The BAD News, Folks-It WON'T EVER Get Better

1. 83

   gmwilliamsposted 2 years ago

   
   Everything is getting more expensive.   Inflation & the cost of living will NEVER return to what it was in the past.   Oh no, instead inflation & the cost of living will steadily increase.  According to economic reports, a person has to have at least $2-4M in retirement savings to have a comfortable life.   Economic reports furthermore state that most young people will work until they die.  Also in the future, the middle class will be wiped out, leaving only the poor & rich classes.  Your thoughts?

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      Justine Guiaoposted 2 years agoin reply to this

      The exact same thing is happening here in the Philippines, with the inflation rate increasing at a phenomenal rate. The cost of living is also increasing exponentially. I guess, this is happening in most countries in the world. Probably, it is one of the aftermath of the COVID-19 pandemic in addition to the wars and natural disasters happening all around the globe. Will we ever recover from this? I don't know, maybe. But I think, the value of currency may not go back as thry used to.

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      1. 83

         gmwilliamsposted 2 years agoin reply to this

         Inflation & the rising cost of living are here permanently.  If anything, inflation will become more exorbitant.   One has to be in at least the lower upper income to be comfortable.   One study indicated that those who earn in the lower six figures are struggling socioeconomically.   The middle classes are in the process of being wiped out socioeconomically.  It will be just TWO socioeconomic classes-the poor & wealthy.   No, the value of currency WILL NEVER return to once it used to be.  In fact, the value of currency will even plummet even further.   The future will belong to ONLY THE UPPER, AFFLUENT socioeconomic classes.   Those who aren't in the upper, affluent socioeconomic classes will vanguish in one way or another.

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         1. 80

            Credence2posted 2 years agoin reply to this

            Why are inflation and rising costs here permanently? We said the same thing in the late 70s and that did not last, so why now?
            
            Your view of what it takes income wise to live comfortably  is, as I told you before, myopic at best. It is not so much how much you make rather than how much you can keep. I have lived in varied parts of the US and I see income needs and expenses vary with where you choose live. Your gloom and doom applies NYC, San Francisco and a few hot urban markets. But, if you want to live comfortably in Nebraska or Oklahoma, you can be of much more modest means.
            
            It depends on what it is you want and what passes as an objective measure of "comfortable".
            
            These affluent people and classes that you continue to refer to realizes that their wealth may well depend on the well being of those that work for them that help them accumulate it. The relationship may well be symbiotic.
            
            One Cannot get to the summit of the mountain if there is no mountain to climb.

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            1. 83

               gmwilliamsposted 2 years agoin reply to this

               Please wake up, man.  Inflation is permanent.   It will only get worse.  The value of a dollar will even plummet further.   There will be increased homelessness & even starvation.  Be alert. The only people who will prosper during this are the upper classes while those who aren't in those classes will suffer the deleterious effects of this inflation or rather hyper-inflation.

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                  Credence2posted 2 years agoin reply to this

                  And how do you know?

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               2. 96

                  AliciaCposted 2 years agoin reply to this

                  I agree with Credence. How do you know what will happen in the future? If you had written something like "I suspect" or even "I strongly suspect", that would have been okay. We can't make definite claims about what the future will hold, though, because we can't travel through time.

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                  1. 98

                     DrMark1961posted 2 years agoin reply to this

                     None of us can know the future. However, I strongly suspect, based on hundreds of years of US history, and thousands of years of human history, that inflation is something that we have to live with.
                     
                     Yes salaries have also gone up. I do not think that salaries have gone up as much as living expenses, however, so she may be correct in that things are not going to get better.

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                     1. 83

                        gmwilliamsposted 2 years agoin reply to this

                        Thank you Dr. Mark.   Economic studies indicated that inflation is going to get worse- much worse.   Dr. Mark, some people don't like to face reality.  They would rather prefer living in Fantasyland.   No things aren't going to get better but exceedingly worse.

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2. 78

   KC McGeeposted 2 years ago

   Lets hope this is not the case

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