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What to do when inflation rages

 
Economic Prepper

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05/18/2022 02:39 AM
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Re: What to do when inflation rages
We are in the beginning stages of an Economic Collapse. This won't happen overnight but will be a slow boil. You can thank the current Leftist Administration for your suffering.
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05/18/2022 02:40 AM
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Re: What to do when inflation rages
darth  (OP)

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05/18/2022 02:55 AM

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Re: What to do when inflation rages
I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'.

However, look back at other inflation eras and consider how to survive the devaluation of our currency.

1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year.

RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing.

I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter.

My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection.

2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining.

3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down.

Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment.

4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver".

5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings.

The first company I bought was a total disaster. Sometimes I only learn the hard way.

I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point.

Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome.

I hope you all survive what is coming.
 Quoting: darth



Great thread OP! Feels solid!

Ignore the trolls, they just want to distract you from giving more solid advise.

What if they plan on stealing the elections again at all costs, AND war?

Also, if you were selling your property and moving south,
What would you do with your profits? Capital gains will be due next tax season.
I could buy gold and silver and sit on it?
Maybe put a sawmill on my families southern farm?
Or build a few RV sites to rent out ?
Maybe try to find a cheap fix-RR-uper by next tax season and work on that?

Any advise appreciated! Thank you
 Quoting: Citra


Citra, thanks for the kind words.

Also, thanks for reminding me about capital gains! Gotta talk to my brilliant CPA about how to structure any sale. I used 1031 exchanges before to avoid cap gains taxes.

What to do? It depends on your personal situation.

I would advise against simply holding PMs. I think they have their place, but not as your primary investment. Maybe 10% in silver coins.

The sawmill idea is attractive. It's a lot of manual labor, but very useful.

The RV idea is a good one IMHO. More and more middle class people are being priced out of homes and are going to RVs.

I like RV space rentals and storage units as opposed to tenants in a house or apartments. I was a landlord for 20 years, and the tenants were a pain.

I think your best investments are usually in yourself and your self sufficiency. For example, even a small homestead with water, a garden, and chickens to get thru the difficult years ahead.

I am in my 70s, but I am thinking of taking a welding course. It's something I should have learned many years ago. Personal skill improvement.

Like I said, beans, bullets, and bandaids. Basic preps first. A homestead second IMHO.

A skill that will always be useful.

If you do farming, logging, or construction, having the tools is a major investment that can pay off.

I just purchased a big skid steer with a brush hog. I can rent it out for $500/day where I am moving to.

My plan is to team up with a young person who has the skills and is responsible. The Operator can make over $500/day even after paying me my $500 rental.

If you decide to go the equipment route, go see the tractor dealers. Mine was still offering zero down/zero interest for five years. In an inflationary period, that is a guaranteed winner!

Because I am an old man and I love to tell stories:

My Great Uncle Clyde lost his farm in Oklahoma to the Great Depression and the Dust Bowl.

He loaded up his 8 kids, wife, and what they could move in his truck. They ran out of gas and money in Modesto, CA.

Clyde camped by the side of the road. They had nothing left to eat. He took off at dawn walking. Found a farmer digging stumps. Clyde dug stumps all day without food for one dollar.

He returned to their camp. His wife and kids had all earned one dollar each picking lettuce. They ate beans and bread that night.

They worked and saved. Clyde bought five worthless acres that were too dry to farm. He dug in water and sewer lines as well as installed electrical poles.

He opened a trailer park near Modesto after WWII.

He died as a millionaire.

Tough times and tough people!
thinking...
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05/18/2022 02:59 AM

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Re: What to do when inflation rages
...


Prices arw due to shortages. Supply and demand

NOT inflation

Go back to school low IQ moron
 Quoting: Anonymous Coward 78133455


Since covid began, 80% of all the dollars ever created came into existence. You don't think that is inflationary?

Where does such ignorance come from?
 Quoting: Prayandprepare000


Holy shit.
 Quoting: thinking...


