The poster's sentiment is correct is saying that it's a good idea to have low-risk resources available as a safety net. However I'd say having physical things like items you know you'll need in the future, or food storage, would be more valuable than having cash. Inflation wouldn't hurt the value of a computer or food you already own. In the other hand, I would imagine investing in gold would be a good idea as well.
Depression, you'll want gold and barterable goods.
Economic collapse or apocalypse, you'll want food, medicine, and alcohol (possibly the most barterable good, also delicious).
In any case anybody reading this in a major city faces non zero likelihood of disaster (take your pick for your city, hurricane, earthquake, tornado, terrorist attack, war) and should be stockpiling 3 liters of water per person in the house per day you want to be able to survive on your own, alongside 2k calories of food, trash bags, etc. I say have a stocked liquor cabinet as well because my experience in Backcountry many week hikes has taught me you can get nearly anything in return for good liquor :)
I've also heard strong arguments for the stockpiling of pornography and certain chemicals that are valuable in tbe production of medicine or just used as general reagents, don't know too much about chemical stockpiling though.
Careful for the prepper rabbit hole, it runs so very deep ;)
Being prepared is not an exercise in mutual exclusivity. You prepare for inflation by owning non-cash assets. You prepare for a rapid drop in the value of stocks and real estate by having cash.
dgzl|7 years ago
komali2|7 years ago
Market slowdown, you'll want your bonds.
Recession, you'll want your cash.
Depression, you'll want gold and barterable goods.
Economic collapse or apocalypse, you'll want food, medicine, and alcohol (possibly the most barterable good, also delicious).
In any case anybody reading this in a major city faces non zero likelihood of disaster (take your pick for your city, hurricane, earthquake, tornado, terrorist attack, war) and should be stockpiling 3 liters of water per person in the house per day you want to be able to survive on your own, alongside 2k calories of food, trash bags, etc. I say have a stocked liquor cabinet as well because my experience in Backcountry many week hikes has taught me you can get nearly anything in return for good liquor :)
I've also heard strong arguments for the stockpiling of pornography and certain chemicals that are valuable in tbe production of medicine or just used as general reagents, don't know too much about chemical stockpiling though.
Careful for the prepper rabbit hole, it runs so very deep ;)
toasterlovin|7 years ago