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Wall Street Journal Is Advocating Stockpiling Food – Is This A Recession Or Not?

I have talked before about the issues that could be facing the world’s food supplies before, but for the Wall Street Journal to advocate the stockpiling of food is kind of irresponsible. Here in California, I am already hearing stories on the news about grocery stores limiting how much of certain products (rice, bread, etc) that customers can buy – yes, we are being food rationed out here in some stores. But by encouraging food stockpiling, it will only drive prices even higher for these type of staple items…leading to even more shortages and even higher prices. I am concerned where this all will go, but I don’t think the WSJ needs to be feeding the flames at this point. Everyone is so afraid to call this period of time for what it is – A Recession. But yet they are not afraid to encourage hoarding food and rationing grocery stores? Something has to give here…it is either one or the other. We are either in a recession heading for a depression and we should be doing these types of things, or we aren’t and all is fine (according to President Bush, at least).

So which is it? Should I relax and know everything will fix itself, or do I need to go on a grain and rice buying frenzy? What do you think?


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Comments (10)

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  1. Dave says:

    >Everyone is so afraid to call this period of time for what it is – A Recession.

    Are you kidding me? I’m not hearing anything else… and for the record, we are not in a recession yet, though we are talking ourselves into one. Stockpiling food is just crazy.

  2. david says:

    Dave – you just said it yourself that we are not in one, even after asking if I was kidding if no one would actually say we were in one. “and for the record, we are not in a recession yet, though we are talking ourselves into one” That’s my point- we are in one, but everyone just says “we are close”. Like politics, the goalpost of “what is a recession” keeps moving.

    We are in one…they have been talking about it for over a year and a half now. Food shortages and riots, the dollar not worth anything, layoffs getting bigger and bigger… when exactly does the formal “recession” start?

  3. Jo says:

    Doesn’t a formal “recession” start when there have been two successive quarters of negative growth?

  4. david says:

    The committee that gathers around their crystal ball and announces formally that we are in a depression “usually determines a recession six to 18 months after one begins”. So where does that put us today?

    From Bloomberg as of March 14th:
    Harvard University economist Martin Feldstein, a member of the group that dates business cycles in the U.S., said the nation has entered a recession that could be the worst since World War II.

    “I believe the U.S. economy is now in recession,” Feldstein, president of the National Bureau of Economic Research, told the Futures Industry Association conference in Boca Raton, Florida. “Could this become the worst recession we have seen in the postwar period? I think the answer is yes. I would emphasize the word `could.’ ”

    I don’t think we all need a formal announcement to let us know we could be in trouble. After all, when Wal-mart starts limiting how much rice we can buy, you know something is up…

  5. KMC says:

    Well, if you’re in the monied elite like president Bush is, then everything IS fine. If you’re in the other 99% of Americans, inflation and the rest is hurting you.

  6. Sean says:

    As Jo pointed out “formal” or “in technical terns” recesssion would be 2 successive quarters of neg. GDP growth. SO not yet but gettting close to recession “technically” speaking… LOL

  7. David says:

    So true KMC, so true…

  8. […] Wall Street Journal Is Advocating Stockpiling Food – Is This A Recession Or Not? – My Two Dollars […]

  9. HarryLou says:

    Should you decide to stockpile rice, be on the lookout for rice weevils. If you don’t plan on cooking and eating it soon, place it in the freezer for 3 or so days to do away with them. I am thinking there will be plenty of spoilt rice nd other grains tossed out, what a waste.

  10. Andy says:

    first of all has anyone herd of an experation date? stockpilling food is dumb because eventually you are going to run out and if you dont have any money how are you going to be able to warm up your rice? The point is that we are not in a recession yet, our gdp is at .6% increase and has been for the past year so once we have a negative gdp for at least one fiscal quarter then we can start using the hated R word but until then if your that concerned, use the jar from your jelly that you were going to save for this “recession” and start filling it with change because money is what we need. another thing is what are you going to do with your stock pile in your home and it gets forclosed? Lets not “talk ourselves out of recession” lets start being smart with our money and take scissors to our credit cards because credit card companies are slaughtering our citizens credit and taking all their money. And please everyone, do the nation a favor and dont say “getting close” because thats talking ourselves into one, instead saying “trying not to be” that way it at least shows your doing your part to try and get us out of here by putting visa and mastercard through the shredder. No hard feelings to anyone, just trying to get my point (and the truth) out to everyone

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