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If you have a couple million, do invest it in a highly diversified portfolio which includes crypto, oil, tech, transports, precious metals, a little bit of cash…. Diversify as everything can’t fall at once. During inflation period everything goes up up up up together but cash doesn’t go up so definitely do not hoard cash. After that cash may climb as the job market collapses. So diversity
Make sure any mortgage is fixed rate
If you don’t have much saved be prepared for some pain. You will need to take on extra jobs to keep up with the pace of food and utiiity prices. These prices are not leveling off any time soon; expect prices to possibly double including rent and gas over the next couple years maybe even triple. This will get worse not better and if/when it does halt it will with very high probability be due to an economic recession where everything as we know it will be out of business and jobs gone.
Job wages will not climb , instead jobs will disappear and everyone will have to cut back. At first everyone will try to borrow funds by private loans or credit card approvals to hold what they can’t budget to throw a bill on a tab, while exhausted with no savings left so they can snooze this dilemma for a moment of peace with the other option being no food on the table for their family.
The credit card option is a disaster but when when in moment it’s starving to death vs charging so you can eat food and water things begin to change. But also at this point credit card companies will be upping APR on purchases and revolving balances to higher rates than ever seen before and it forbidden to do so by regulations, will cut credit lines to everyone’s balance due and disapprove new credit card applications for all except those with credit scores above 800. Some will commit petty crimes to go to jail just to have food and housing in a cell.
After most businesses close there won’t be jobs, at that point inflation will taper off but only because there won’t be money flowing to be found. If Fed goes to 0 borrowing rate again or even prints money qe the dollar will render worthless
The future might be crypto I don’t know. The future economy will not be grim forever but we will see a very dark dilemma and after that ends a lot of things we see now will be unrecognizable in the new recovery after the pending depression
Baby boomers as leaders are making tough decisions they never wanted to be the ones to do. They were the ones who fought so hard for live for today ease the now don’t invoke misery where not needed. So they allowed close to 0% interest rates since 2008! With a red hot labor market they broke the traditional rules. They didn’t want to be their parents who were the polar opposite on live only for today. Those younger than them don’t even know what it means to save a penny. But they still have the hindsight of their parents who are now already dead and now baby boomers are unleashing the wisdom they never hoped to have to deploy….. guiding the way to how we really tackle this next major crisis, and they don’t want to think about it but together we know we are in trouble ….major trouble ahead
Last edited by Freesponge; 04-29-2022 at 04:53 AM..
If you have a couple million, do invest it in a highly diversified portfolio which includes crypto, oil, tech, transports, precious metals, a little bit of cash…. Diversify as everything can’t fall at once. During inflation period everything goes up up up up together but cash doesn’t go up so definitely do not hoard cash. After that cash may climb as the job market collapses. So diversity
Make sure any mortgage is fixed rate
If you don’t have much saved be prepared for some pain. You will need to take on extra jobs to keep up with the pace of food and utiiity prices. These prices are not leveling off any time soon; expect prices to possibly double including rent and gas over the next couple years maybe even triple. This will get worse not better and if/when it does halt it will with very high probability be due to an economic recession where everything as we know it will be out of business and jobs gone.
Job wages will not climb , instead jobs will disappear and everyone will have to cut back. At first everyone will try to borrow funds by private loans or credit card approvals to hold what they can’t budget to throw a bill on a tab, while exhausted with no savings left so they can snooze this dilemma for a moment of peace with the other option being no food on the table for their family.
The credit card option is a disaster but when when in moment it’s starving to death vs charging so you can eat food and water things begin to change. But also at this point credit card companies will be upping APR on purchases and revolving balances to higher rates than ever seen before and it forbidden to do so by regulations, will cut credit lines to everyone’s balance due and disapprove new credit card applications for all except those with credit scores above 800. Some will commit petty crimes to go to jail just to have food and housing in a cell.
After most businesses close there won’t be jobs, at that point inflation will taper off but only because there won’t be money flowing to be found. If Fed goes to 0 borrowing rate again or even prints money qe the dollar will render worthless
The future might be crypto I don’t know. The future economy will not be grim forever but we will see a very dark dilemma and after that ends a lot of things we see now will be unrecognizable in the new recovery after the pending depression
Baby boomers as leaders are making tough decisions they never wanted to be the ones to do. They were the ones who fought so hard for live for today ease the now don’t invoke misery where not needed. So they allowed close to 0% interest rates since 2008! With a red hot labor market they broke the traditional rules. They didn’t want to be their parents who were the polar opposite on live only for today. Those younger than them don’t even know what it means to save a penny. But they still have the hindsight of their parents who are now already dead and now baby boomers are unleashing the wisdom they never hoped to have to deploy….. guiding the way to how we really tackle this next major crisis, and they don’t want to think about it but together we know we are in trouble ….major trouble ahead
What does this have to do with illegal immigration?
I meant to post it in general politics oops… how do I move the post to the right place? Help
The Mods can move it as I let them know that this topic doesn't belong in here.
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