Inwestour
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August 10, 2023, 01:52:47 PM |
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This is true. I know a lot of businessmen who were forced to either shut down their business or sell it at such cheap price due to inflation. It is best to remember that the rich also consumes, they also buy from the market and hence they also feel the effects if inflation especially for their businesses. Yes, they are forced to sell their goods and services higher but it also cost them clients and customers who cannot afford the sudden spike in the rate.
Raising prices during inflation is not so easy, especially when it comes to even companies where competition is very high. In the case of monopoly companies, it is very easy to do this, they raise the price and the consumer has no other choice but to pay this price. But for private companies with great competition, this is difficult to do, because the consumer has less and less money and there are competitors who have more resources and will keep the price low for as long as possible, not all competitors will withstand this. A declining economy, coupled with high inflation, is bringing tough times for everyone, for business and consumers.
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mv1986
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August 10, 2023, 07:12:16 PM |
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Inflation does not effect only poor but its also a big threat for wealthy people and everything is of higher cost instead of vast amount of resources present in our country. May be the country's leader do not have any idea about the uses of these resources or may be they are scarcity of these resources but what I know is that here is abundant of gas, petroleum and water resources so they should worked on it to provide for each and every individual of a country.
You are absolutely right, inflation also affects wealthy individuals who run diverse businesses, as cost of doing business escalates when interest rates increase due to higher inflation rate. It is important to recognize that central banks continually strive to maintain inflation and interest rates at a reasonable level so that business can borrow money from banks at minimal rate to meet their financial requirements for business operations and growth. Achieving a balance between inflation and economic growth is an ongoing challenge for policy makers to ensure stability of the economy. Exactly poor and wealthy people are both affected. For example, for a minimum wage earner, comparing the prices of goods and services, their wages may not catch up, decreasing their purchasing power. This can make it difficult for them to make ends meet and afford basic necessities, which means lesser consumers for the wealthy individuals who are in line with business industries. Either way, we cannot deny the fact that inflation can have a ripple effect on the economy as a whole. They are both affected, but unequally. Inflation hits the poorest first because relative to their wealth or income they have to spend the most for food, housing, energy and mobility. This relative difference is absolutely important because the calculation is quite easy: Person A earns $2,000 and pays $1000 for existential needs, inflation drives prices up by 100% while wages stagnate, now person A pays $2,000 out of $2,000 for existential needs. Person B earns $20,000 and pays $2,000 for existential needs, all things equal, now person B pays $4,000 out of $20,000 for existential needs. Person B doesn't only keep 80% of their income despite inflation, but person B could theoretically decrease the cost for existential needs by moving into a smaller apartment or selling the expensive car for a cheap car. Person A has nothing left after inflation and can't anything about their lifestyle either.
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South Park
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August 10, 2023, 08:24:41 PM |
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This is true. I know a lot of businessmen who were forced to either shut down their business or sell it at such cheap price due to inflation. It is best to remember that the rich also consumes, they also buy from the market and hence they also feel the effects if inflation especially for their businesses. Yes, they are forced to sell their goods and services higher but it also cost them clients and customers who cannot afford the sudden spike in the rate.
And when inflation is high and money is scarce people will begin to cut on all kind of superfluous expenses in order to buy what they really need, so if a business is selling goods that while necessary they are not really indispensable then they will see a serious drop on their sales, this is what affected a great deal of businesses during the pandemic and a great deal of those businesses are still struggling as now people learned to live without those goods anyway and the demand never recovered.
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Uruhara
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August 10, 2023, 09:04:37 PM |
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When inflation is out of control it will cause several quite complex problems. And one of them is the decline in people's purchasing power which will slow down the circulation of money in the market. And if it continues for several periods, it means that a recession has occurred. And that is a fairly critical condition for economic growth for a country. But as long as inflation can be controlled then everything will be fine. It's just that inflation seems to never stop. Because we realize that prices that go up never go down again and keep going up from time to time.
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Compromise me
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August 10, 2023, 09:28:22 PM Merited by fillippone (1) |
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Inflation is something that anyone hates, those who have a fixed or irregular income will of course be affected by inflation, the value of money continues to decrease, so we have to always think about increasing our income.
