I’ve been reading around and I guess we’re all already feeling the impact of the recession. 
But, I’ve read that things will get even worse in the next 6-15 months. How are you preparing for it? Would stocking up on supplies before price continues to increase be a good idea? 
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@ria_rose Dreading winter here the UK with continuously rising heating costs
Think you’d be smart to stock up on food especially whilst it’s cheap and available
(Look at the grain markets)
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Yeah. After posting this, I actually decided to go grocery shopping to stock up on some things. 
And let me tell you my surprise when I saw that my usual budget for 1 cart full of groceries barely filled half of my cart now.
Good on you!
The visual difference always resonates more…
That’s true. It really shocked me so I kept on telling me friends and family members to also buy their goods now before prices get even crazier. 
How’s the situation in your country?
I’m in the US and I’ve been trying to prepare by buying more canned and non-perishable foods, bottled water, etc. as I’ve also heard that worse is coming. On the other side though, I wonder if I’m wasting money by stocking up if things are actually going to get better. I think it’s better to prepare for the worst though and I have 3 kids to feed.
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There are days where the shelves seem more empty than usual but nothing ‘major’ yet but there’s a storm brewing
You’re not wasting money if youse use the food- make sure you use the oldest first and you’ll have efficiently in date loop of food
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Do you use oil to heat your home? Some friends in Germany have a giant oil tank /boiler(?)in their basement with space heaters I think.
What are the most expensive essentials where you live @ria_rose ? Here in UK I’d say it’s petrol (gas) - pretty essential if you have to work and the entire rail network is on strike!! Costs £2 per litre. I spend £150 per week on petrol. Fruit and veg also v expensive - prob why people here have high rates of obesity / heart disease. Talking of heart disease, cigarettes are at least £12 per packet (good thing I gave up a decade ago!!) Bread really cheap - even with food inflation can still buy a loaf for £1 (if you don’t mind eating highly processed, crappy bread) - a good quality “artisan” loaf can set you back £5 easily…And don’t get me onto London house prices!
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Oh yes, and I forgot gas and electric. Over £200 per month!
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They say a lot of retailers have a ton of extra goods now that they’ll need to offload but no one will buy. I guess that doesn’t really help us since we don’t need new airfryers or cast iron dutch ovens that are now $100-$200 off. But yes I’m also seeing how expensive things are for farmers and that only means they’ll pass those on to us consumers.
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True, I guess I meant that I feel like stocking up right now when prices are the highest would be a waste if prices go back down in the near future and I still have a stockpile of food. In that case, you could just wait and buy it cheaper, but it’s better to be prepared for the worst.
I would just be more flexible prices are very high right now so you’d be locking a lot of stuff at very high prices
Interesting… not something I’ve ever been made aware of
I’ve heard about the situation in the US from some of my relatives and prices there are really hitting hard. I agree that it’s better to be prepared than to end up with a bigger problem once prices go even higher. 
Aren’t the covid cases in the US on the rise again? 
Are you also stocking up on supplies? Do you observe any shortages in your area?
Petrol is definitely on the top of my lost too! I try to not leave my house as often as I used to since I don’t wanna run out of gas. And public transport is also trash. I can’t bare those crazy crowded terminals, especially during rainy season. As for the prices of other stuff, everything definitely increased by at least Php 5-10. 
If we’re not already in a recession, I’d hate to see what would come next.
But it seems like prices won’t be going down anytime soon. So I’m thinking that the higher prices today would still be a lot lower than the prices in the coming months. I wish I had a backyard garden so I can at least reduce food costs.
Avoiding over-priced items is always good. Being able to set aside some savings is also good in case of emergencies.
But the only real way to make yourself financially secure is through making money. ideally using some technique which is recession-proof. I’m talking about trading.
Forecasts of inflation and recession have motivated me to dump a couple of strategies that were not very successful and bring in two more which should be profitable indefinitely. I now am using three trading techniques across three different holding periods- multi-day trend-following, intra-day opening range break-outs and 24hr daily range break-outs. These parallel approaches should ensure the maximum usage of my account capital.
Economies may rise and fall, but the forex market goes on for ever.
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