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Don't the wealthy have a right to complain about inflation like anyone else?
I think so. I just don't really see that happening. Of course, I don't know everyone's situation.
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I think so. I just don't really see that happening. Of course, I don't know everyone's situation.
No affluent people are not complaining as much. I am not sure what I am to anyone else but are income/assets enable us to be in most ways unaware of inflation especially when it comes to food and energy. Food we buy what we want and really don't pay attention to how much it cost and we don't buy inexpensive stuff by any stretch. We have more wealth each year and it grows faster than previous inflation and our income went up 20-21 much more than inflation.
That was planned for and our after tax portfolio continues to grow and spin off wealth that we really don't need as we are still investing. S
So no complaints here about inflation.
Dry aged steaks are what we eat and my wife has decided that's all we will eat etc etc.
Blueberries we got the other day and I am clueless about price. It is whatever Wegmans charges etc etc.
We discovered Goldbelly this week and in five days have spent over $500 in gift cards and food for ourselves.with more to be spent tomorrow.
I find it funny to hear wealthy retirees that until recently were enjoying the massive growth in their stock market investment accounts and were buying fancy cars and vacation properties, now complaining about inflation LOL.
Inflation is something we should all be concerned with.
We eat out once a week and I've definitely noticed the the prices have all gone up. At sit down places, each main course item is typically about $5 more than it used to be. At the grocery store I've seen prices are higher too - a lot of items I regularly buy seem to be around 20% more. It does make me have to consider how much I really want/need something and I'm reconsidering grocery delivery because I think they mark things up even more there.... I know some people are on leaner income than me and they are really struggling now - heating up, groceries up, gas still high, etc.- also the grandkids who are in their early 20s just starting out in lower paying jobs are really struggling to be able to make it on their own.
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I haven't heard the wealthy here or elsewhere complain about inflation.
They are typically least affected, and are grateful for so many previous years of prosperity. Many have worked through their response to inflation years ago.
There are still terrific bargains on some things (such as domestic airfare).
I still can find plenty of free things to do.
Insurance increases are going to require a strategy. But I survived A(?)CA, when my perfectly suitable HC policy of $300/ month was taken away and eventually I was paying $2800/ month for nothing better. Overall, I've been very fortunate, and am grateful for that.
The two most common discussion points on CNBC a business channel are COVID and the virus.
They are discussed frequently as they play a major role in wealth creation efforts these days.
Oh yeah labor shortages are up there also.
Inflation is something we should all be concerned with.
yes,we should all be concerned our savings in the bank will buy us less,it is losing its purchasing power.
But thats the way it is,folks in other societies have gotten used to it,they hoard gold bars,coins and jewelry.
Some hoard parts,components or collectibles they dont need,but they figure someone would need them,if you drive an expensive foreign car and need repair,parts would cost you more.
When other assets do well gold is a poor inflation hedge …it needs extreme negative real returns in cash instruments to do well for the most part , not just rising inflation where other assets stand up well.
You can see that right now as gold is lagging way behind commodity funds and stocks.
Even bitcoin is ahead of gold this year despite it being in a bear market now
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