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I read this and it seems like the advice is "deal with it, don't keep a savings and live paycheck to paycheck, buy assets especially if shortages start occurrin
by foxhop 5y ago
I read this and it seems like the advice is "deal with it, don't keep a savings and live paycheck to paycheck, buy assets especially if shortages start occurring."
Seems like bloomberg is prepping the masses to live in poverty.
That said, the advice is sound if you really don't make that much money. This is the same thing the farmers do in "poor" countries after they get a "huge" (for the region) payday after the harvest.
All the money ends up flowing to the corps.
- sleepysysadmin 5y ago>Seems like bloomberg is prepping the masses to live in poverty. That's what high inflation does. The government printed significant amounts of money as per benefits during covid. They did this to prevent a housing crash and subsequent harm to the wealth of society. The thing is... the housing crash is only 1 market. It is actually better to have housing crash relative to how poor we are about to become as a whole. Its remarkable that the decision to blow up inflation directly benefits anyone who owns a house. Regardless of their debt owed on the house. This will effectively be the poor class paying the most to prevent rich house holders from pain.
- lm28469 5y agoMost americans already live paycheck to paycheck according to several studies. https://www.prnewswire.com/news-releases/nearly-40-percent-of-americans-with-annual-incomes-over-100-000-live-paycheck-to-paycheck-301312281.html https://www.prnewswire.com/news-releases/nearly-40-percent-o...
- itake 5y agoHow did ppl in this situation survive the pandemic?
- ren_engineer 5y ago>Seems like bloomberg is prepping the masses to live in poverty. That's pretty much the job of the mainstream media, defend status quo and normalize anything that threatens status quo. We've gone from inflation being a conspiracy, to inflation being transitory, to inflation being around for awhile but not that bad, to the media giving advice about how to handle hyperinflation. All within the span of a few months but don't worry inflation(which didn't exist 6 months ago and was a conspiracy) is actually a good thing, CNN will show you how to make money off it https://www.cnn.com/2021/11/24/investing/inflation-stocks-sectors/index.html https://www.cnn.com/2021/11/24/investing/inflation-stocks-se...
- jeromegv 5y agoInflation has been around since forever and within the living memory of a lot of people, i don’t think any serious economist said that inflation is impossible and would be a conspiracy theory. You’re basically building a straw man.
- mgh2 5y agoPopulation Growth and Inflation https://www.economy.com/getlocal?q=a7c139c0-2b8c-4abf-9b65-bd8b11392939&app=eccafile#:~:text=There%20is%20suggestive%20evidence%20that,in%20response%20to%20declining%20population https://www.economy.com/getlocal?q=a7c139c0-2b8c-4abf-9b65-b....
- ren_engineer 5y agoHere's Nobel Prize winner Paul Krugman saying back in June that the inflation "panic" was dead and that the Fed had everything under control. I can find 100 other articles from economists with similar credentials saying the same thing a few months back https://www.nytimes.com/2021/06/21/opinion/inflation-economy-biden-fed.html https://www.nytimes.com/2021/06/21/opinion/inflation-economy... These are the same people complaining that citizens don't trust the government and experts. Trust has to be earned
- tw04 5y agoThat's an opinion piece, not a news article. As indicated by the giant "Opinion" at the top of the article. Here's an opinion piece stating just the opposite on the same site. Odd they'd publish that if they're intent on "covering it up" as you imply. https://www.nytimes.com/2021/11/16/opinion/biden-inflation-spending-manchin.html https://www.nytimes.com/2021/11/16/opinion/biden-inflation-s...
- newaccount2021 5y agoKrugman is so wrong, so often, that it is now fair ball to call him an Actual Idiot, prizes or not
- tw04 5y ago