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How Inflation Makes Avg Person Poorer (Patreon)

Published:
2023-06-27 14:35:00
Imported:
2023-06

Content

This is how inflation makes average people poorer.

The cost of goods and services has been increasing at a faster rate than wages for the past 26 months. This means that people are having to work harder and longer hours just to keep up with the rising cost of living.

What is worse is Govts Keep Printing .... and keep cooking the numbers.

SOLUTION: Opt out of inflationary debasement with #Bitcoin

H/t to Sanjay for the share

Files

Comments

Anonymous

Thanks, Sanjay!

Anonymous

Now that’s a good plan😎 hoping to be a whole coiner one day..

Anonymous

And like Saylor says... Inflation depends on what you are buying. I've been saving for a home down payment and that inflation hurts very very bad...

Anonymous

Sanjay comes up with great facts and information.

Anonymous

Yep. Costs go up. Inurance still pays me 100 a visit and I have to fight them for it. Pay rent, staff, biller, marketing budget...BOOM. 15 patients a day means little. All I have is a pretty white coat.

Anonymous
>>111626666

Try and get into the market. Fixer upper to start maybe. Once you’re in and you’ve got your house, when housing inflates yours will follow alongside price wise and make it easier to buy your dream home later on. My kids are in the same boat. Prices are stupid right now.

Anonymous
>>111626666

And unfortunately I live where houses start over $1m so i need to save substantial amounts to restart somewhere new... And then reestablish income

Anonymous

I think Sanjay just sees someone post a cool Tweet and then sends it to James. I liked this Tweet an hour before James posted this. It's identical, word-for-word: https://twitter.com/Croesus_BTC/status/1673686763531821057?s=20

Anonymous

If US looks like that, I can imagine how it would look for a third world country 😵‍💫

Anonymous
>>111627933

It's really really really bad. Just got back from a few spots and the average people are struggling but have zero financial education. So they are being scammed by predatortory lending practices on phone apps from their own banks. It's terrifying. Imagine payday loans on steroids. Imagine logging into your banking app and then seeing a instant loan button. If you borrow $100, you owe $200 in 7-10 days at 40% interest and a $30 late payment fee every missed payment. It's all over SE Asia and Africa. It's going to be ugly when it all collapses.

Anonymous

My fiancé and I bought at the absolute top of the market back in august. But we knew our money was going to be worth less today if we had waited to buy

Anonymous

The real issue is that wages have been declining since the 70s. This recent increase in wags is minuscule, to say the least. You guys are focusing on the wrong metric.

Anonymous
>>111627286

I feel bad for Dr’s. Between all the costs, tele-medicine, running from patient to patient, etc. somehow all the money disappears between when I pay my insurance premiums and when the Dr gets paid.

Anonymous

James, listening to your last video I’m glad you’re not wearing rose glasses with Bitcoin and looking from all angles. The way the market developed where regulators are all in now makes me look even closer wondering what they have up their sleeve. On the flip side, maybe this was the plan all along. If it was clear that the US created Bitcoin other countries and regular investors would never embrace it. Now that they have embraced it the US, IMF, FED…. Can come in and control it (to a point) and reap the rewards. Who owns that wallet with the million Bitcoin???

Anonymous
>>111627724

Great, informative content exists everywhere but it's useless if no one sees it! Sanjay is a great info-miner. I'm glad he's on our team! Thanks Sanjay!

Anonymous
>>111628363

That's even worse than here in Brazil, financial education should be mandatory in schools, but of course the country leaders would never teach people how to defend themselves from the system.

Anonymous
>>111627724

Yeah I’m not implying anything negative by it. Just an observation.

Anonymous
>>111628618

There is that too. Insurance isin the business of making money, not caring for people.

Anonymous
>>111628626

We’ll probably never know. Don’t listen to what they say Do what they do.

