It wasn't long ago that I wrote the following:
People who buy extra toilet paper, or cans of soup, or bottles of water for storage rather than immediate consumption are not hoarding, they are wisely preparing for any interruption of the grocery supply chain, be it a hurricane, a pandemic, civil unrest, or some other disruption. As long as they buy their supplies when stocks are plentiful, they are doing no harm; rather, they are encouraging more production, and keeping normal supply mechanisms moving.
Plus, when a crisis comes, and the rest of the world is mobbing the grocery stores for water and toilet paper, those who have done even minor preparation in advance will be at home, not competing with anyone.
It's always fun to come upon someone who not only agrees with what I believe, but says it better and with more authority. Lo and behold, look what I found recently, in Michael Yon's article, First Rule of Famine Club.
Hoarders, speculators, and preppers are different sorts, but they all get blamed as if they are hoarders. Hoarders who buy everything they can get at last minute are a problem.
Preppers actually REDUCE the problem because they are not starving and stressing the supplies, but preppers get blamed as if they are hoarders.
Speculators, as with preppers, often buy far in advance of the problems and actually part of the SOLUTION. They buy when prices are lower and supplies are common. Speculators can be fantastic. When prices skyrocket, speculators find a way to get their supplies to market.
I hadn't thought before about speculators. I'd say their value is great when it comes to thinking and acting in advance, but the practice becomes harmful once the crisis is already on the horizon. Keeping a supply of plywood in your garage and selling it at a modest profit to your neighbors when they have need is a helpful service, but buying half of Home Depot's available stock when a hurricane is nearing the coast is selfish profiteering.
