AIBU to think my friend is overdoing emergency stockpiling?

If you had been expecting say £100,000 you probably won't get as much as that if the economy goes tits up. If you have planned your retirement based on certain figures and the economy crashes, you may find yourself with a LOT less than you had planned.

If we end up in bank collapsing land, you have a certain amount protected but you lose the rest. Given banks had to be bailed out in 2008 this isn't beyond the realms of possibility.

Yes these are possibilities that are being taken seriously as possible outcomes. This is how serious the situation could get. This isn't saying it will, it's saying it could. Massive caveat there but i don't think it can be dismissed out of hand.

I have definitely stocked up. 24 bottles of wine just ordered and probably a couple of gin too. You can never be too prepared!

Yes it does thanks. I think I was confused with the next sentence talking about being above the protected threshold in one bank, but I think RTB was talking about cash there.

I suppose a pension could be OK if you can wait long enough and enough of the investments recover, but how long would that take? 10 years? 20?

Alex Wickham AT Alexwickham

NEW: Andy Burnham has warned the budget will be “challenging” and he will have to take “difficult decisions” because of the deteriorating economic picture

“We will take difficult decisions to make sure the economy remains on track”

“It’s going to be challenging, because the picture around the world is challenging”

That’s a new message from the prime minister who until now has been talking about restoring “hope” to Britain

News slowly catching up...

Most pension pots (defined contribution not defined benefit) are made up of investment units in funds which are stock market based.

If the markets are high a unit might be worth £50, if the markets contract the same unit is worth less so the overall pot is worth less.

This is an academic loss unless you crystalise it by taking money out which involves selling units at the lower price. Conversely of course if you are investing and buying units you will get more for your money which is a good thing.

For those drawing an income from DC pensions or stocks and shares ISAs they will have to sell more units to get the same amount of money in their hands.

Hope that makes sense

Explain more about pensions.

Which one did you choose? It's one of the things I haven't got yet. I look at the loads of them on Amazon and just glaze over in indecision. Tins of beans are soooo much easier!

I ordered a solar/windup/battery radio from Amazon last night. It said more than 5000 of them had been sold in the last month. Was very glad when mine arrived although I haven't tried it yet.
Since we have Amazon UK I was assuming that was just people in the UK. Of course they had dozens of radios so I am only talking about the one I bought.
Sounds like I might have been just in time......

Yes and all I can remember is being told we were not going to lock down and just develop natural immunity. Then like the next day it was lock your door and stay inside. They must have known that was coming but kept us in the dark.

No holidays.
No tech.
No fancy clothes.
No coffees.

Anyone who couldn't afford that already. No benefits. Just food and energy vouchers. That's it. It will be vouchers that can't be spent on anything but essentials. And this will still force over crowding and people to take in relatives or lodgers.

Oh and pensions are going to get hit. Hard. If you are above the protected threshold in one bank, you may be at risk of losing it.

If nothing else the ordinary person will be stretched beyond their means.
Obviously not the MN high earners ( gloaters) but the rest of us.
How the hell can we absorb 9-10% increases on eating and heating?

Hmmm. Geopolitical issues.

So since Yanbu via the big pipe on the Red Sea is a no go, in an effort to not have a complete meltdown is now focusing on trying to get oil out via Oman. This is going to Asian markets not European ones.

Some speculation that the cancellation of the European orders and the decision to ship to Asia is because the Saudis are pissed at Europe for not answering requests to protect it because they are too lazy to fight for themselves.

This is not a good sign.

One thing that can be good to stock up on if you’re into that is dried yeast. Takes no room at all and easy to make flatbread, pan pizza, pita bread etc.

Well I missed the beginning and I wasn't exactly concentrating but there was a lot about inflation, increasing fuel costs and causes (middle east shitstorm), rising costs might rise more (no shit Sherlock), markets braced for more rises (shit all round). Etc. Canada in cahoots with the EU (because everything's shit).

Everything is more expensive (No, really?).
Someone said things are very very serious and global and they hope we have a plan (this is an expert!)
Someone else is outraged and worried (this is an ordinary person).
Citizen's Advice says this shit is no longer temporary it's baked in to life.
The overall picture conveyed was one of suppressed fear that it's all bloody kicking off and it's not getting any better for anyone anytime soon (my interpretation).

What was said please?

BBCR4 lunchtime news is edging towards catching up with us...
Shit must be in vicinity of fan...

I have stocked up on flour, pasta, rice, coffee, peanut butter, olive and coconut oils, and tins of all beans and dried lentils.
We will use them one way or the other.
I have a couple of solar radios too.
I have definitely recommended to close friends to think about it, but it really is their own business.
I believe shortages will be coming so am doing this for my peace of mind.

https://auchem.ae/petrochemical-products/

Absolutely 100% agree 👍

For those getting concerned about "doom and gloom" spiralling - there are a couple of linked but separate issues.

1. It's sensible to have at least a few days supplies of food and water to hand in case of adverse weather, supply chain issues (as per Co-Op, M&S, Jaguar Land Rover etc), payment issues - so shortish term issues which eg an increased threat of cyber attacks makes more real. Keeping a small amount of cash may be helpful too if you can.

1. Avoiding shortages and food inflation. Things are going to go up, poor harvests were already an issue. A global oil shortage, longer shipping routes etc are going to make that worse. How much worse we'll have to wait and see. If you can stock up on things you know you'll consume then prices now are likely to be lower than that will be in 3 months time (or even next week looking at diesel...).

If you have no way of doing 2, then at least do what you can of 1.

If you think it's all rubbish and scaremongering then do your own thing - the store cupboard police aren't going to arrive any time soon!

@WoesFromAuntFlo not silly at all and thanks for posting about that website, I hadn't seen it and it looks extremely useful. 💐

So I ended up using that familyprep site calculator and what we need as a family of 3 for 7 days isn’t awful - I like I can select veggie too. I’ve printed off the checklist and going to gradually get the food (already have some of the bits like torches and spare batteries recommended because we have lots of powercuts).

I don’t think that level of preparedness is silly or doomsday! Or is it?!

I was starting to spiral into a 'doomed! We're all doomed!' mindset and then I had a word with myself. I've got some bottled water in the shed, enough food to see me though a fortnight and I'm keeping the car at least half full of fuel.

Any emergency that goes on for longer than a fortnight is going to involve full-on government intervention, and if that's impossible then law and order will have broken down so far that I probably would have to decamp to one of my kids' houses, where we could share the load, but I doubt that having a stockpile of food and water would help much at all.

I am now absolutely convinced prepping for power cuts at least is a very good idea!

@ASpoonfullOfPuppies and @RedToothBrush I'm always a bit on the doom and gloom side of things but I'm not sure I've ever been so convinced that the shit's about to hit the fan.
It's the combination of climate change having so obviously ramped up, all the wars and conflicts, so many people over the planet displaced and on the move or with their living situations just demolished (wonder how the people in Nepal are faring?) and the fact that we have a greed obsessed prize idiot in charge of the so-called free world. And a few other bits and bobs. Add in an El Niño and voila!

I haven't read the Telegraph article yet but I think I can guess what it says...
I'm very grateful for these kind of threads, I feel less alone and mad.
#TinfoilhatsRus 😂