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how long can we continue like this though? In the end, a shock inflation will be even more disasterous as it will wipe everyone's savings. Also, either way, at
by kazen44 5y ago
how long can we continue like this though?
In the end, a shock inflation will be even more disasterous as it will wipe everyone's savings.
Also, either way, at some point the system will reach a point in which affording basic needs becomes more and more of a problem, especially if wages are not raised. The US had a stagnat minimum wage for nearly two decades.
- gibba999 5y agoWith bleeding inflation, and an ongoing pandemic seemingly forever? I'm not sure. My estimate was that 50% inflation as a one-time is about what it would take to: - Take drastic actions to bring the pandemic under control - Not drive debt-loaded businesses under - Not drive people out of mortgages This was at the very start of the pandemic. It's harmful, but I still haven't figured out a lower-harm alternative. The longer we delay, the more costs wrack up. I suspect at some point, the above will be too expensive too. Also: Inflation means everything goes up, including wages. We're seeing that right now. Both savings and debts get wiped out.