True, and not only the dollars, they just print like there is no tomorrow, the inflation is the least of our problem, the inflation is made up, it is controlled, no matter what anyone does there is no escape from the actual reason behind it.
Simply because, there is no tomorrow.
 Quoting: Anonymous Coward 77844279


Well, there's always only the now. Nobody knows what the next five minutes will bring. Our world is run by psychopaths and we're really seeing what that means.
In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined:

With disdain I will throw my gauntlet full in the face of the world,
And see the collapse of this pygmy giant whose fall will not stifle my ardor.
Then will I wander godlike and victorious through the ruins of the world
And, giving my words an active force, I will feel equal to the Creator.

“Looking for consciousness in the brain is like looking in the radio for the announcer.”

– Nasseim Haramein, Director of Research for the Resonance Project


Normalize every aberrant behavior, bring common all deviancy and let fly the reins of morality and reason, then welcome in that utopia that liberals embrace called communism, that which most Americans with but a shard of ethic would immediately recognize as evil.
 Quoting: judahbenhuer
thinking...
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05/18/2022 03:08 AM

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Re: What to do when inflation rages
Armed conflict is the only outcome of hyperinflation.

Get ready.
 Quoting: Anonymous Coward 79368535


Yup, that is how that failed artist became the scourge of Europe.

I seriously think we will have domestic political violence.

I just picked up a book, History of the Third Reich by Bradley. He is a historian who was imprisoned by the Notsees and later by the communists.

He goes into incredible detail on the leadup to the Third Reich. There was fighting among many factions.

Total chaos.

And one man promising to make it all right.

In the end, 50 million dead and Europe in ruins.
 Quoting: darth


Which is why I find it astounding that Europe is all in the proxy war in Ukraine. In addition to the long history of wars in Europe, being the battle ground for two world wars isn't enough? WTF?
In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined:

With disdain I will throw my gauntlet full in the face of the world,
And see the collapse of this pygmy giant whose fall will not stifle my ardor.
Then will I wander godlike and victorious through the ruins of the world
And, giving my words an active force, I will feel equal to the Creator.

“Looking for consciousness in the brain is like looking in the radio for the announcer.”

– Nasseim Haramein, Director of Research for the Resonance Project


Normalize every aberrant behavior, bring common all deviancy and let fly the reins of morality and reason, then welcome in that utopia that liberals embrace called communism, that which most Americans with but a shard of ethic would immediately recognize as evil.
 Quoting: judahbenhuer
Anonymous Coward
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05/18/2022 03:10 AM
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Re: What to do when inflation rages
My boyfriend and I steal small items from the grocery stores. Usually an expensive block of cheese, a chocolate bar, once I took an avocado when they got really expensive. Just something small+luxury & easily pocketable. For some reason, it tastes better when it’s free.
 Quoting: Anonymous Coward 81054972



My daughter goes to Asda and uses a 'scan' for her shopping, then only pays for a few items.

I have to agree, things do taste better when they are free

Back in the 80's when I had a small child, I was young and poor - I always stole coffee, cheese, and nappies

When prices go up and people cant afford things they can usually have they will steal them.....in effect the shops could just leave the prices lower and that would deter anyone from stealing

I had a nice jar of duck fat the other week from Morrisons, should have been 3.50.....slipped into the front of the trolley....ooops!!!
thinking...
No bullshit

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05/18/2022 03:11 AM

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Re: What to do when inflation rages
The best protection against inflation, and meddling by society in general, is minimizing consumption in fiat by becoming as self sufficient as possible. This generally falls under op's category of acquiring productive assets but the end goal is not income generation or wealth preservation. Instead, it is freedom from both monetary and legislative oppression by eliminating unnecessary consumption.

This produces a more resilient and federated society and should be a major initiative for civil defense in a just world imo

Anyhow, good advice about preserving purchasing power during inflation in general, op. I appreciate it.
 Quoting: Anonymous Coward 60467726


Zen. Only what you need.
In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined:

With disdain I will throw my gauntlet full in the face of the world,
And see the collapse of this pygmy giant whose fall will not stifle my ardor.
Then will I wander godlike and victorious through the ruins of the world
And, giving my words an active force, I will feel equal to the Creator.

