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Page added on August 24, 2015

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Stock up on canned food for stock market crash

A former adviser to Gordon Brown has urged people to stock up on canned goods and bottled water as stock markets around the world slide.

Damian McBride appeared to suggest that the stock market dip could lead to civil disorder or other situations where it would be unreasonable for someone to leave the house.

“Advice on the looming crash, No.1: get hard cash in a safe place now; don’t assume banks & cashpoints will be open, or bank cards will work,” he tweeted.

“Crash advice No.2: do you have enough bottled water, tinned goods & other essentials at home to live a month indoors? If not, get shopping.

“Crash advice No.3: agree a rally point with your loved ones in case transport and communication gets cut off; somewhere you can all head to.”

Mr McBride credited his former boss Gordon Brown with preventing a cataclysm by nationalising the banking system during the 2008 crash.

“We were close enough in 2008 (if the bank bailout hadn’t worked),” he said. “and what’s coming is on 20 times that scale”.

Financial markets are unstable and periodically suffer crises which can have devastating consequences for the wider economy.

China’s “Black Monday” has plunged the global financial markets into chaos. The Shanghai Composite Index, China’s most important stock market index, was down 8.45 per cent, erasing a year’s gains in a day’s trading.

The FTSE100 fell 4.5 per cent, hoping £60bn off the price of UK shares, and the Dow Jones in the US fell by over a thousand points in its first minute of trading.

Some analysts have suggested that the stock market slide could be the start of a new global financial crisis.

Mr McBride’s suggestions about stocking up on canned goods, setting rally points and stocking up on bottled water were ridiculed by some users on Twitter as over the top, however.Mr McBride was special adviser to Gordon Brown and head of communications at the Treasury for a period during the last Labour government.

independant



44 Comments on "Stock up on canned food for stock market crash"

  1. penury on Mon, 24th Aug 2015 3:49 pm 

    This is a crash? Really? This is a small downturn, does not even qualify as a correction. When a crash occurs, it will be too late to take precautions. Now is the time, but most cannot or will not, A market crash fortunately will not affect the majority.

  2. ghung on Mon, 24th Aug 2015 3:50 pm 

    The video had nothing to say about me running out and stocking up on cans of kippers and tuna, so I didn’t. Maybe tomorrow…

  3. HARM on Mon, 24th Aug 2015 3:53 pm 

    “Mr McBride’s suggestions about stocking up on canned goods, setting rally points and stocking up on bottled water were ridiculed by some users on Twitter as over the top”

    Because it *is* ridiculous and over the top. Good grief, U.S. stocks have only dropped a few percent and are *still* overvalued at least 10-15% by historic metrics (PE/Price-Book ratios).

  4. Apneaman on Mon, 24th Aug 2015 4:01 pm 

    “Black Monday” Brings Global Market Rout, Investors Mourn The Death Of Central Bank Omnipotence

    http://www.zerohedge.com/news/2015-08-24/black-monday-brings-global-market-rout-investors-mourn-death-central-bank-omnipotenc

    https://www.youtube.com/watch?v=FNtjksCUMIA

  5. Hawkcreek on Mon, 24th Aug 2015 4:21 pm 

    Having a months worth of supplies at home doesn’t seem over the top to me. Just looks like good cheap insurance against any type of problem – financial system problems, natural disaster, losing your job, etc.
    Just common sense.

  6. GregT on Mon, 24th Aug 2015 4:26 pm 

    “Mr McBride’s suggestions about stocking up on canned goods, setting rally points and stocking up on bottled water were ridiculed by some users on Twitter as over the top”

    ‘Suggestions’ that governments and policy makers here have been telling people to do for years. Any number of disaster scenarios could play out at a moments notice, a stock market crash included. Every time we have a small earthquake the masses go into hysteria, but very few have actually made any preparations for the big one. The hysteria only lasts for a few days, and then all is forgotten.

  7. Davy on Mon, 24th Aug 2015 4:36 pm 

    Collapse is a process. The bubbles are deflating and deflation is becoming systematic. A cycle of demand/supply destruction will erode growth until there isn’t any real or so called shadow stat. The markets are still repressed with multiple systematic irregularities with normal price discovery constrained. This makes the way forward clouded and uncertain.

    We should not be looking to past contractions as a gauge of this one. We are in uncharted waters. This is now global not regional. 2008 was regional with the U.S. the primary driver of risk. Now risk has been spread throughout the global economy. There will be no decoupling of any economy from this one including the U.S.

    One thing is certain the tools that were used in the past will be dangerous to use again. There is likely no other policy or action that does not carry sizable risks and trade-offs. IOW someone is going to lose with no happy endings for anyone. The time frame is uncertain but the direction is clear.

