It doesn’t hurt to keep a few weeks’/months’ worth of frozen and canned foods, bottled water, and powdered milk, etc. on hand. I am starting to do this, getting extra when I shop. This would be good in the event of a disaster or severe inflation. I am a huge Glenn Beck fan, and he recommended this.
Just a little nit to pick - what we have experienced so far is not severe inflation, but rather severe deflation [of asset prices].
In a deflationary environment, you do not want to be invested in fixed assets - you want to be invested in cold, hard cash.
Now that's not to say that Obama & Bernanke won't inflate the currency into the stratosphere, but, for the time being, inflation is not our immediate concern.
Rather, our immediate concern is their gun-grabbing and their creation of a brownshirt civilian defense corps.
And, beyond that, the general breakdown in law and order which will ensue as the USA starts to look less and less like the country we grew up in, and more and more like South Africa or Zimbabwe.