“Looking for consciousness in the brain is like looking in the radio for the announcer.”

– Nasseim Haramein, Director of Research for the Resonance Project


Normalize every aberrant behavior, bring common all deviancy and let fly the reins of morality and reason, then welcome in that utopia that liberals embrace called communism, that which most Americans with but a shard of ethic would immediately recognize as evil.
 Quoting: judahbenhuer
thinking...
No bullshit

User ID: 78212432
United States
05/18/2022 03:13 AM

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Re: What to do when inflation rages
My boyfriend and I steal small items from the grocery stores. Usually an expensive block of cheese, a chocolate bar, once I took an avocado when they got really expensive. Just something small+luxury & easily pocketable. For some reason, it tastes better when it’s free.
 Quoting: Anonymous Coward 81054972



My daughter goes to Asda and uses a 'scan' for her shopping, then only pays for a few items.

I have to agree, things do taste better when they are free

Back in the 80's when I had a small child, I was young and poor - I always stole coffee, cheese, and nappies

When prices go up and people cant afford things they can usually have they will steal them.....in effect the shops could just leave the prices lower and that would deter anyone from stealing

I had a nice jar of duck fat the other week from Morrisons, should have been 3.50.....slipped into the front of the trolley....ooops!!!
 Quoting: Anonymous Coward 48673379


I've reported both of you demonic trolls.
In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined:

With disdain I will throw my gauntlet full in the face of the world,
And see the collapse of this pygmy giant whose fall will not stifle my ardor.
Then will I wander godlike and victorious through the ruins of the world
And, giving my words an active force, I will feel equal to the Creator.

“Looking for consciousness in the brain is like looking in the radio for the announcer.”

– Nasseim Haramein, Director of Research for the Resonance Project


Normalize every aberrant behavior, bring common all deviancy and let fly the reins of morality and reason, then welcome in that utopia that liberals embrace called communism, that which most Americans with but a shard of ethic would immediately recognize as evil.
 Quoting: judahbenhuer
thinking...
No bullshit

User ID: 78212432
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05/18/2022 03:23 AM

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Re: What to do when inflation rages
I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'.

However, look back at other inflation eras and consider how to survive the devaluation of our currency.

1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year.

RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing.

I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter.

My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection.

2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining.

3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down.

Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment.

4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver".

5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings.

The first company I bought was a total disaster. Sometimes I only learn the hard way.

I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point.

Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome.

I hope you all survive what is coming.
 Quoting: darth


I made a post, earlier, where I wrote the name of that German republic that had the infamous inflation and IT WAS BLOCKED. I had to re-write the post and say "German republic". What do you make of that?
 Quoting: thinking...


Weird. Must have offended some German?
 Quoting: darth


Indeed. Amish.

Seriously, can you believe that shit? (((Banksters))) running GLP?
In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined:

With disdain I will throw my gauntlet full in the face of the world,
And see the collapse of this pygmy giant whose fall will not stifle my ardor.
Then will I wander godlike and victorious through the ruins of the world
And, giving my words an active force, I will feel equal to the Creator.

“Looking for consciousness in the brain is like looking in the radio for the announcer.”

– Nasseim Haramein, Director of Research for the Resonance Project


Normalize every aberrant behavior, bring common all deviancy and let fly the reins of morality and reason, then welcome in that utopia that liberals embrace called communism, that which most Americans with but a shard of ethic would immediately recognize as evil.
 Quoting: judahbenhuer
Anonymous Coward
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05/18/2022 03:27 AM
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Re: What to do when inflation rages
There is NO inflation you moron
 Quoting: Anonymous Coward 78133455


whatever Pedo Joe.
thinking...
No bullshit

User ID: 78212432
United States
05/18/2022 03:30 AM

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Re: What to do when inflation rages
I agree with you OP but these boards are getting hit really hard with shills for the fed. That tells me we're closer to the breaking point that I originally thought.

