8 ms·
6% core inflation with wage growth flat. And that doesn't even include housing prices, which went up 25% last year alone where I live. Am I the only one feeli
by gtmitchell 5y ago
6% core inflation with wage growth flat. And that doesn't even include housing prices, which went up 25% last year alone where I live.
Am I the only one feeling entirely hopeless about the prospects for my financial future? How does everyone else deal with this?
- hmate9 5y agoSpending your money is probably the best option imo. Gold and even some bitcoin as inflation hedge is a good option.
- Mezzie 5y agoI saw this coming and knew I'd need some things when the stimuli hit, so I bought a computer and some other stuff I needed. It extended me a little more than I would have liked, but I have to admit it was the right call. I still would have needed what I bought, but it would have cost more (or I would have had to buy a different - probably more expensive - item due to supply chain issues) if I waited. I hate being incentivized to be 'irresponsible'. It feels like I'm living in upside-down world.
- snikeris 5y agoFind a higher paying job. Inflation screws people who sit tight.
- bladegash 5y agoWage growth was flat when taking into account inflation. It was not flat in and of itself. In other words, I believe inflation adjusted wage growth was 0.1%, or a wash when taking into account inflation, per the #’s.
- hourislate 5y agoYou just need to get a job at a FAGMAN company so you can live at the office and eat all the free food. Shower in the gym and sleep in the lounges. If this is not possible you need to stop spending. The only things you should be purchasing in this type of environment is food (real food it's cheaper), fuel and paying bills. No spending on anything else, clothing, going out, Chinese crap. Save what the Government is stealing from you through inflation.
- TremendousJudge 5y agosounds like a really fun and fulfilling life to live
- hmate9 5y agoMaybe (and its a big MAYBE) this works if you are 22 years old with no family or relationships. Otherwise this sounds like a terrible option and a depressing way of life.
- the_doctah 5y agoI've never seen the FAANG acronym written that way anywhere ever
- pembrook 5y agoArguably, its a more accurate acronym since Microsoft is more valuable than all of FAANG except for Apple (and Microsoft is more pure-play tech than Amazon or Netflix). Also, my inner 1990s 12 year old boy mind thinks it is funny. So there's that.
- chrisco255 5y agoOnly way to beat inflation is with risk-on assets such as high growth tech stocks or BTC/ETH.
- Yes2020 5y agoThere was an interesting article on what could be driving housing inflation a couple of weeks ago-cant find the link. It was about the soaring prices on billionaires row in Manhattan. The idea in the article is investors are trying to increase the liquidity of real estate assets down the line towards the higher liquidity of stocks. The results are more investors seeking returns from real estate, buying up buildings as if they were stocks. This can cause a fast step change in demand against the slower increase in supply, driving up prices quickly, which in turn drives up rents. Energy costs hit this inflation as well, because most buildings need heating and/ or cooling during the year. With the supply of traditional energy being artificially restricted, this drives up the costs associated with real estate, increasing everyone's costs. Look at what's happening in NYC.
- brimble 5y agoI'm definitely not loving watching the bottom edge of "upper-middle" receed away from me, just as I was approaching it.