I agree with you. Inflation decreases the buying power. Before 1 year same product price was one third but now same product price is too high. We have to think to increase our income. Our income directly depends upon skills which we have. If we work on skills then we can increase our income. We can also increase our income by making YouTube channel and work on it for one year without gaining money. After one year, YouTube earning starts and in this way we can beat with inflation. Job holders cannot compete with inflation because job holder depends on your Boss or government and Boss of business and government increase salary annually. Government can take out money from pocket of public at any time by print money. When government prints money, currency value decreases. Government can increase the rate of unit of electrical at any time . In this way, inflation increases. Business owners can beat with inflation by buying assets and they invest in assets.
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Aanuoluwatofunmi
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August 10, 2023, 09:46:21 PM |
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We cannot do without coming across the influence of inflation because the economy we run operates by the models and policies that favours the continuous occurrence of it, ours is to always have a back up to what to do immediately inflation is sighted in the way we run our economy, the world at large is in control of it and we should also take every necessary steps in working towards avoiding this from happening to us the unexpected way, the more money is being printed the higher the level of inflation and the higher the value of money decreases.
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doomloop
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August 12, 2023, 07:09:10 PM |
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Both of you made good points. Instead of letting your money be stuck in the bank with significantly low-interest rates that do not compare to the continuously increasing inflation, it will be better to invest in assets and Bitcoin. Between the two, it will be up to personal preferences and knowledge in which an individual will choose to invest. Personally, I do both, but it is nice to know there are options for our money to grow amidst inflation.
But again, be sure that you'll know the risk because it doesn't mean that you'll invest it in something where you have a 100% chance of getting it back. That is why others tend to hold their money in banks, but with a rich mindset, this is what they are doing: investing in something where you have a chance to gain more profit or earn more money. For myself, I both hold money in the bank and invest in assets, mostly digital assets like Bitcoin. I know this can't prevent inflation, but it can give me more income to fight inflation. Storing money in the banks might also be called as investing because they pay you some incentives but it's only smaller than those who are dedicated for this purpose. We also know that a smaller return means a smaller risk. That is the only good thing that banks can offer to us. I like what you are doing there. It can also be classified as diversification. Bitcoin is said to be a hedge against inflation, so we can really prevent inflation this way. It's only ironic if we sell our Bitcoins for cash and we HODL the cash for a while as that can still be affected by the inflation. I think it's better if we can just retain our money in Bitcoins. We can still use it for direct purchasing since Bitcoin is still a currency.
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Wakate
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August 12, 2023, 08:55:35 PM |
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We cannot do without coming across the influence of inflation because the economy we run operates by the models and policies that favours the continuous occurrence of it, ours is to always have a back up to what to do immediately inflation is sighted in the way we run our economy, the world at large is in control of it and we should also take every necessary steps in working towards avoiding this from happening to us the unexpected way, the more money is being printed the higher the level of inflation and the higher the value of money decreases.
inflation is a very important part to the economy of a country that is why the government always ensure that, there are some certain rules that are set aside to help the economy grow as quick as possible. Sometimes the law that is created might not solve the problem of the people that is why sometimes it can reverse to a level whereby there'll be high inflation leading to increase in price of foods, goods and cost of human labor. High inflation is caused by lots of factors which includes bad government, polices and war. Just like the current situation between Ukraine and Russia.
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19Nov16
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August 13, 2023, 01:03:59 PM |
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Anyone certainly does not expect to get inflation problems, because with inflation, the value of money will continue to decline and certainly makes us have to use emergency savings or sell assets, and it's time we must always get sources of income from others, for example with business, investment or others, Don't just keep quiet and blame the situation because our situation will be more difficult if we don't act immediately.
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Marvell1
Legendary
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Leading Crypto Sports Betting & Casino Platform
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August 13, 2023, 02:06:32 PM |
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Both of you made good points. Instead of letting your money be stuck in the bank with significantly low-interest rates that do not compare to the continuously increasing inflation, it will be better to invest in assets and Bitcoin. Between the two, it will be up to personal preferences and knowledge in which an individual will choose to invest. Personally, I do both, but it is nice to know there are options for our money to grow amidst inflation.
