What do you think of inflation?

[Anonymous]

Is inflation even a thing?

I'm not rich. I have a good job and make good pay. Actually, I've never done better. If prices are higher, I haven't noticed. I did notice all of the pay increases I've been given over the last ~18 months.

Honestly, I noticed gas prices were higher at the beginning of the summer, but they're back to what they were before. And, who really cares? I spend a tiny fraction of my income on gas.

Unemployment is at record lows. I'm saving tons of money. Why is everyone complaining about inflation?

Updates

+1 y

The biggest problem with inflation is the false narrative conservatives push that somehow Biden is responsible. I don't understand how after only 2 years, his policies could have caused worldwide inflation.

Think for a minute about what has happened since the beginning of 2020. One million dead Americans due to the botched covid response. Supply chain issues, mostly due to China's lockdown policies. Removing most of Russia's oil from world wide markets. (Russia produces MORE oil than OPEC.)

[MCheetah]

I think inflation is a big problem, mostly created by the Biden Administration, to intentionally destroy the US. It hasn't affected Korea as much, but food has been rising over here, too.

I got this from another post here on GAG.

It just sounds like you're probably pampered or a rich kid (who doesn't believe they're "rich" cause they're not billionaires yet), so wouldn't be affected even during another recession. Good for you, I guess? The ones who don't have a safety net or mommy and daddy paying all their bills, are feeling the squeeze.

[goaded]

Did you know that 54% of inflation in the US is due to profit taking?

[Asker]

I didn't know that. The obvious downside to our "free" market. There's more collusion than competition. At least in the petroleum industry.

[midnightmoon05]

What do I think? I think people need to start becoming smarter about their money.
Everyone is talking about it and it affects majority.
those who are financially free - no mortgages, debts. Maybe in a better place. Still it affects them in some ways.

[Aerissa_Jade]

It is a problem, the 1.5 to 2% annual raises many people get, doesn't come close to keeping up with purchasing power. Then again certain things are not even included in the inflation calculation but I've definitely noticed it this year.

[Asker]

I'm curious... What did you notice?

[Aerissa_Jade]

Gas, food, utilities, all going up, even fast food restaurants a year ago combo's were 8 dollars are now 12.

[OlderAndWiser]

What do you think of inflation? I'm against it!

[Sixgunsound]

People who’ve given up finding a job and are permanently eating and living in our tax dollars are removed from unemployment rolls. Oddly enough those removals do not correspond to additions to job numbers. The hidden hopeless are a much larger crisis than mainstream media will ever tell you about.

[Sixgunsound]

Thanks for MHO

[Anonymous]

Inflation is a constant thing, it happens through the year and at the end of the year the government readjusted for it. Minimum wage and your employer will give you a raise that matches adjustment. Basically the money you have at the start of the year is worth less by the end. So take your savings, by the end of the year your savings will be worth 8.2% less or possibly 20% less if hyper inflation happens.

[OddBeMe]

A) inflation is like evolution, it never stops. Prices of milk rise constantly each year.

B) the bigger inflation we're in right now is like a bigger ocean wave rocking your boat. Its natural, or could be manmade. But tbh, it can be a good thing. Like exercise hurting your muscles.

[NerdInDenial]

Where do you live because the the West Coast is feeling the pain? The rate of inflation means less value of your money. Unfortunately and fortunately, the rest of the world is facing the same issue; thus, the dollar is still strong.

[FunkyMonkee]

I think Joe's just trying to get everything to match his head... or his ego!!

[FunkyMonkee]

Lemmie guess! Inflation is Trump's fault, right? You know, the guy that had prices down to where they were in the late `80's before Joe cheated and fucked everything up!

[888theGreat]

Do you have 3 kids? Are you paying for a home? A car? When you are paying for a home, paying for a car. paying college for 3 kids or paying groceries for 5 people , inflation matters. I bet your parents are paying everything for you.

[Asker]

Actually, Between merit scholarships and work, I paid my own way.

I have a mortgage. The payment has been the same for 5 years and won't change for 25 more. At 2.6%, I'm loving that mortgage. With salaries going up, housing has never cost me less. (As a percentage of my income.)

[888theGreat]

Home is about to drop 60% in value. We will see how you love it then

[exitseven]

It is really bad and I lived through the 70s. I can't imagine what this winter w will be like.

[Asker]

How old are you IRL? What do you remember of the 1970s? You were 9 in 1980.

[exitseven]

I remember Jimmy Carter.

[Fireguy17]

Yes it is a thing.
Everything seems to cost more, food, going out, you name it, the price went up.
Wait until interest rates go up.
Ouch.

[AngryCarl]

What point are you trying to make? That prices can't be rising because you have more money than you need? Well lucky you.

[Asker]

breathe, Carl. You're going to give yourself a coronary.

What point are YOU trying to make?

[AngryCarl]

That you're a smug prick I guess.

[AngelOfLight258]

I think that it's dangerous for the economy and could lead to stagflation.

[In_Trance]

Do you own a house?
To be clear; own a house not pay a mortgage...

[Asker]

The distinction you're trying to create isn't clear.

Yes, I own a house. It's mortgaged. I'm 5 years into a 30 year fixed. As a percentage of my income, housing gets cheaper and cheaper. "Inflation" has accelerated my pay increases. Of course, housing costs are flat.

[In_Trance]

The trouble with inflation is it may get cheaper and cheaper for you to live but it's taking you longer and longer to pay it off. Do some math and you'll see the basis of inflation is to keep you in debt and poor longer. What you could have afforded even 6 months ago you can't afford it the same rate now.
Sure maybe you spend a little on gas but there's something that you're not affording.

[joeldalton]

How do biden’s balls taste?

[Asker]

Good point. I should cut him a check.

[joeldalton]

10% for the big guy.

[Asker]

I have to look up the limits. Definitely max out.