They literally hunt out every honest call and tear in like a pack of wild animals. They're getting scared now.
 Quoting: Anonymous Coward 80562797


I've been saying it around here for months...

They're raising rates and spiking the dollar but it isn't stopping inflation.

That's why they're freaking out.

The dollar will rise, rates will rise, real estate will rise, stocks will rise, and worst yet Commodities and Energy will rise.

They believed all they had to do was raise rates to stop inflation but it's not going to work and when it doesn't work they will have no idea how to stop what they've unleashed.

This is the real crisis.

The OPs advice is very very solid.
 Quoting: Anonymous Coward 82121352


Correct. OP gave excellent advice. Yup inflation will rise and you'd better get ready.

The federal reserve and the central banks are behind this inflation and the impending economic collapse. They're printing money like there's no tomorrow and it's all by design in order to hand it over to each other and buy up all the properties and small businesses across America. They're doing it as we speak. They're buying it all.

Part of the "you'll one nothing and you'll be happy" agenda of the reset.
 Quoting: Anonymous Coward 79678269


Did you happen to see the video of the psychopath Israeli, talking to Klaus Schwab, where actually said "what do we need all of these useless people for"? He's a transhumanist and expounds how they will replace God and decide who evolution plays out through scientific and technological intervention.
In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined:

With disdain I will throw my gauntlet full in the face of the world,
And see the collapse of this pygmy giant whose fall will not stifle my ardor.
Then will I wander godlike and victorious through the ruins of the world
And, giving my words an active force, I will feel equal to the Creator.

“Looking for consciousness in the brain is like looking in the radio for the announcer.”

– Nasseim Haramein, Director of Research for the Resonance Project


Normalize every aberrant behavior, bring common all deviancy and let fly the reins of morality and reason, then welcome in that utopia that liberals embrace called communism, that which most Americans with but a shard of ethic would immediately recognize as evil.
 Quoting: judahbenhuer
thinking...
No bullshit

User ID: 78212432
United States
05/18/2022 03:34 AM

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Re: What to do when inflation rages
I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'.

However, look back at other inflation eras and consider how to survive the devaluation of our currency.

1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year.

RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing.

I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter.

My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection.

2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining.

3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down.

Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment.

4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver".

5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings.

The first company I bought was a total disaster. Sometimes I only learn the hard way.

I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point.

Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome.

I hope you all survive what is coming.
 Quoting: darth

.




we would be dealing with inflation if your paycheck would be bigger each month, is it bigger?




.
 Quoting: Anonymous Coward 80585819


OMG

putin
In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined:

With disdain I will throw my gauntlet full in the face of the world,
And see the collapse of this pygmy giant whose fall will not stifle my ardor.
Then will I wander godlike and victorious through the ruins of the world
And, giving my words an active force, I will feel equal to the Creator.

“Looking for consciousness in the brain is like looking in the radio for the announcer.”

– Nasseim Haramein, Director of Research for the Resonance Project


Normalize every aberrant behavior, bring common all deviancy and let fly the reins of morality and reason, then welcome in that utopia that liberals embrace called communism, that which most Americans with but a shard of ethic would immediately recognize as evil.
 Quoting: judahbenhuer
Oracle Prime

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05/18/2022 03:40 AM

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Re: What to do when inflation rages
RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing.

 Quoting: darth


While I agree with most of what you said, real estate is just out of range for many of us middle class people when a house goes for $450,000+
thinking...
No bullshit

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05/18/2022 03:46 AM

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Re: What to do when inflation rages
I agree with you OP but these boards are getting hit really hard with shills for the fed. That tells me we're closer to the breaking point that I originally thought.

They literally hunt out every honest call and tear in like a pack of wild animals. They're getting scared now.
 Quoting: Anonymous Coward 80562797


I've been saying it around here for months...

They're raising rates and spiking the dollar but it isn't stopping inflation.

That's why they're freaking out.

The dollar will rise, rates will rise, real estate will rise, stocks will rise, and worst yet Commodities and Energy will rise.

