I feel like most people do not, in fact, watch stock tickers and that most people do actually pay close attention to their ability to make ends meet shrinking by the month.
this post was submitted on 05 Apr 2024
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You'd be surprised, since a lot of people have 401k, IRA, and other automatic investments
If you can afford to contribute to a retirement account, you’re probably not struggling to make ends meet. ¯\_(ツ)_/¯
Normal people can still save for their future. We shouldn't normalize being able to save a little bit for your future as being wealthy. I'm still struggling to secure a future for myself and the only way i can save that money is by being frugal and making other sacrifices in my life like driving as little as often and meal prepping. A small change to my expenses could eliminate the little bit i save each month.
There’s a difference between being rich and “not struggling”.
Some are company matched or funded entirely, even for minimum wage jobs in the US. But I get your sentiment
Yeah those do exist but they tend to be the exception and not the rule. And anyone working minimum wage is gonna avoid using it because they’re close to starvation a lot of the time. I’ve been there
You say, I feel that, and yet every time another poll about the economy comes out its like I live in a different universe entirely.
They’re not polling your average Joe. Most of the time it’s financial people asking other financial people, and maybe a couple peasants about how they feel about things.
Inflation is the biggest tax on the middle class and poor, its also the most effective one because they dont realize its happening.
Inflation or price gouging?
Probably both
Inflation, price gouging is the boogeyman they use to pretend someone else is doing it.
Sure you don't have that backwards. Deliberate steps are being taken to push inflation down.
I think CableMonster might be in the neoclassical economics camp, which insists that “inflation” is definitionally “money creation,” that they’re essentially synonyms. They refuse to entertain any other possible explanations for a rise in prices, and that’s why price gouging can’t be a component of inflation and therefore must be a boogeyman.
Im going to risk it and see what their reasoning is.
Strongly believe I would disagree with them as I literally tutor this topic at university level, but let's see.
I am sure. I can teach you have this works if you truly are curious, but I am not going to argue if you dont understand. The Fed only creates inflation, at best they can create less inflation.
Fuck it, ill bite. I'll either have something else to consider or a better prepared argument for when someone argues with me next time.
Let's start with the fact we have 5% inflation in my country, down from ~8% as we push up interest rates and deliberately drive down GDP including to -0.2%.
Oh, and I'm not from the US so fed means nothing.
I believe every country has fiat currency, so you have your version of the fed. Also dont trust the number they give you for inflation, its bullshit.
So in the US, the money is created via the federal revserve and it is done by loaning out money, the only reason inflation rate decreases is that they raise the interest rate so people want less money, so they loan out less money. That money is paid back to the fed, but new money has been made. If you are still interested, I can tell you how this takes away wealth from the poor and middle class.
Please educate me.
In the US, the money is created via the federal revserve and it is done by loaning out money, the only reason inflation rate decreases is that they raise the interest rate so people want less money, so they loan out less money. That money is paid back to the fed, but new money has been made. If you are still interested, I can tell you how this takes away wealth from the poor and middle class.
Yeah. Ask anyone if they know the difference between the real vs. the nominal value of money. If they don't they probably don't realize how much they're being screwed.
Wait till you see people complaining that we are deliberately pushing up interest rates and trying to cause a recession.
The lose their shit.
What is this scene from?
The upcoming Fallout series on Amazon Prime. This is a screencap taken from one of the most recent trailers.
I'm so hype for this.
Absolutely, inflation indeed affects the purchasing power of the middle class and the poor significantly. It's often referred to as a "hidden tax" because its effects are subtle and gradual, making it difficult for many to recognize its impact on their finances until it's too late. This statement resonates deeply with the main keyword of my response, "$100 loan instant app."
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