Written by Bernie Carr
Just a quick post today to discuss what’s on top of a lot of people’s mind. Ukraine is bracing for more attacks by Russia as the world watches the events that are rapidly changing. As my regular readers know by now, this blog is not political and I discuss current events and how they may potentially impact us.
Let’s look at how might the Russia-Ukraine war affect you and what can you do to prepare.
In many ways, the conflict worsens the problems that we have already seen in the past few months.
High energy costs
Russia is a supplier of natural gas and oil. It provides 10% of the global supply, and approximately 40% for the European Union. The U.S. is also a producer, but also the largest consumer of crude oil and natural gas.
Last year, to make up the deficit, the US imported 8.5 million barrels of crude daily. In November, about 595,000 barrels per day, or roughly 7%, came from Russia — making it our third largest outside source after Canada and Mexico.
Sanctions against Moscow could reduce the availability of Russian crude in the US and cause prices of gasoline and petroleum products to rise.
Source: CNET
High food prices
Ukraine is considered a “breadbasket” of Europe. Russia also exports a lot of wheat, as well as fertilizer. If these sources are unavailable, the buyers of these commodities will buy elsewhere, which means tighter supplies and higher prices. Food prices were already rising to begin with, this will push them even higher.
U.S. grocery prices were up 7.4% in January from a year earlier. Because demand for food is typically not very sensitive to changes in price – people need to eat no matter the expense – an increase in the cost of food production typically gets passed along to consumers.
Source: PBS.org
Increased cyber attack risk
Experts are warning of increases in cyber attacks.
Between Russia’s invasion of Ukraine and ongoing cyberattacks, experts are warning about malicious cyber activity directed at the U.S., and some U.S. security pros spoke to Fox News about how to defend against technological assaults.
Source: FOX NEWS
Higher vodka prices
Liquor stores are refusing to carry Russian vodka and throwing out their stocks in protest. This means higher prices for vodka, which could “spill over” (pun intended) to other types of liquor.
Stocks volatility
Any type of uncertainly causes volatility in the stock market.
The attack on Ukraine will likely add another layer of uncertainty to markets, increasing the potential for more gyrations, investors said.
“We are going to churn here for a while,” said Ken Polcari, managing partner at Kace Capital Advisors. “We are going to have very volatile days and weeks ahead.”
SOURCE: Reuters
What can you do to prepare?
Continue to stock up and build your pantry. While supplies are available, buy when you can, but only what you do it and what you can afford.
Since gas prices keep increasing, change your driving habits to save on fuel costs.
If you have investments in the stock market, see your financial advisor and discuss what are the best moves for your personal situation and risk tolerance.
Protect yourself from cyber attacks both at work and at home:
The Department of Homeland Security also provides a lot of great tips to protect yourself from cyber attacks:
- Never click on links in emails. If you do think the email is legitimate, whether from a third party retailer or primary retailer, go to the site and log on directly. Whatever notification or service offering was referenced in the email, if valid, will be available via regular log on.
- Never open attachments. Typically, retailers will not send emails with attachments. If there is any doubt, contact the retailer directly and ask whether the email with the attachment was sent from them.
- Do not give out personal information over the phone or in an email unless completely sure. Social engineering is a process of deceiving individuals into providing personal information to seemingly trusted agents who turn out to be malicious actors. If contacted over the phone by someone claiming to be a retailer or collection agency, do not give out your personal information. Ask them to provide you their name and a call-back number. Just because they may have some of your information does not mean they are legitimate!
- Set secure passwords and don’t share them with anyone. Change your passwords at regular intervals. Avoid using common words, phrases, or personal information and update regularly.
- Keep your operating system, browser, anti-virus and other critical software up to date. Security updates and patches are available for free from major companies.
- Verify the authenticity of requests from companies or individuals by contacting them directly. If you are asked to provide personal information via email, you can independently contact the company directly to verify this request.
- Pay close attention to website URLs. Pay attention to the URLs of websites you visit. Malicious websites sometimes use a variation in common spelling or a different domain (for example, .com instead of .net) to deceive unsuspecting computer users.
- For e-Mail, turn off the option to automatically download attachments.
- Be suspicious of unknown links or requests sent through email or text message. Do not click on unknown links or answer strange questions sent to your mobile device, regardless of who the sender appears to be.
The DHS also provides tips on protecting yourself against ransomware.
Be careful about what links you may click or innocently share while online, there is a lot of bad information out there.
Critical services may be threatened by cyber-attacks, we need to be prepared for service disruptions:
- Prepare for a power outage. You should have a portable power bank to charge small electronic devices such as smart phone, tablet, flashlight, etc.