They believed all they had to do was raise rates to stop inflation but it's not going to work and when it doesn't work they will have no idea how to stop what they've unleashed.

This is the real crisis.

The OPs advice is very very solid.
 Quoting: Anonymous Coward 82121352


I don't believe they are freaking out. This is intentional to do the great reset. "You will nothing and be happy", anything you need, you'll rent". Translation: We're gonna blow up the global economy and then we'll own everything. It's feudalism.
In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined:

With disdain I will throw my gauntlet full in the face of the world,
And see the collapse of this pygmy giant whose fall will not stifle my ardor.
Then will I wander godlike and victorious through the ruins of the world
And, giving my words an active force, I will feel equal to the Creator.

“Looking for consciousness in the brain is like looking in the radio for the announcer.”

– Nasseim Haramein, Director of Research for the Resonance Project


Normalize every aberrant behavior, bring common all deviancy and let fly the reins of morality and reason, then welcome in that utopia that liberals embrace called communism, that which most Americans with but a shard of ethic would immediately recognize as evil.
 Quoting: judahbenhuer
Geena M

User ID: 82837575
New Zealand
05/18/2022 03:52 AM
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Re: What to do when inflation rages
Thank you so much for this.

I especially loved your story about Uncle Clyde and can see you have the same spirit.

God bless.

Last Edited by Geena M on 05/18/2022 04:00 AM
Citra

User ID: 79169555
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05/18/2022 03:55 AM
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Re: What to do when inflation rages
I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'.

However, look back at other inflation eras and consider how to survive the devaluation of our currency.

1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year.

RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing.

I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter.

My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection.

2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining.

3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down.

Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment.

4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver".

5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings.

The first company I bought was a total disaster. Sometimes I only learn the hard way.

I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point.

Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome.

I hope you all survive what is coming.
 Quoting: darth



Great thread OP! Feels solid!

Ignore the trolls, they just want to distract you from giving more solid advise.

What if they plan on stealing the elections again at all costs, AND war?

Also, if you were selling your property and moving south,
What would you do with your profits? Capital gains will be due next tax season.
I could buy gold and silver and sit on it?
Maybe put a sawmill on my families southern farm?
Or build a few RV sites to rent out ?
Maybe try to find a cheap fix-RR-uper by next tax season and work on that?

Any advise appreciated! Thank you
 Quoting: Citra


Citra, thanks for the kind words.

Also, thanks for reminding me about capital gains! Gotta talk to my brilliant CPA about how to structure any sale. I used 1031 exchanges before to avoid cap gains taxes.

What to do? It depends on your personal situation.

I would advise against simply holding PMs. I think they have their place, but not as your primary investment. Maybe 10% in silver coins.

The sawmill idea is attractive. It's a lot of manual labor, but very useful.

The RV idea is a good one IMHO. More and more middle class people are being priced out of homes and are going to RVs.

I like RV space rentals and storage units as opposed to tenants in a house or apartments. I was a landlord for 20 years, and the tenants were a pain.

I think your best investments are usually in yourself and your self sufficiency. For example, even a small homestead with water, a garden, and chickens to get thru the difficult years ahead.

I am in my 70s, but I am thinking of taking a welding course. It's something I should have learned many years ago. Personal skill improvement.

Like I said, beans, bullets, and bandaids. Basic preps first. A homestead second IMHO.

A skill that will always be useful.

If you do farming, logging, or construction, having the tools is a major investment that can pay off.

I just purchased a big skid steer with a brush hog. I can rent it out for $500/day where I am moving to.

My plan is to team up with a young person who has the skills and is responsible. The Operator can make over $500/day even after paying me my $500 rental.

If you decide to go the equipment route, go see the tractor dealers. Mine was still offering zero down/zero interest for five years. In an inflationary period, that is a guaranteed winner!

Because I am an old man and I love to tell stories:

My Great Uncle Clyde lost his farm in Oklahoma to the Great Depression and the Dust Bowl.

