Your welcome Bob I think it’s good to have some cash anyway in case you need it quickly the banks have been asked to do a stress test for 11% unemployment (lol kind of a joke given what the real numbers are if you factor in all those who have fallen off the roles) and they might want to keep as much cash on hand as they can. There is also a rumor of ATM cash shortages going around.
“There is also a rumor of ATM cash shortages going around.”
Agree, when things go bad, they go bad really, really, fast. You’re basically frozen with whatever you have - be it food, fuel, cash, etc. You simply cannot count on anything being available. For example, I figure that there are about 25,000 families ready to rush to my Sams Club to buy toilet paper on a moment’s notice (once a shortage is declared). By my estimate, last time I was there, that comes out to one roll per family. But what really happens is that he store doesn’t have a contingency plan, so the shelves empty out with the first 100 of those people. From there, as toilet paper trickles in, you wait in line for an hour to get your roll. Meanwhile, that gasoline that you planned to buy next just got snatched up...not to mention food. Of course, that all pre-supposes that you had cash ready, because (as you allude to) that ATM might not be so friendly anymore.
It has happened over and over throughout history, and happens after disasters - although the rest of the country can help there, so it’s short term. But it will be months before things get moving at all, when the big one (i.e., dollar collapse) hits - and it will get very ugly, and very, very, quickly. And it’s only a matter of time, unless the Democrats team up with Republicans to cut entitlements, which I do not see happening prior to the meltdown.