Should I stock up on food, necessities like toilet paper, and on medicines?
Government officials say, “No”. They say, you will continue to be able to purchase these items whenever you need them, as stores selling necessary items like grocery stores, pharmacies, and hardware stores will remain open. Please continue to buy normal quantities of these items on the same schedule you normally do. This will ensure that there is enough for everyone.
Are they nuts? That’s some of the WORST advice I’ve heard in a long time. While I agree you shouldn’t panic buy and some of the hoarders are going way overboard, but having several weeks or more of food is prudent and smart. You really should have already had this in place a long time ago, but now It’s becoming critical.
A second wave of Covid-19 is likely and there is a possibility of another business shutdown. Even if stores are still open, you may not want to get out of your house and expose yourself to potential virus infection. To minimize your trips to the store, have adequate supplies of food, water, and other supplies.
While the stores may continue selling necessary items and will remain open (for now), with all the FED money printing and expansion of it’s balance sheet, I fully expect some increasingly higher prices for months or years following this pandemic.