LOL - sort of...
I'm sorry about your suffering...
OUR suffering...
I empathize.
But this is nothing new in history, just new for you.
It's called inflation and it happens at times.
What is important is that it is stopping.
Two generations ago, inflation was chronic AND the economy sucked. It was called "stagflation".
But then one man had the balls to do what politicians never have the balls to do: Act.
That man's name was Paul Volcker and he was Chairman of the Federal Reserve Board.
His raised interest rates that it slaughtered inflation, but lead to a short-term recession.
Then the government began deficit spending on defense and that jump-started the 1980s which is why that was a party decade and looked so fun. (It wasn't.) BUT, inflation was gone for the most part and, in all the years you were alive, inflation was practically nonexistent.
Listen to the 1974 Wings hit song "Junior's Farm":
It had this important lyric:
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I took my bag into a grocery store
The price is higher than the time before
Old man asked me, "Why is it more?"
===
So, you see, this is an old problem.
It was pretty shitty the whole 1970s decade until Volcker became Fed Chair in August 1979. In October that year, he acted. Inflation was getting worse and worse, but then it turned around greatly and has been under 4% for the most part for the past 40 years.
www.vox.com/.../inflation-paul-volcker-shock-recession-1970s
Fortunately, those in the Federal Reserve remembered the lessons of Paul Volcker and they've acted well enough that inflation is coming down.
You may not realize it, but this inflation was a good thing: It put fear into you. And fear is very sobering and makes you cautious going forward. Instead of being young and feeling like it's party time all the time, it forces you to grow up and become responsible.
In the old Aesop fable of The Ant and The Grasshopper, you turn from grasshopper to ant.
www.kids-pages.com/.../page1.htm
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The Ant and the Grasshopper
It was summer, hot and sunny, and, instead of working and preparing for winter, a Grasshopper preferred to dance, sing and play his violin at his leisure, not minding that these wonderful days will soon be over, that cold and rainy days will soon be near. On seeing a hardworking Ant passing by him, preparing for the hard winter that was to come one day, he invited him to join him and share his fun.
“Unfortunately, I don’t have time for this”, the Ant answered, “I must work hard, so that winter won’t find me without shelter and food.”
“Stop worrying so much, there is still plenty of time to prepare for winter. Let’s sing and dance together, let’s laugh and enjoy life”.
But Ant was very wise and wouldn’t pay attention to the Grasshopper’s words and continued to work hard and store food for the long winter that was to come.
The winter came sooner than expected, and the Grasshopper found himself without home and without food. He went to the Ant’s house and begged him for food and shelter.
“I’m sorry, but I can’t help you”, the Ant said. “I only have room and food for me and my family, so go find help somewhere else.”
“I should have followed Ant’s example in the summer”, the Grasshopper thought sadly. “I would have been so happy now…”
MORAL OF THE STORY: Prepare for the hard days to come.
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All of that said, as long as their is ever-growing wealth inequality like as has been happening for the past 40+ years, things will gradually become unaffordable because of simple supply and demand. The common folks have demand, but the wealthy bought up all the supply so what's left becomes much higher in price... so regular folks can't buy it and only the wealthy can buy it. Thus, the problem gets increasingly worse.
I am not sure how young people will afford themsleves? Unless you want to live rural and can get by with not a lot. Know how to fix and keep your stuff going on your own.
Homes in cities and suburbs are dumb high. People are back to financing homes for 30-45 years. Why? This makes you a slave to your home. It owns you.
Cars are way too high. People again are now financing seven to nine years, which is often longer than the car will be useful, without pouring a lot of extra money into it at some point. And most cars become boring, regardless the model, after four to five years of ownership. It's rare for a person to love their car that long.
Food is way too high. This is good in a way, because people are prioritizing better and healthier food. Everyone was getting fat, and had too much to buy earlier. For most, their food bill has nearly doubled. On average, it's about a 30% jump, but prices on meat are still going up. Now they are selling the idea that bug meal is the future, because it's cheap, low-impact on the climate and full of protein. I will stick with my meat...
Then taken with the price of clothing, and every other item you will need to buy, at some point, it will break. We should be in a real recession where prices should come back to normal, but it won't be overnight. It could take years before cars and homes come back to Earth. The problem there is that people in better economies of scale have cashed out, and moved to other states with a cheaper scale, and they have effectively bidded out the locals. A home that might have cost $250k five years ago is now $400-$600k at current. The jobs in the area have still not increased in pay, so most people are still only able to afford the $250k home.
And lastly, the government has been cooking their books and prices they can influence. Especially with energy. A lot of that is built on our proxy war with Ukraine. Our government has just come out of the pandemic over spending, printing money to. pay for everything and now including a proxy war with Russia. The longer that economic war goes on, the more the American dollar gets crippled, because largely our government has used our global money supply to fight that war, and there will be huge consequences for every American for years to come on that move. If most Americans knew how much money they were giving up to fight that war, most would be against it. I don't have the citation, but it's estimated to be about $7k per home, per year. Money that it being taken in higher prices, especially energy right now directly related to the war.
