Financial anxiety: The alarming side effect of inflation

Post by kemotep » Mon, Oct 09, 2023, 5:06 PM UTC

makomk wrote: post #37

gjsman-1000 wrote: post #6

Earlier quoted context omitted.

Don't shoot the messenger. If anything, inflation and shrinkflation's effects on the average American are, in my opinion, understated; and Thomas Jefferson (if you've ever read his comments about inflation) would've been calling for hangings. Also, worth remembering, the median American income is $40,480 /yr., while median household is $74,580 /yr. Half of Americans make less than that per year. 20th percentile incom…

The BBC is a British institution though, and the British media has treated the effects of inflation here very differently to how the American media did, with endless front-page coverage of every last detail and prediction and problem whereas the American media downplayed the issue and how badly people were doing in day-to-day terms and instead told readers that inflation was some partisan Republican narrative.

Post by Tade0 » Mon, Oct 09, 2023, 5:13 PM UTC

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.

Post by diogenes4 » Mon, Oct 09, 2023, 5:15 PM UTC

amjnsx wrote: post #21

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…

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.

Post by futureamish » Mon, Oct 09, 2023, 5:20 PM UTC

amjnsx wrote: post #21

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…

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.

Post by rando_dfad » Mon, Oct 09, 2023, 5:27 PM UTC

amjnsx wrote: post #21

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…

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.