He loaded up his 8 kids, wife, and what they could move in his truck. They ran out of gas and money in Modesto, CA.

Clyde camped by the side of the road. They had nothing left to eat. He took off at dawn walking. Found a farmer digging stumps. Clyde dug stumps all day without food for one dollar.

He returned to their camp. His wife and kids had all earned one dollar each picking lettuce. They ate beans and bread that night.

They worked and saved. Clyde bought five worthless acres that were too dry to farm. He dug in water and sewer lines as well as installed electrical poles.

He opened a trailer park near Modesto after WWII.

He died as a millionaire.

Tough times and tough people!
 Quoting: darth


Great story! Hard work really does pay off.

I love the skid steer and brush hog idea, more people are moving away from the big cities and buying up farm country properties and don’t have the skills to manage them nor the physical abilities to work them in lots of cases.
I might look into doing something similar since I enjoy operating equipment.
Thanks for the idea!

Wood working is also fun, I’ve been considering learning how to make custom cabinets and stuff like that. It’s amazing how much people will invest into their kitchens! Maybe not so much in the days to come as money gets tighter.

“ The RV idea is a good one IMHO. More and more middle class people are being priced out of homes and are going to RVs.”
-what do you think will happen with the housing market? Do you see a crash coming?
Property values in upstate NY are are skyrocketing and their is a lack of them available in my area.
I’m headed to Tennessee.
Do you predict that they will keep going up?
If so, The RV idea really does sound great!
Truth is light, light is truth
Anonymous Coward
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05/18/2022 03:57 AM
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Re: What to do when inflation rages
I agree with you OP but these boards are getting hit really hard with shills for the fed. That tells me we're closer to the breaking point that I originally thought.

They literally hunt out every honest call and tear in like a pack of wild animals. They're getting scared now.
 Quoting: Anonymous Coward 80562797


I've been saying it around here for months...

They're raising rates and spiking the dollar but it isn't stopping inflation.

That's why they're freaking out.

The dollar will rise, rates will rise, real estate will rise, stocks will rise, and worst yet Commodities and Energy will rise.

They believed all they had to do was raise rates to stop inflation but it's not going to work and when it doesn't work they will have no idea how to stop what they've unleashed.

This is the real crisis.

The OPs advice is very very solid.
 Quoting: Anonymous Coward 82121352


I don't believe they are freaking out. This is intentional to do the great reset. "You will nothing and be happy", anything you need, you'll rent". Translation: We're gonna blow up the global economy and then we'll own everything. It's feudalism.
 Quoting: thinking...


Read a book about the 1300s. The way the peasants were treated was unimaginable. There was absolutely no recourse to the injustice doled out to those who fell out of favor with the lord. This will be how your childrens’ children will live if the great reset is successful.
darth  (OP)

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05/18/2022 04:03 AM

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Re: What to do when inflation rages
Armed conflict is the only outcome of hyperinflation.

Get ready.
 Quoting: Anonymous Coward 79368535


Yup, that is how that failed artist became the scourge of Europe.

I seriously think we will have domestic political violence.

I just picked up a book, History of the Third Reich by Bradley. He is a historian who was imprisoned by the Notsees and later by the communists.

He goes into incredible detail on the leadup to the Third Reich. There was fighting among many factions.

Total chaos.

And one man promising to make it all right.

In the end, 50 million dead and Europe in ruins.
 Quoting: darth


Which is why I find it astounding that Europe is all in the proxy war in Ukraine. In addition to the long history of wars in Europe, being the battle ground for two world wars isn't enough? WTF?
 Quoting: thinking...


I suspect that the Euros and DC are thinking like Peter Zeihan (check him utube). He says if Putin is successful in Ukraine, that Russia will move on to the next step which is invading a NATO member like Romania or the Baltics.

IMHO, the most dangerous moment is if Russia is LOSING. Putin may make good on his threats to use nukes in that case.

We are damned if we do and damned if we don't.

I used to be more sanguine, but now I fear that we may actually have a nuclear exchange. Once that starts, how does it end?
darth  (OP)

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05/18/2022 04:11 AM

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Re: What to do when inflation rages
RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing.

