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News flash, Social Security is already failing thanks to helicopter Ben and all the QEs. You have already received a defacto cut to Social Security.
I am on Social Security, and I guaran-darn-tee that the check even with the additional COLAs doesn't buy as much food as it did at the beginning of 2008.
I prepare first for the most likely things. Here in tornado alley we have lots of electrical outages, so I am well prepared for those type of emergencies.
When the first spike in oil prices occurred, I began buying lots of extra groceries on sale. Stuff that is shelf stable that we use all the time. Having lived through the great inflation of the nixon/carter years, I remembered very well how the oil spike impacted my budget, and the empty store shelves that followed Nixon's price controls. To me this was just a logical-likely scenario to happen again.
One of the most successful things this time, was that I bought up lots and lots of Peanut Butter first thing-good protein loved by all the picky eaters in my family, plus there was a crop issue likely to shrink supply. Within months the peanut butter I bought for slightly less than a buck went up to $2.25.
All along I have replenished the supply just a little during sales. Now it is down to $1.89 normal price. Had a sale this past week for $1.38. This is the cheapest price since mid-2008. I bought a case. I am now restocked for normal use of 2 years. Beyond that, I might not be able to use it up by the expiry date plus 6 months.
One of the most sure things that will happen to current retirees of modest/middle income is inflation. Even at only 3% inflation, many people have trouble being able to afford to provide the necessities of life during their final decade.
At my age, I can buy those #10 cans of basics that will last for 10 to 30 years, and be sure that I will have good food to eat, and my gardening experiences are teaching me that I can grow plenty of stuff to add to these staples.
I don't necessarily think of this as prepping. Just a way of life, and intelligent financial planning that can be helpful for anyone.
You don't have to believe in SHTF or Armageddon around the corner to know that you need to prepare for more than the 3 days, 2 weeks, and 3 months that even the government and media tells you to do.
My best buys this month so far. Coffee in 34 oz cans for $3.25 per can. The cheapest price for this brand was June 2008 when there was a sale for 5 bucks. I bought a year's supply to add to what I already had. Canned veggies for 38 cents per can. I bought a case of several types to add to the current supply.
Sugar that is normally more than $2.00 I got for $1.69. Added 6 bags to my supply. This sugar has not had a special lower than 1.99 for at least 3 years. Started stocking in cocoa and chocolate the last 2 weeks.
There has been a crop failure and chocolate is likely to go up by December-already reflected in the commodities market. I already have some stocked, but not much comparatively speaking. Now it's a bit higher on the priority list of food stocks.
Well, anyway that's my thoughts and JMHO.
Those are EXECELLENT thoughts greeneyes.
There is alot in play right now and none of it is good.
Hospitals being told to prepare for mass casualty events, nat’l guard units training for grid collapses, increased activity around FEMA facilities.
All this comes first hand from local folks.
Lots of dots to connect and the picture they're revealing is nothing short of UGLY.
Prepare now for suffer later. From what I can tell, we have a few months left. If that.
The upright freezer in my garage has more 1/2 gallon and gallon jugs of clean water frozen in them than it does food stuffs. Since I have a septic tank for household effluence, old trashcans can serve as water for flushing and bathing by merely stopping up the downspouts of the back gutters so the rain water spills over and down into properly placed of cans on the back deck. When a milk jugs is emptied of milk, it gets washed out with cold then hot water, then a splash of 10 to 1 Clorox water, a cold rinse, and filled with filtered water and into the freezer, or dried then collapsed and lid tightly on and into a black trash bag for future filling.
There are lots of little ideas that one can come up with, if a little thought is applied to the things we now waste and things we can do to save and prepare for scare days ahead. I pity the freaks caught in the death zones called 'big cities'. I practice to meet the eventual scurrying survivors who will range out from the death zones to pillage and destroy. THIS is what democrip rule comes down to ...