  8. Newfie on Mon, 24th Aug 2015 5:18 pm 

    Never ending growth is a fairy tale.

  9. Bob Owens on Mon, 24th Aug 2015 6:22 pm 

    If you haven’t invested in a freezer yet, do so. Stock it up with food and learn how to rotate through the stockpile. Decide what you are willing to eat and what you want. Keep about 1 year’s supply of food available split equally between frozen and canned. When TSHTF it will be the best investment you will have ever made, EVER! Don’t delay. It takes a while to convince the significant other that it is worth doing. Don’t forget a generator to keep it cold during power outages.

  10. R1verat on Mon, 24th Aug 2015 6:37 pm 

    Better yet start canning or drying your food & rest assured you won’t have to worry anout a power outage!

  11. JuanP on Mon, 24th Aug 2015 6:52 pm 

    That is good advice. As someone who lives in Miami Beach, on a barrier reef island in a hurricane area, I have been doing these things for decades. It only makes sense to have some food, water, cash, and necessary medications on hand. It also makes sense to have emergency and evacuation plans that include alternative meeting places and communications arrangements.

    My family and I have meeting places in town across the bridge, on the mainland, and in Orlando, at friends’ homes. We also have plans to use out of town people as communication nodules and radios if local communications break down.

    This is only another small step towards the coming economic crisis, so I don’t feel it merits any action on my part since I am not invested in the stock markets.

    I do believe the Dow will crash at some point in the future, probably to around 5,000, but I have no idea when that will happen; it could take days or years for all I know.

  12. Apneaman on Mon, 24th Aug 2015 7:01 pm 

    Because it’s a “free market”

    Trading in Stocks, ETFs Was Halted More Than 1,200 Times Early Monday
    Increase or decline of 5% or more triggers a five-minute pause in trading

    http://www.wsj.com/articles/trading-in-stocks-etfs-paused-more-than-1-200-times-early-monday-1440438173

  13. Apneaman on Mon, 24th Aug 2015 7:06 pm 

    It doesn’t take a rocket scientist to figure out who is worried about their portfolio and who doesn’t give a shit because they were preparing or want it to happen.

    What was that thing about collapse now and avoid the rush?

  14. Davy on Mon, 24th Aug 2015 8:14 pm 

    I am thinking we are initially going to see less food choices drift into food insecurity for a significant percentage of people. I see famine in those countries that have exceeded carrying capacity and are currently food importers. The famines will be on the increase with localized increasing to more widespread and regional.

    Once food and fuel are in shortage the global system will be seriously at risk. I see this within 5 years because of the peak oil dynamics. The economic risks are here and now. There is no telling how that could shake out.

    I recommend #10 cans with long shelf life food, regular canned foods, dried foods, and frozen foods. I am not as big on frozen but it has a place in the mix. There is a risk from grid instability that could make frozen food problematic. I have added to my mix having a garden, bees, goats, and cattle. Soon I will get chickens and rabbits. We have lots of wildlife here too. We have lots of plants to forage.

    Diversity is the key. Location is the key. Make sure your local is supportable per the surrounding population. This may be a drawn out affair with the bottom falling out when the global system breaks down. We may only have a few months but more likely a few years of ever worsening conditions. Prep now because it is never too late. We all have comparative advantages. Learn yours while you have time build on them.

  15. Makati1 on Mon, 24th Aug 2015 8:23 pm 

    “Crash advice No.2: do you have enough bottled water, tinned goods & other essentials at home to live a month indoors? If not, get shopping.”

    Covered, Plus, plus…

    The economy has turned on the Limbo music again for the Stock Market dance. I’m enjoying the show as blood runs on the Market floor and the IRAs, 402ks, etc get bludgeoned. QE to infinity?. Won’t work this time.

    I got a 1% raise last night as the Ps Peso to the USD went up again. That makes 6% since June. ^_^

  16. Davy on Mon, 24th Aug 2015 8:38 pm 

    That ain’t much Mak when all you get is a social security check. That is nothing to crow about except for a schmuck.

  17. Bloomer on Mon, 24th Aug 2015 8:59 pm 

    The markets were due for a correction, particularly the go-go tech stocks that burn cash and don’t make a profit. Oils’ downfall is seems a bit overdone and I wouldn’t be surprised to see a bit of a bounce back.

    China is the wildcard here. Not sure what going on over there. Is the stock market fall a correction or a harbinger of bad things to come. They do have a lot of Greenbacks to sell if things get really bad.

  18. antaris on Mon, 24th Aug 2015 9:25 pm 

    If we need more food than about 5 days worth then we better have way more than a months worth. More than 5 days and you are looking at a big die off. Hide and come out when the zombies are gone.

