Really? "Someone" deleted my post because I posted facts?
Really? "Someone" deleted my post because I posted facts?
TruthOriginally Posted by NitroZ7
Not really enjoying these “raises” some of you have been lucky to get. Yes prices are rising, but it makes no difference to my line of work. I haven’t had a raise in 6 years, and I will probably be at this level forever with Medicare being basically broke. Physical, Occupational, and Speech Therapists have not received a penny raise with everything, and it will continue to be that way. The rising inflation kills us. We actually had a 15% Medicare cut on Jan 1st this year.
That is what is lost on many. Most of the wage gains have been eaten away by inflation and if you didn't get a raise you are actually worse off now. The rising asset prices don't mean much to the roughly 45% of people that hold no investments. At some point the Federal Reserve Chairman is going to have a tough decision to make if inflation keeps up.
And those that do have investments are mostly in employer sponsored retirement plans. Not like you can just go in there and grab some cash because you want steak tonight. Anyone that says inflation is not impacting people is disingenuous at best.
In fairness to TampaJim he was referring to the people who have assets and who have benefitted from the asset price appreciation. I was just pointing out there is a large segment of the population that is being hurt and that the Fed may start taking this into account. As you said alot of the appreciation is locked into peoples home equity and 401ks and it doesn't help you in the present unless you borrow against it (which I don't think is wise). Alot of people that get caught up in the wealth effect really end up getting hurt which is why I try to keep our standard of living the same regardless of what the market does. It giveth and it taketh away.
Everyone needs to be responsible for themselves. Live under your means, save.
Invest diversely, in real estate, brokerage accounts, retirement accounts, etc.
Find ways to save, it's not unusual to have inflation at various points in history.
Seriously, skip unneeded purchases. Eat less expensive foods, cut back a bit.
Japan 8.0%, UK 6.0%, Canada 5.0%, Argentina 48% ... it's truly worldwide.
While our Federal Reserve can taper, be careful what you ask. We're doing well.
Poke the bear too much, she will awaken and be VERY upset and destructive.
Food and energy aren't even included in the 7% inflation number. If they were, it would be much higher. Inflation is a stealth tax on people with no assets. I think demand destruction has quietly began. I know of 2 big purchases I have canceled indefinitely myself. I can't be the only one.
Hey don’t poke fun at Y2K fears 1 ounce gold krugerrand was 176 bux a piece in 99Y2K
Yep and that is how you fix inflation. They can't fix the supply problems but they can fix the demand.
Food ^ 6.3% overall. Junk down, bacon bring the banker, milk flat, eggs up, etc.
Energy is a global commodity. Blame the world, blame the traders, it's simple.
Want to control the impact, look within. You're doing the right thing, hold on now.
Unfortunately, you're correct about the stealth tax. In a straight up value equation.
However, the poor are still ... just poorer. Rich are still ... really rich. No true change.
Wealth disparity, that's another story entirely. In a nutshell, we will survive it.
Accounting for a power shift between cash equity & sweat equity, it will work out.
Whatever. I've got a marketable skill set that's very much in demand. If the crap does hit the fan my skill set will be in even bigger demand. A country boy can survive.
I want Spot Lock. Got one kid in college and another going in the fall. If I wanted Spot lock bad enough I could take a second job. Privilege is waiting for anyone willing to go to work. I’m lazy. Spot lock can wait a bit.
Maybe I was raised differently but sounds like you boys need a second job and you enjoy your life with SPOT LOCK. My kids got the help with the "car" for example but they for sure figured out how to keep it.
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