I 100% agree with that! Let's take Lebanon for example, the dollar used to be 1,500LL which is a little amount of money and you can buy 4 ice creams whith it, however the dollar is now 53,000LL and it's getting wayy worse every month. They can buy like the most expensive shit you'd like, but now that money could buy you milka (chocolate, or any type of snacks).. Talking about Lebanon, all the world is being evil and asking for a lot of money, ofc the government could agree with increasing the prices bc basically they need money too! And things are getting expensive and unaffordable day by day
$95 an hour! Seriously I don't know why more people haven't tried this, I work two shifts, 2 hours in the day and 2 in the evening…And what's awesome is I'm working from home so I get more time with my kids. Here's where I went,
===))>www. join. hiring9. com
Opinion
26Opinion
Yes, all the goods that most people need to live have doubled over the last 2 years. Gasoline, heating oil, electricity, food, automobiles, etc, cost much more than they did in 2020. It is debated what the real cause is but most of the blame belongs to Biden and the democrats. Biden is responsible for the spike in energy costs with his anti-energy executive orders, his administration's incompetence is responsible for the supply chain issues and his foreign policies have contributed to the war in Ukraine. Most American's standard of living have suffered and many credit card debt has reached record numbers while peoples retirement accounts have shrunk from both the retreating stock market and inflation. Many Americans now expect to die at their desks.
yes for some. Costs are going up and income is not keeping up. Did you get a 100% raise recently... didn't think so. The standard of living is going down for many. For some, they don't notice it... as yet. Inflation is a silent thief that takes from everything you have.
Note the govt isn't even close to balancing their books, even if they were being honest... they are spending like drunken sailors. Unles we get productivity improvements, it gets worse. Last reports on productivity did not look good.
The main problem is young people don't know how to save their money and they spend on things they can't afford and/or don't need. I see people in their 20's who say "I'm struggling" and then go buy a brand new iPhone or a brand new car with monthly payments. I also see "struggling" young people eating out at restaurants all the time. You do realize how expensive it is to eat out right?
It reminds me of my parents in the 90's who would buy a bunch of crap with 0 money down and low interest, sure they had lots of nice stuff initially but went bankrupt as they got older because they couldn't afford all the payments for their crap.
My motto is "if you can't afford something don't buy it".
“You’ll own nothing and you’ll be happy”
-World Economic Forum’s 2020 prediction of 2030.
There are very evil people in positions of power trying to influence and mold our futures into one of their own design. A dystopian future where we have the Haves and the Have-Nots. It’s a conspiracy. But it’s not a conspiracy theory. They admit to it annually at Davos. And the guy who runs it dresses and talks like a Bond villain. It would be hilarious if they weren’t actually changing the world in their own image.
Companies will generally charge which ever price they think they can get away with. Before and during the pandemic we borrowed $8 trillion and $4 trillion was for the PPE bailouts. Because Trump appointed banking reps to distribute the PPE loans most of that money went to established, large companies. So there is more fiat currency in circulation, but it's not for the average person. So we are getting inflation prices without experiencing an equitable distribution. So yeah everything is expensive. Also chickens have died out due to the bird-flue. So that's why eggs are so expensive, right now.
As a real estate guy, things are bad but wait until 12/2025 when interest rates are 17% and 10.00 gas nationwide.
If you need an expensive purchase then do it now. Get all your credit card debt paid by June 2023.
Maybe… I only buy what I need. So it doesn’t affect me that way. I still can save 50% of my income because materialistic things don’t interest me.
It is insane. If you don't gross at least $100K in my county you will likely need a cosigner or the equivalent of two month's rent as a deposit just to qualify for an apartment. A basic 800 sq. ft. 2 bedroom should run about $2800 or more. A studio might be had for $1600 and a one bedroom for around $3K.
It seems like many things are getting way too expensive these days and people with less income will suffer a lot if they don’t have plan to manage their lives.
Empires last approximately 250 years before they collapse.
The US is 246 years old.
The shit is approaching the fan.
Depends on what you’re buying I guess.
I’m not rich by any means but I’m not spending much on anything and I’ve still got lots of money left over.
u Houses, if buying or renting, are becoming very unaffordable in this country. I can see there being a dramatic increase in homeless people before too long.
No its just inflation because 1% of the population controls the wealth. When prices go up you have to work harder and or smarter to get the most money for your efforts
Yes a lot of things are, but these things fluctuate and prices will come back down again. Just wait till the next recession hits.
Trump really fucked us. The Simpsons predicted it.
https://www.youtube.com/embed/VXcYMvzZ7jk Last month's gas bill for heating and cooking increased by almost 150% compared last year in the same month. Food has increased a lot. Some things by 60%, others by well over 100% increase.
It’s definitely true prices on almost everything are raising and likewise that it is true wages are not keeping up with the cost of inflation.
I think yes, things are becoming unaffordable.
Of course they are, eggs are $10 a dozen milk about eight dollars for a half gallon. Meat gone through the roof.
not unaffordable, but defiantly more expensive.
We do not go out to eat as often, and have made other cuts as well to help for spending so much.
For most people, absolutely. My SO and I are "dinks" so it's not as bad for us, but it's definitely noticeable. I can't imagine how some families survive.
Superb Opinion