 Quoting: darth


While I agree with most of what you said, real estate is just out of range for many of us middle class people when a house goes for $450,000+
 Quoting: Oracle Prime


Look farther out.

In Texas the state has Texas Vets Land Loans.

I found 177 acres in the Panhandle for $149,000. It had CRP money coming in as well as some rental from an oil company storing property in an old cotton gin there.

The total cost of ownership after taxes was about $2,000/year.

Use realtor.com or zillow.com and put parameters on the search for cheaper properties.

I was looking for a bugout place for a GLP member a year ago. Found a number of properties in Texas for under $15K.

I hope you can find something.
darth  (OP)

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05/18/2022 04:16 AM

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Re: What to do when inflation rages
Thank you so much for this.

I especially loved your story about Uncle Clyde and can see you have the same spirit.

God bless.
 Quoting: Geena M


Thanks! However, I am nowhere near as tough as Clyde.

He was a bit foolish at times.

Before the Dust Bowl years he went to Mexico, bought bulls, and sold them in the USA. That's right, he was a Professional Bullshipper.

He had 8 huge bulls in a trailer. He arrived at a pasture in Eastern New Mexico out on the prairie. He was all alone.

He opened the back gate of the trailer, but the bulls did not want to get out.

So, he decided he would walk to the front of the trailer and drive them out.

As he slipped into the trailer behind one bull, it felt him behind it.

So, the bull sat down on Clyde breaking both his legs.

Eventually, the bulls got hungry and wandered out.

Clyde sat in that trailer for three days until a cowboy found him.
SmoothSailing

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05/18/2022 04:19 AM

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Re: What to do when inflation rages
bump
"A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear."
Marcus Tullius Cicero
darth  (OP)

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05/18/2022 04:26 AM

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Re: What to do when inflation rages
Ref RE prices, I am not a good forecaster.

However, in previous inflations they often went higher even with high interest rates.

When I moved to CA in 1982 one of my coworkers bought a house with a variable loan at 24%! When rates came down, they had a house at a reasonable price.
Anonymous Coward
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05/18/2022 04:36 AM
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Re: What to do when inflation rages
Americans are double fucked because of the petro-dollar being a reserve currency and because holding the fiat $USD pays next to nothing in saving rates. None of the BRICKS nations want to hold reserves of a hyper inflating currency so they will send those bits of paper back home to buy goods from the USA.

China is using COVID as an excuse not to trade for goods for the defunked $USD so that closes down production in the USA so in effect you will get a flood of USD returning home to the USA and these bits of paper will be chasing fewer and fewer goods which results in even more inflation.

Russia went down without starting WWIII but now it's the Americans turn under the control of those that did 9-11 to yall all. Make no mistake they provoked the bear of Russia in the Ukraine in an attempt to pass the blame on to Putin.
Economic Prepper

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05/18/2022 04:43 AM
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Re: What to do when inflation rages
Cocaine is a great Inflation Hedge. The price rises over time & it has a long shelf life
Economic Prepper
Just Passing Through.....
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05/18/2022 04:46 AM

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Re: What to do when inflation rages
I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'.

However, look back at other inflation eras and consider how to survive the devaluation of our currency.

1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year.

RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing.

I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter.

My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection.

2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining.

3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down.

Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment.


4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver".

5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings.

The first company I bought was a total disaster. Sometimes I only learn the hard way.

I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point.

Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome.

I hope you all survive what is coming.
 Quoting: darth




I have many posts on here ovee tue past 2 years where I've said how much I've been spending at auctions and warehouse sales for metal fabricating and wood making tools.

I've got a barn FULL of metal brakes, presses, lathes, smelters, welding equipment, torches, band saws, drills, even a lumbar saw for wood up to 6ft thick.

Everyone besides my wife thought I was crazy. They don't understand where I'm coming from.

Same for scarp wood and ingots of various metals.

Ive been stacking those too.