  19. GregT on Mon, 24th Aug 2015 9:30 pm 

    We’ve been rotating the food in our freezer for years. It becomes second nature after a while. We also picked up a commercial grade vacuum sealer. One of the best items we’ve ever purchased. Food in the freezer lasts for years, with no freezer burn, or freezer taste. We have over a year’s supply of food on hand, and our water comes from our own well. Best water I’ve ever tasted.

  20. apneaman on Mon, 24th Aug 2015 10:19 pm 

    Trade-Off
    Financial System Supply-Chain Cross-Contagion: a study in global systemic collapse.
    David Korowicz

    http://www.feasta.org/2012/06/17/trade-off-financial-system-supply-chain-cross-contagion-a-study-in-global-systemic-collapse/

    http://www.feasta.org/wp-content/uploads/2012/06/Trade-Off1.pdf

  21. PrestonSturges on Mon, 24th Aug 2015 10:32 pm 

    I still have a forklift pallet of instant beef stroganoff from Y2K, so I’m set.

  22. antaris on Mon, 24th Aug 2015 11:58 pm 

    Prest where’s the beef? Dried noodles and salt won’t get you far.

  23. Davy on Tue, 25th Aug 2015 12:44 am 

    Ape Man, great reference. I would also recommend his latest: “How to be Trapped” http://www.davidkorowicz.com/

    Korowicz has essentially combined multiple fields of study into one complete study of systematic collapse of our unique in human history global system. He is truly an amazing academic in the field of collapse of complex systems like our own. He has influenced my thought greatly. Here is an example of his profound understanding of what is ahead:

    There are very significant and growing real-time risks of failures in the systems we have come to depend upon. Some of that risk might be avoided, some might be mitigated, but much we will just have to deal with.

  24. GregT on Tue, 25th Aug 2015 1:12 am 

    “I still have a forklift pallet of instant beef stroganoff from Y2K, so I’m set.”

    You actually fell for Y2K? That’s funny.

  25. pat on Tue, 25th Aug 2015 1:21 am 

    its that 2015 is much bigger than 2008 or any seen before in history. there are no more tricks to pull out of hat as in 2008 to propel the markets, ignite the economy. already many of the world countrys, economy are collapsing or collapse.

  26. apneaman on Tue, 25th Aug 2015 1:29 am 

    Thanks Davy. When I think about broken supply chains, pharmaceuticals is one of the first things that comes to mind.

    This Consumer reports article is about safety, but it’s the statistics on where the drugs and ingredients come from that is troubling in the context of broken or interrupted supply lines.

    “Should you take drugs made only in the U.S.?

    It’s unrealistic in this age of globalization. About 40 percent of the medications Americans use everyday are made outside the U.S. And two of the world’s leading drug exporters are India and China, each with about 500 drug manufacturing plants registered with the FDA.

    Plus, when you consider that about 80 percent of all raw drug ingredients used to make medications we take in the U.S. come from other countries, it is very difficult to know where all the components of a medication come from, regardless of where it was manufactured.”

    http://www.consumerreports.org/cro/news/2014/04/are-generic-drugs-made-in-india-safe/index.htm

  27. PrestonSturges on Tue, 25th Aug 2015 2:11 am 

    “I still have a forklift pallet of instant beef stroganoff from Y2K, so I’m set.”

    You actually fell for Y2K? That’s funny.
    —————————–
    Laugh if you like, but that forklift has come in handy!

  28. BC on Tue, 25th Aug 2015 3:55 am 

    “I still have a forklift pallet of instant beef stroganoff from Y2K, so I’m set.”

    “. . . You actually fell for Y2K? That’s funny.

    —————————–

    Laugh if you like, but that forklift has come in handy!”

    😀

  29. joke on Tue, 25th Aug 2015 10:24 am 

    Chinas rate cuts, aimed at reassuring markets in the west will totally hammer consumers in China, this is not good news and will only slow the slide. Safe bets include as you might expect, oil and other staples of the limits to growth economy.
    Rate cuts impacts are temporary.
    The issue is that even with loads of rate cuts Chinas exports (job growth for them) is linked to western imports (demand), unless the west grows then there is job growth for China, rate cuts may make goods cheaper now, but unless there is a spending and consumer boom in the west then the markets will slide.

    I think in the middle term it’s probobly going to work, Chinese goods will get cheaper as their currency sinks, but cost savings have to be passed to consumers.
    It’s likely in this case then that oil will rebound if western demand can grow out of this.
    So far though near zero rates have not benefited most people.
    I won’t be stocking up on canned goods just yet, but I may be buying all my Xmas gifts early from China.
    Lock in those cheap oil prices now, in 2 years it may not be so cheap.

