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Grittyville, WA

It was a great moment in history to be a borrower of money, not a lender. If inflation was always twice the rate you paid to borrow money, you could make no payments at all and 30 years later.... effectively (in terms of real value) owe much less than you did when you took out the loan.

I thought this was interesting... It was a great time to be a borrower...

I'm not great with the math but I think if this disparity held and you coild take out two mortgages, you could sell one if your properties 30 years from now to fully pay off the mortgage on the other, and not make a single payment the whole time! You'd score a free house.

Considering most Americans are in debt, inflation is actually going to give many Americans a big boost out of poverty? Strange...

4/23/2022 5:18:47 AM

formerly RGG

It just says to me keep your money spent or invested in something that appreciates in value such as real estate. If it sits around in a bank it will slowly lose it's value.

6/1/2022 3:16:31 AM

Grittyville, WA

Things arent that bad. But I think the fed raising interest rates will surely make things bad... there was a brutally honest interview on a public radio station, the economist said he has never seen the federal reserve banks create a good soft landing, ever. Basically the fed is a kid with his first remote control car.

Anyhow its probably time to do a redenomination of our currency... make a penny worth 20 cents and one dollar equal to $20. People would like that... but then the minimum wage would revert to less than a dollar an hour. And that part of it might not fly so well.

6/2/2022 1:04:22 AM