Quote:
Originally Posted by RICH1
It's obvious INFLATION is here but, how can Mr. Powell or anyone for that matter control it? It seems that the fundamentals have been ignored and consumers are creating their own problems! Will consumer demand for products decrease and prices start to fall? Didn't see this coming?
|
Not sure what is being asked. Any valid response would take books. My view, we have a huge national debt. Just like when you buy a home and take a mortgage they tell you you will pay it back with cheaper dollars. Dollars devalued due to inflation.
We hear talk about $15 minimum wage. Aside, I recall when minimum wage was .50.
We are told the CPI consumer price index is now 5%.
With a national debt, truth I've lost count and when numbers are TRILLIONS I lost comprehension at one trillion. I think it is now 30 trillion if, we devalue the real value of the dollar by 5% the CPI, What is 5% of 30 Trillion?
Destruction of savings. Reality look at the debt clock. Last time I looked, I need to collect my courage to look, the average American has 10,000 in savings and owes 85,000. A 5% loss of value or the dollar costs them 10,000-5%=500 but devalues their debt by 85,000-5%=4250. The reason deflation is so feared by people driving this thing.
Inflation, we too are guilty. We cheer that our homes are going up in value and at the same time complain that food, cars, clothes etc cost more.
Control, like most things, I am glad I do not need to make the decisions. I have the right to complain. Solutions? I need to decide what I choose to do about what is not what should be. Oh and wrong actions on my part, I need to accept responsibility and any loss for the decisions I make.