Emma Posted October 16, 2021 Share Posted October 16, 2021 More and more prices continue to go up. I know this is going to cause even more debt and struggles for people. Are there any tips to prepare for this on-going inflation that will help keep someone on of even more debt? 1 Quote Link to comment Share on other sites More sharing options...
James Posted October 16, 2021 Share Posted October 16, 2021 Well if you have debt inflation is good for you. You can inflate your way right out of your debt which is likely why the wealthiest most leveraged people in the country and the USA do not mind inflation at the cost of the middle and lower classes. If money is worth less than the debt is worth less. It is going to be an interesting ride. Real estate values in our area and I am sure plenty of others around the country are going crazy. Used car prices are the same way. The cost of groceries on some common items have jumped upwards 30%. Employers having trouble hiring people will start paying more to get the jobs done but that will just make prices go up in the end. The real problem with inflation is it sucks for people that are responsible and like to save their money and live within their means. Wages never seem to rise as fast as inflation does. Tips I keep telling myself: Assets are crazy expensive right now. Do I really want to buy them at this moment of time or wait for a better opportunity down the line. Then again the cash in the savings account is becoming less potent so it can not buy as much do I want to trade that for an asset? I really do not have the answers I have not lived in a time period like we are seeing today yet. I think that this loose monetary policy can only go on for so long. They have been talking about tapering quantitative easing (QE) for years now. It is never the right time they say... Then again the people running the Fed are likely highly leveraged so inflation works for them... It's always the less fortunate that seem to have to pay the price for policies that are stupid. The government in the USA has rescued banks, businesses, and keep trying to print their way out of this. At some point the party is going to have to stop and we will have to come back down to reality. I try to figure out what that looks like. It almost looks like the world is preparing for inflation... The value of BTC can be seen as a deflationary asset the value keeps going up. Now is the value of the coin really going up or is the basket of currencies you are measuring against going down? Stay prepared for the wave of whatever is coming next. All I know is that for something to really change it typically needs to hit rock bottom first. I do not know what that looks like for an entire society. Hoping for some positive news in 2022 for people to elect more populous focused candidates instead of the people that continue to screw us year after year. Surely society can see right now the government is not helping them in anyway... Remain optimistic and prepared for whatever is coming in the future. Quote Link to comment Share on other sites More sharing options...
Mila Posted October 18, 2021 Share Posted October 18, 2021 Everyone I know says not to worry about it because if the US is going down, everywhere else is as well. The way the world works now as a global economy, several countries need other countries to survive. So when the USD drops, other currency follows suit. So what I am saying is that inflation will be bad for a while but it won't completely get terribly. It will work itself out through the global market. 1 Quote Link to comment Share on other sites More sharing options...
Scarlett Posted October 20, 2021 Share Posted October 20, 2021 On 10/18/2021 at 7:18 PM, Mila said: Everyone I know says not to worry about it because if the US is going down, everywhere else is as well. The way the world works now as a global economy, several countries need other countries to survive. So when the USD drops, other currency follows suit. So what I am saying is that inflation will be bad for a while but it won't completely get terribly. It will work itself out through the global market. I hope this is right. Like everyone will go down at the same pace so no one has to suffer. I hate reading about stuff dealing with debts and the economy. I know it is not in a good place right now. Some people choose to ignore that are pretend it is. I am not sure why. 2 Quote Link to comment Share on other sites More sharing options...
Ella Posted October 21, 2021 Share Posted October 21, 2021 Just focus on smart spending. Get items that will increase in value for you. You can look to do investment buys for items that are projected to increase in value in a few years so you can in turn sell them in the future. 1 Quote Link to comment Share on other sites More sharing options...
Mila Posted October 23, 2021 Share Posted October 23, 2021 On 10/19/2021 at 8:51 PM, Scarlett said: I hope this is right. Like everyone will go down at the same pace so no one has to suffer. I hate reading about stuff dealing with debts and the economy. I know it is not in a good place right now. Some people choose to ignore that are pretend it is. I am not sure why. It is easier to live in ignorance I suppose. I like to know what is going on so I can be prepared. After the crash in 2008, I would like to think most people feel this way but I know that just isn't the case. I would guess half the country doesn't even pay any bit of attention. 1 Quote Link to comment Share on other sites More sharing options...
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