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Financial anxiety: The alarming side effect of inflation

bbc.com

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Re: Financial anxiety: The alarming side effect of inflation

#101

Post by toomanyrichers »

jplusequalt wrote: post #59
toomanyrichers wrote: post #25

Earlier quoted context omitted.

> What blows me away is that it appears to have no bearing to what people can actually afford? If the houses aren’t sitting on the market, people can afford them. I think what actually happened is people realized that housing was underpriced . Which is insane in terms of the raw numbers, but it’s the truth: lack of supply along with increasing numbers of buyers means that the market really is that hot. Sucks to be la…

I don't buy this at all. There are shoddy houses in my area that were sold in 2021 for $100k that are now on the market for $250k in 2023. We're in a bubble.

This:

> There are shoddy houses in my area that were sold in 2021 for $100k that are now on the market for $250k in 2023.

Does not imply this:

> We're in a bubble.

Re: Financial anxiety: The alarming side effect of inflation

#102

Post by dang »

3seashells wrote: post #34
datadrivenangel wrote: post #12

I visited Argentina earlier this year, and the psychological effects of years of inflation were very real. The exchange rate has gone from 5 pesos per USD, to 350 officially in the last 10 years. The unofficial rate is up to almost 900 pesos per USD. In March the unofficial rate was half of that, so the currency has lost 50% of its value in the last 6 months. Everybody prefers to be paid in dollars, and if you're get…

[flagged]

Could you please stop posting unsubstantive comments and flamebait? You've unfortunately been doing it repeatedly. It's not what this site is for, and destroys what it is for.

If you wouldn't mind reviewing https://news.ycombinator.com/newsguidelines.html and taking the intended spirit of the site more to heart, we'd be grateful.

Re: Financial anxiety: The alarming side effect of inflation

#103

Post by ImHereToVote »

rando_dfad wrote: post #70
amjnsx wrote: post #21

Earlier quoted context omitted.

It’s a tale as old as time unfortunately. Currencies have been debased for centuries. It won’t change until we have actual hard money that can’t be debased by leaders/bankers/politicians.

Hard as gold, perhaps? That creates other issues. Volatility, for one.

Gold creates hoarding behavior. Bitcoin has the same down side. Currencies need to have elasticity. The problem is how the elasticity happens. It can't be controlled by private interests. This is an unsolved monetary problem. I don't think it's unsolvable though.

Re: Financial anxiety: The alarming side effect of inflation

#104

Post by wing-_-nuts »

toomanyrichers wrote: post #101
jplusequalt wrote: post #59

Earlier quoted context omitted.

I don't buy this at all. There are shoddy houses in my area that were sold in 2021 for $100k that are now on the market for $250k in 2023. We're in a bubble.

This: > There are shoddy houses in my area that were sold in 2021 for $100k that are now on the market for $250k in 2023. Does not imply this: > We're in a bubble.

When things get to the point where the average person living in a zip code cannot afford to buy a house in said zip code, it usually is.

Re: Financial anxiety: The alarming side effect of inflation

#105

Post by anon1199022 »

is_true wrote: post #84
anon1199022 wrote: post #41

Earlier quoted context omitted.

Lovely country of Argentina had 9 defaults in it's history. Maybe people and their parents, which certain % of them are part of government or economy. Should start taking little more responsilibity to understand how Finance works long term? Naa, let's default again, blame other things and not even understand how debt and modern monetary system works. https://www.bloomberg.com/news/photo-essays/2019-09-11/one-c...

The money is provided by that monetary system you speak of.

accepted and mismanaged several times by the different governments and public?

Re: Financial anxiety: The alarming side effect of inflation

#106

Post by helij »

saltcured wrote: post #93
helen___keller wrote: post #42

Change is scary. Change for the worse is terrifying. From my observation, most people rightfully assume their incomes aren’t going to rise very fast, if at all. We’re in a world where some people would call a 3% annual raise “generous”. The correct and only way to get by inflation without getting pinched is to make sure your income raises to match cost of living increase. But a lot of people don’t live in the rat rac…

For those with some savings, you also need to understand how to get into inflation-resistant investments if you want to not be pinched by savings. Otherwise this spiral of increasing wages makes your prior savings irrelevant. On the other hand, those with some debt need the financial wisdom to use their spiraling wages to pay down debt principal and not let the debt spiral due to increasing interest rates. So, high i…

What are some examples of inflation-resistant investments that are not real estate? Should a person just put anything extra into mortgage even though interest rates in savings accounts are higher than mortgage interest? Stock market at the moment is something I don't understand and I don't want to get burned again with Bonds.

Just spend like there's no tomorrow?

Re: Financial anxiety: The alarming side effect of inflation

#107

Post by is_true »

anon1199022 wrote: post #105
is_true wrote: post #84

Earlier quoted context omitted.

The money is provided by that monetary system you speak of.

accepted and mismanaged several times by the different governments and public?

Just the governments, most people are not educated enough to understand that at some point you have to pay for all that welfare. Inflation is called a "hidden tax" after all.
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