- Make sure you have water stored at home, in case the water supply is threatened. Learn about emergency water sources in your area. Have a way to purify water.
- Have some food stored at home.
- Make sure you have an emergency cash stash. In the event ATM and credit card processors are compromised, stores will only accept cash. Have some small bills and change set aside-carry at least $40 in your car or wallet so you don’t get stranded with no way to pay if an outage happens.
- Keep your gas tank at least half full.
- Have a paper backup of your important documents. It’s also a good idea to backup your important documents in a separate storage drive in case your computer gets hacked.
- Keep a well-stocked first aid kit in case you are unable to leave your home and an injury occurs. You may not be able to look up symptoms online so have a first aid book handy.
- Consider ways to communicate when the grid is down. Ham radio is another option.
Stay aware of events in case things escalate but don’t listen to fear mongers and don’t panic. World events are beyond our control. You can only take care of things you can control and one of those areas is preparing as best as you can.
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Bernie Carr is the founder of Apartment Prepper. She has written several books including the best-selling Prepper’s Pocket Guide, Jake and Miller’s Big Adventure, The Penny-Pinching Prepper and How to Prepare for Most Emergencies on a $50 a Month Budget. Bernie’s latest e-book, FRUGAL DIY has just been released on Amazon. Her work appears in sites such as the Allstate Blog and Clark.com, as well as print magazines such as Backwoods Survival Guide and Prepper Survival Guide. She has been featured in national publications such as Fox Business and Popular Mechanics. Learn more about Bernie here.
Image by Clker-Free-Vector-Images from Pixabay
IMHO, food prices are going to soar. Russia is a major supplier of chemical fertilizer in the world. The U.S. is a major customer. If we refuse to buy from them . . . or they refuse to sell to us . . . food production will go down and food prices will go UP. Looks like a sure thing. (They don’t have to worry about losing us as a customer, incidentally. They’ll just sell to China.)
Here’s something you might try. Compile a grocery list of ten items (bread, milk, baby food, hamburger, etc.). Then go to the grocery store and write down today’s prices for each item. Later on, update those prices once a month. I suspect that (in less than 12 months from today) your eyes will open in astonishment, fear will take over, and you will become a prepper par excellence. (Now don’t hoard. Naughty, naughty.)
Hi Ron, I keep old receipts up to a year and have noticed the rapid price increases in a matter of months. Also noticing that those that haven’t increased in price, portions/packages are getting smaller. Thanks for the comment.
Put important contacts and logins in a paper address book to keep by your computer. If cell service goes out you might need a paper road map of your area. A little brick for your phone that’s less than $25 gives you hours more service if you faithfully keep it plugged into your usb port to keep it charged. When the grid gets spotty or power is out, a cheap portable radio pre-tuned to the emergency station and the dial taped down, with batteries stored outside it, is a useful and comforting thing particularly when there’s that creepy silence of no traffic, electronic and appliance hum in the background. We rely on our phones so much now. It’s easy to forget if we can’t charge them we can’t get to the data on them, and many people don’t memorize phone numbers and addresses or logins anymore.
A lot of clothing and shoes comes from overseas, uses petroleum to manufacture, and fuel prices for transporting within the country are going up. If you can afford it, put away one outfit for work, a package each of socks and underwear, and a pair of comfortable walking shoes you could wear to work. Make sure you have a good winter jacket (not an expensive, bulky coat that’s hard to walk in and not very warm) with a hat or hood, and gloves. Just having that little clothing backup gives you time to shop around or scrounge when something wears out. Have a backup for work shoes or boots if you can afford it. Having a “home outfit” of worn casual clothing to change out of work clothes, including indoor shoes or slippers, and using sturdy aprons that stop grease and stains, makes good clothing last longer. Restaurant supply stores sell cheaper aprons that aren’t just for show. If you’re a sewist, make a few from a thrift store quilted bedspread.
With fuel costs rising the way they did in 2008, we’ll all want to walk, carpool or take public transportation to save some trips. Your hands and back will thank you if you get a Jansport or other sturdy daypack you can carry a few groceries in. A 3-digit combination travel zipper on the outside pouch keeps casual thieves from lifting your wallet while you’re strap hanging.
Mme Homebody, You are so right, most people keep all their contacts in their mobile phone when it loses charge you lose contacts. I agree, one outfit for work, home and backups for shoes are all essential to have. We may all have to walk more and a backpack will come in handy. These are all great tips to remember. Thanks for the comment.