I can make almost anything out of wood or metal and fully plan on is living in an era where we can't just buy new replacement padts but fix the shit we have.

I will not let my family starve or be a victim of this collapse

Last Edited by Just Passing Through..... on 05/18/2022 05:03 AM
"She isn't real.....I can't make her real"

"Somewhere between the sacred silence and sleep...Disorder, Disorder, Disorder"

"The World is a business Mr Beale..."

"You depend on our protection yet you feed us lies from the tablecloth......"

ENFJ
darth  (OP)

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05/18/2022 05:20 AM

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Re: What to do when inflation rages
Americans are double fucked because of the petro-dollar being a reserve currency and because holding the fiat $USD pays next to nothing in saving rates. None of the BRICKS nations want to hold reserves of a hyper inflating currency so they will send those bits of paper back home to buy goods from the USA.

China is using COVID as an excuse not to trade for goods for the defunked $USD so that closes down production in the USA so in effect you will get a flood of USD returning home to the USA and these bits of paper will be chasing fewer and fewer goods which results in even more inflation.

Russia went down without starting WWIII but now it's the Americans turn under the control of those that did 9-11 to yall all. Make no mistake they provoked the bear of Russia in the Ukraine in an attempt to pass the blame on to Putin.
 Quoting: Anonymous Coward 83044174


Almost every country in the world has high debt levels now.

China has a HUGE amount of personal and corporate debt.

Russia has other problems. Without outside assistance, their oil and gas production will drop over time.

Ref Ukraine, yes, the Rooskis said they were provoked. However, their idea of provocation and what the Poles, et al, consider to be prudent defense is at odds.

The part I agree with is that a lot of foreign dollar deposits will return to the USA and bid up prices of RE, etc. RE starts to look like a better investment.

Oh, and I reject the idea that some tiny country is orchestrating all of the world's ills. Not a credible CT IMHO.
darth  (OP)

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05/18/2022 05:20 AM

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Re: What to do when inflation rages
Cocaine is a great Inflation Hedge. The price rises over time & it has a long shelf life
 Quoting: Economic Prepper


Yes, but the evil people you would have to sell it to....?
Anonymous Coward
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05/18/2022 05:26 AM
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Re: What to do when inflation rages
Purchase a blow up doll, fuck the inflation?
Anonymous Coward
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05/18/2022 05:46 AM
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Re: What to do when inflation rages
I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'.

However, look back at other inflation eras and consider how to survive the devaluation of our currency.

1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year.

RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing.

I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter.

My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection.

2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining.

3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down.

Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment.

4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver".

5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings.

The first company I bought was a total disaster. Sometimes I only learn the hard way.

I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point.

Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome.

I hope you all survive what is coming.
 Quoting: darth



Great thread OP! Feels solid!

Ignore the trolls, they just want to distract you from giving more solid advise.

What if they plan on stealing the elections again at all costs, AND war?

Also, if you were selling your property and moving south,
What would you do with your profits? Capital gains will be due next tax season.
I could buy gold and silver and sit on it?
Maybe put a sawmill on my families southern farm?
Or build a few RV sites to rent out ?
Maybe try to find a cheap fix-RR-uper by next tax season and work on that?

Any advise appreciated! Thank you
 Quoting: Citra


If you've owned your property for over two years (and lived there for at least two) and the gain is less than 250k you don't owe any taxes.
Anonymous Coward
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05/18/2022 02:20 PM
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Re: What to do when inflation rages
Anyone at risk of losing their homes needs to roll all of their secured debt (motor home, cars, trucks, boats) into their home equity.. That way when they repo the home,, they repo all your secured debt.. starting over with a paid for car or truck and rv is better than starting over with nothing....




tomato
 Quoting: Anonymous Coward 75371007


After a foreclosure, the Liens are gone, so the 2nd mortgage isn't secured by the home as collateral BUT the debts still remain and they will sue you for that. They can garnish wages, attach other property, freeze bank accounts. It also depends on the state law.

[link to www.nolo.com (secure)]





GLP