You tell me. Should you invest in stuff people need, or some Metaverse dream? Check this out. Lisa Bannon writes in The Wall Street Journal:
Alexis Abell recently walked out of a BJ’s Wholesale Club outside Buffalo, N.Y., with 24 boxes of Kraft Macaroni & Cheese, a box of 50 frozen mozzarella sticks, a 40-pound bag of basmati rice and a 12-can pack of garbanzo beans.
“I don’t want to be in a position again where I can’t get something,” says Ms. Abell, a 41-year-old mother of five, who was laid off from her retail job at a quilt shop in 2020 and decided not to return to work.
She estimates her family is now spending about 25% more a week on food and staples than before the pandemic, and she is buying more than twice as much of some staples and household supplies.
“The stimulus money is gone, but we’ve gotten used to having more on hand and I’m cooking more at home, so I expect this to continue,” she says.
Retailers and analysts predicted that the bulk buying in the early days of the pandemic, when supplies of many goods were constrained, would subside once people returned to work, stores were able to restock and vaccinations became widespread. Instead, Americans continue to stockpile food and household goods.
Many are spending more time at home and remain uncertain about product availability. Some have moved from tight-spaced apartments in cities to more spacious suburban homes, and inflation is spurring a search for savings by buying in bulk.
Action Line: Why are people putting more money into food storage? COVID food shortages showed Americans how fragile the supply chain is, and they are focusing their investment dollars on what they need, not on superfluous gimmicks like the Metaverse. Americans understand that risk remains high. The Biden administration is not doing a great job, and uncertainty is front and center in their lives. Keep your family ahead of risk in America by clicking here to sign up for my monthly RAGE Gauge alert. You’ll receive my monthly analysis of risk in America and advice on how to prepare your family to meet it.
E.J. Smith - Your Survival Guy
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