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Reply to "Nightmare scenario of runaway inflation: top food articles to grow? "
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[quote=Anonymous]Let's envision a worst case scenario where the US government and the federal reserve continue to show complete incompetence wrt getting inflation under control. Recent data show that if you do the exact opposite of how the government calculates inflation and strip out all unnecessary items and use only necessary expenditures on things like food, fuel, clothing, housing, and utilities to calculate inflation, that the inflation rate we are currently seeing is actually over 16%....which is a far cry from the numbers reported for CPI. At home food costs climbed 8.6% while out of home food costs climbed 6.8%. wholesale prices for food are climbing still, which portends even higher prices coming at the grocery store and at restaurants. The producer price index for food reported this month showed 13.4% increase, with grains and beef rising more than 20%. There is also evidence now that the nightmare scenario for economists is actually starting to playing out whereby consumers are starting to horde and stockpile foodstuffs in anticipation that prices will keep rising. The reason that is so bad is because it pulls forward even more spending, thus higher and higher prices become a self-fufilling prophecy.....i.e. you get runaway inflation. So, if you had prepare for runaway inflation and crushing food costs, what are say the top 5-10 things you can grow at home to survive this awful scenario to help combat runaway food inflation? Potatoes? Beets? Many types of squashes with hard skins that can last? What else? What can you plant on smaller yard sizes to prepare for the worst that would balance space available with calorie density and nutrition? Are we going to see the implementation of community gardens to grow food so that neighborhoods have food to eat and they can spend less at the grocery store? Prices are getting out of control. [/quote]
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