Anonymous
>>111626666

FHA loan should help, but yeah 3.5% it’s still a lot down payment on million plus. Maybe take the money you are saving for house and put it in Tesla or Bitcoin so it grows faster than savings. Once you have enough for down payment sell off on the Tesla/bitcoin.

Anonymous
>>111637518

That's what I've been working on and didn't know there were cycles when I started. And have a huge setback with Celsius. But I'll do at least 10% down loan... Those fha programs are terrible in the small print and ongoing fees that never pay back or provide any benefits

Anonymous

Maybe the title should be "How inflation *made* avg person poorer", in past tense. Also 65% of US residents are homeowners, many of which had their wealth skyrocket with inflation. All that money for stupid spending must be coming from somewhere. Most of the country does smart spending at Walmart, and the other half gets ripped off. A tale of two Americas.

Anonymous
>>111627286

I worked in the construction business years ago for a hospital system. I helped build two office buildings just for insurance employees. I drove past that office park last month and there are now 2 more multi-story buildings just for more insurance employees. Unfortunately, none of the hospitals themselves have gotten any larger. Very telling.

Anonymous
>>111628474

Look on the bright side….perhaps you got a better interest rate than you could now? Just keep your credit clean….When the feds have to go back down close to zero on interest rates, then you can refi.

Anonymous
>>111626666

In the early 90s I bought a duplex, over 2,200 sq ft my side, on two acres in the Northeast.Yep divorced and in graduate school at the time with two small kids. At that time, I needed the rental income from the other side(1800 sq ft). Happy to say, decades later, I was paid promptly each month. Not even one month lost. In time, I remarried and moved out and rented my side as well. For me, the best decision in my life was to buy that beautiful duplex on two acres. Each side with three bedrooms and 2-3 bathrooms. Sheldon, think about being a landlord in a small way is a great way to enter the real estate market. I believe banks will take 70% of the rental income as part of your income. Best!

Anonymous
>>111645880

Absolutely! You made a very smart decision. Outside of the norm, and you reap the benefits! Thanks for the creative suggestion!

Anonymous
>>111628626

Even if the CIA does own it, it may still be an amazing invention useful to all. Bank cryptography was pioneered by the porn industry. The chainsaw was invented to assist in human births. Many great/useful things came from “questionable” beginnings.

Anonymous
>>111627286

Marina, You are forgetting something. If you worked for say a hospital or someone else only one person could fire you. Why? Who knows? They do not like your accent or the color of your hair? Since you are self employed it would probably take many folks (thousands?) to fire you. For me, you are in a better position having way, way more than one person who can fire you. Being self-employed is the happier, safer way. Mind you, I have never been fired yet I see the advantages of being self-employed. (Currently self-employed.)

Anonymous
>>111627286

I swear, insurance would make more money if they didn't fight so hard not to pay.

Anonymous
>>111626666

Coincidentally, I was approached again on Sunday by a high-end builder interested in my first real estate purchase. Of course, I have a number more since then. Still my duplex is my “nearest and dearest”. Guy Tony suggests a fixer upper. Perfectly fine if you have the time and skill sets. Being, not a guy, and not having a background in carpentry,etc., I opted to be a super-small “landlord” instead. Sheldon you are in the right place. You may start off in real estate however in time one can accumulate other assets such as Bitcoin.

Anonymous
>>111627286

Yes and that’s why I pay cash and don’t carry health insurance. $100-150 per visit for the family physician and usually $250 for a specialist and everyone is happy. My premiums were $2400 for a family of 4 with $8k deductibles. I love my doctors

Anonymous

Is this the same for EU?

Anonymous
>>111627286

Coincidentally, I pay in Europe under $100/month with a 500 euro deductible just in case I have an emergency. Meanwhile, if I need a flu shot I pay about 20euro to see the doc and another 15 euros for nurse to give me the flu shot. I agree I think the insurance companies are milking the U.S. Health system.

Anonymous
>>111627724

It’s good to have a discerning team looking out for us. Thanks Sanjay and James.