people will still live, die, have children, and move on. Also, farmers will continue to grow crops and sell those crops. Meaning, the world completely falling apart argument is laughable to anyone who understand (and appreciates) how our food distribution / production setup is built.
ReplyDeleteThe true fear is not that we cannot feed people, but rather that people like yourself will make people panic and create widespread hoarding. There is not enough food in this world if even 5% start hoarding in mass, I might add.
In short.. Preparing is good. Spreading panic scenarios that make people panic is bad...
I am not asking anyone to panic. I am recommending that people intelligently evaluate their food storage for emergency situations. You have, on the other hand, asked that people rely on a food system that is only as good as tomorrow's delivery trucks.
ReplyDeleteYes, people will still go on with their lives. Farmers may or may not continue to grow food. If they can't get credit to buy seed, they won't have much to harvest. Considering how few family farms are left in America, that risk is higher than ever.
Rather than closing my eyes and saying all is well, I will continue to advise people to be prepared for their own family needs. I have no intention, or delusion, of relying on the government to save me.
As to the comment that I propose hoarding, if you consider storing food and other needs for more than a couple of weeks, yes, I am recommending hoarding. However, a century ago, that was know as common sense.
I think you are right on the ball Mark. Be prepared! Stocking food is a great way to save in my opinion, when inflation/deflation happens at least you will not be forced to pay inflated prices becuase you have sensibly socked "just incase". Lets face it, it's not going to waste, what ever happens you can still use it and, it's not like the price of food is going to go DOWN? I have been "hoarding" for sometime now. The only panic will be from those that have left it too late and the price of bread has already gone up another %15.
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