  30. redpill on Tue, 25th Aug 2015 7:45 pm 

    “I got a 1% raise last night as the Ps Peso to the USD went up again. That makes 6% since June. ^_^”

    I don’t know what other local income you have coming in Mak, but your S.S. is paid in dollars, so that would be the opposite of a raise, wouldn’t it?

  31. Nony on Tue, 25th Aug 2015 7:50 pm 

    ghung, is that a picture of you or something from some movie or album or the like? Serious question, no offense.

  32. Makati1 on Wed, 26th Aug 2015 12:23 am 

    redpill, only if I buy US stuff, which, I mostly don’t. Prices here don’t jump around like in the US.

    My rent is in Pesos. It went from $505/mo. to $495 in the last 3 months. A $10/mo savings. About P45.4 in June to P46.6 today, to the USD.

    Internet went from $22.00 to $21.50/mo.

    The cost of food stuffs is also going down in Pesos so a double savings.

    Not to say that the exchange rate may not go the other way, but it will not happen as fast as it went up and I am buying ahead for reserves.

    And, I do have other income sources, not taxable. Thanks for asking.

  33. Davy on Wed, 26th Aug 2015 3:06 am 

    Makster, you are an old man with no insurance in a third world country living on social security. That is nothing to crow about. Your country is at the bottom of the list for environmental problems. That country is overpopulated and faces food shortages when the global system begins to decay. It is in the cross hairs of climate change with super storms and drought. You have nothing to crow about. You are going to be lucky to make it to 80 in a collapsing world. I know how much you want to believe you are going to make it to 90 or 100 but it just is not likely Mak. Making it 5 years is going to be tough on a jungle farm with little to support you.

  34. JuanP on Wed, 26th Aug 2015 10:06 am 

    Bubbles don’t correct, they burst! http://economyandmarkets.com/markets/stocks/get-with-the-program-bubbles-dont-correct-they-burst/

  35. ghung on Wed, 26th Aug 2015 12:10 pm 

    Nony: It’s “Scrooloos”, from Thunderdome. Seriously.

  36. ghung on Wed, 26th Aug 2015 12:15 pm 

    … with his pet Nony monkey.

  37. ghung on Wed, 26th Aug 2015 12:21 pm 

    “Scrooloose is a reclusive member of the Lost Tribe, a young adult identified by his dark eye shadow. He is apparently mute and often absorbed in thought, but also attentive to natural signs. Scrooloose leaves the Lost Tribe’s oasis with Savannah Nix to find the rest of humanity, then joins in the road war against Aunty Entity by commandeering the vehicle that Max Rockatansky uses to cover their escape. After reaching the ruins of Sydney he settles there and helps to raise a new branch of the tribe.”

    http://madmax.wikia.com/wiki/Scrooloose

  38. Davy on Wed, 26th Aug 2015 1:29 pm 

    Cool, G-man!

  39. Nony on Wed, 26th Aug 2015 1:45 pm 

    Thanks, g. I’ve only seen the first two. MM and RW.

  40. ghung on Wed, 26th Aug 2015 3:03 pm 

    Jeez, Nony….

    “Time counts and keeps countin’, and we knows now finding the trick of what’s been and lost ain’t no easy ride. But that’s our trek, we gotta’ travel it. And there ain’t nobody knows where it’s gonna’ lead. Still in all, every night we does the tell, so that we ‘member who we was and where we came from… but most of all we ‘members the man that finded us, him that came the salvage. And we lights the city, not just for him, but for all of them that are still out there. ‘Cause we knows there come a night, when they sees the distant light, and they’ll be comin’ home.”

    Then there’s this:

    https://www.youtube.com/watch?v=otrEdaoENz0

    You missed the best of the original trilogy; best characters, best dialogue, best music…..

    “Right now, I’ve got two men,
    Two men with a gut full of fear.
    Ladies and gentlemen,
    Boys and girls…
    Dyin’ time’s here!

  41. helmi22 on Sat, 29th Aug 2015 11:38 pm 

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  42. GregT on Sun, 30th Aug 2015 12:44 am 

    Thanks helmi22!

    Just learned more than I ever needed to, about renting a forklift in Indonesia. Next time I happen to be in the neighbourhood…………

  43. apneaman on Sun, 30th Aug 2015 1:24 am 

    Forking spammer!

  44. Davy on Sun, 30th Aug 2015 7:23 am 

    G-Man said “Time counts and keeps countin”…….comment above.

    Friggen profound shit G that you sifted from the gaudy art of Hollywood. That’s it man! I love how art expresses subconscious truths of society. The sheeples can be told the truth in parables through the gaudy art but the POTUS can’t come on prime time and tell us point blank we are screwed, blued, and tattoo.

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