As I eat popcorn watching all the new mcmansions going up here. Just watched a decent house be bulldozed this morning to make way for a bigger one. Covid didn’t slow down construction. The price of lumber isn’t slowing it down. It didn’t slow down during the last housing bust.
Bkmk’ed for disaster.
And it’s coming...
A return to the Carter years. I wonder if disco will make a comeback.
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In hyperinflation, money loose all its value. So you may need to hoard on stuff. Houses with nonadjustable mortgages, gold, silver, foodstuff, collectibles, etc. Just stuff! Company shares should also follow the inflation, if the company delivers real product.
Cash under mattress will became worthless.
Remember - the German postwar hyperinflation lasted not too much than two years. By that time the Mark added 12 zeroes. So what you could buy for a mark, you will need a trillion marks at the end. When they stopped it, they issued new marks, which exchanged with the “old” marks 1 to 1 trillion. Your lifesavings, million dollars under the mattress will not buy you even the lollipop!
And, there were worse hyperinflations in other countries.
Don’t worry folks, we won’t run out of money, they will print more if we need it,...
Ahhh.. Common sense.
I can hold off a small army and be self sufficient, not to mention my close friends said they’re heading my way when the shxt hits the fan.
If they do, holding off the small army will be the entertainment.
you would only want to pay off variable rates debt/loans. The best strategy would be to buy as much as possible with zero down fixed loans, then use the inflated dollars to pay off all of the items.
Sell a box of cigarettes and pay off your mortgage.
Hyperinflation isn’t happening.
Inflation, yes. Hyper? Not even close. Carter will remain the modern champion of inflation.
1. Simplify your finances Check
2. Eliminate adjustable rate debt Check
3. Increase your self-sufficiency Check
4. Fortify your defenses Check
5. Map out an investment strategy now Check
I got everything ready last Jan when I notice the Covid-19 virus in Jan. I was able to expand my property, the unemployed neighbor finally decided to sell to me.
Only worry I have is a future Robinhood government.
How do you buy a loaf of bread in Mad Max town with a 10 ounce gold bar?
Bttt
Toilet paper! Ha, ha, ha! ;)
Buy what you need now.
Take an inventory and see what you need that looks to need replacement in the next few years.
How are you clothes? Linens? Furniture? Tools? Appliances? Gardening and canning supplies? Self defense supplies?
Learn to can. Learn to sew and mend. Learn to fix electrical and plumbing problems.
That sounds like bad advice. A fixed rate mortgage would be very valuable in an inflationary environment. Pay off the loan with ever-cheapening dollars.
Cash is bad because it decreases in value. Material assets are good because they decrease in value slower than cash. Best to buy those tires today instead of next week when they'll be more expensive.
And yeah, I lived through the Carter years.
Original Posting includes questions and information on:
What is inflation ?
Get Your House in Order ?
Know your objective ?
Stay Diversified To Avoid Hyperinflation ?
Metmom : "Buy what you need now.
Take an inventory and see what you need that looks to need replacement in the next few years.
How are you clothes? Linens? Furniture? Tools? Appliances? Gardening and canning supplies? Self defense supplies?
Learn to can. Learn to sew and mend. Learn to fix electrical and plumbing problems "
Develop a self-enhancing, moral building skill, or at least some training books; plan ahead with essential skills or knowledge.
Invest in things that multiply. Personally, I’m fond of seeds. A handful of squash seeds last year produced enough squash that we’re still eating them, along with producing more seeds to share, sell, and plant.