Given events in and around the Strait of Hormuz, I’ve seen multiple predictions that (a) this isn’t going to get resolved soon, so that (b) deliveries of oil, fertilizer, and helium (to name three commodities that move through there) are and will be dropping dramatically, leading (c) to price hikes rippling therough the economy far beyond what we’re already seeing at the gas pump.
Given that, I’ve begun to stock up on consumables (cat food and litter) that will very likely be getting more expensive, especially since their weight will make them more costly just to deliver, never mind how their production is affected.
Are you beginning to lay in shelf-stable supplies in anticipation of coming economic shocks?
ETA: I’d already bought a variety of freeze-dried vegetables, chopped and ready for slow cookery, even before the start of this war.
Not yet. Until I see shortages or dramatic price hikes in the offing I’m keeping my shopping normal at this point. If I could somehow stock up on gas I would have done that weeks ago.
Seriously, if a non-perishable item is on sale at the supermarket, I might get more than I usually do. But that’s hardly stocking up in anticipation of higher prices or shortages.
So, you say, you aren’t planning to buy a new computer any time soon? But chips are vital ingredients in all sorts of electronic systems that permeate society.
How big an anticipated price hike would justify hoarding at this point? What’s the sweet spot of store emptiness that justifies panic buying that’s not dangerously close to riot level?
I have no idea how to answer any question of this kind. Thus I’m not doing any unusual buying.
Earlier today, I found a 5-pound bag of King Arthur bread flour that had been opened and then taped shut for $1. I was NOT going to pass that up, that’s for sure.
That’s the way I personally stock up - when I find a bargain of something I know I will use.
I’m glad you’re not holding people up in dark alleys @puzzlegal.
I have always put back things. Canning, freezing from the garden have always been a part of this household. When we buy things we always buy several. Just in case.
My daughter brought home a case of Rotel tomatoes today. 'Cause there was a deal.
Paper products are not that important. But I do have that almost full case of John Wayne TP in garage. Bought well before COVID but roundly hated by all, so still available. Yeah baby!!
well, in an inflationary scenario (like the OP proposes), it DOES make economic sense to “anticipate” purchases … (and of course, anticipating purchases, will fan inflation, so there is a positive feedback loop)
I know from friends in Argentine who - at the height of the inflation crisis - purchased the daily bread in the morning, as it was then cheaper than in the evening of the same day, when coming home from work.
For the same reason, stagflation is so feared by economists, as the opposite is true. “nah … I´'ll wait with the purchase until tomorrow, prices are constantly coming down”
