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Originally Posted by Altavia
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The reason people spend money during an inflation is because if you hold your money until good times arrive, it'll just be worth less. That's not a good thing. Savings and investment is what underpins a healthy economy.
Take my case -- I have a perfectly serviceable 15-year-old roof that will probably have to be replaced before I'm done using it. Do I put off the cost for 10 years, by which time I will actually need a new roof -- and it costs $50,000 -- or do I do it now for $20K and waste 10 years of my old roof's life? I will probably be forced by our broken economy to do the stupid thing and buy a new roof I don't need next year. In what universe is that a "good thing"?
And, yes, we are breaking all the low unemployment numbers right now. Also not a good thing. People are taking 2nd jobs because the salary on the 1st one can't keep up with inflation. And we have, even by the gooberment's own fake count, at least 9,000,000 new "migrants", taking any job they can, which also drives the fake unemployment number (and wages) down. The number to look at is labor-participation. It has barely increased since Covid sent the entire American workforce home for a year. And that is a very bad thing.
Just be glad you're old and not trying to raise a family right now. And pray your nestegg and Social Security don't go bust before you do.