But again, be sure that you'll know the risk because it doesn't mean that you'll invest it in something where you have a 100% chance of getting it back. That is why others tend to hold their money in banks, but with a rich mindset, this is what they are doing: investing in something where you have a chance to gain more profit or earn more money. For myself, I both hold money in the bank and invest in assets, mostly digital assets like Bitcoin. I know this can't prevent inflation, but it can give me more income to fight inflation. Storing money in the banks might also be called as investing because they pay you some incentives but it's only smaller than those who are dedicated for this purpose. We also know that a smaller return means a smaller risk. That is the only good thing that banks can offer to us. I like what you are doing there. It can also be classified as diversification. Bitcoin is said to be a hedge against inflation, so we can really prevent inflation this way. It's only ironic if we sell our Bitcoins for cash and we HODL the cash for a while as that can still be affected by the inflation. I think it's better if we can just retain our money in Bitcoins. We can still use it for direct purchasing since Bitcoin is still a currency. The fact that we deposit money in the bank is also profitable but not significant and if inflation is taken into account, our currency depreciates heavily. In my opinion, depositing money in the bank is only considered a savings for short-term emergencies. Never view it as an investment or a store of value for the long term. So I wouldn't consider depositing money in the bank as diversification because our asset value is decreasing day by day. In theory, bitcoin is a decentralized currency, but so far, not too many stores or countries allow payments with bitcoin. So it would be inconvenient if we kept all our money in bitcoin. No matter what we say, fiat is the main currency, still the primary payment method, and still necessary in our lives.
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odunybiz
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August 14, 2023, 11:59:04 PM |
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The causes of high inflation can be attributed to the following: 1. Excessive Government borrowing 2. Unwanted and unstable domestic policy 3. Unsatisfiable or lack of domestic production
Yes, excessive borrowing can cause a high inflation to a nation because we have saw how many countries struggle to overcame this attitude of borrowing money that made them to lost some of their expensive resources just to ensure their name be erase among the countries that are in debted. Once there is unwanted domestic production in a country, it hard for such country to overcome inflation because that is some of the road for inflation to have access to a country and put the citizens into hardship through out the year. Bad leaders can also cause inflation in a country because once they have access to loot the government money, it will cause massive inflation that will take the government many years to recover. Energy price really have great effect on price of commodity. For example here in my country, the price of petrol went up twice recently and this has cause price of commodity to go up causing more inflation. Increase in energy price can't be left out as a factor causing inflation.
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rikybrosh
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August 15, 2023, 01:41:54 AM |
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Anyone certainly does not expect to get inflation problems, because with inflation, the value of money will continue to decline and certainly makes us have to use emergency savings or sell assets, and it's time we must always get sources of income from others, for example with business, investment or others, Don't just keep quiet and blame the situation because our situation will be more difficult if we don't act immediately.
we should act in the right way to avoid inflation. actually company get benefits from inflation, the excess raw material that they bought last year will give the company extra profit if the company produce product using that material in this year as the price of the product that they produce is increase because of inflation.
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YUriy1991
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August 15, 2023, 02:41:40 AM |
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Lack of purchasing power which is caused by inflation is encouraging economic uncertainty, and this is because many nations has been found wanting in production capacity, instead they encourage importation of consumable goods from other countries, the country involved will therefore put up a policy, that will compel the consumer country to exchange there currency to the currency of the country, they are purchasing from, this will further weaken and stagnate there currency to trigger high inflation rate.
The causes of high inflation can be attributed to the following: 1. Excessive Government borrowing 2. Unwanted and unstable domestic policy 3. Unsatisfiable or lack of domestic production
1. Excessive Government borrowing: the government of many nations has seen borrowing as a norm, there accumulated debts requires generation to come, to service, this is common in African countries where the government borrow funds not for establishing an asset or building an institution that can generate generate revenue, for them to either service existing debts and build more infrastructures, they prefer borrowing funds for either embezzling it or using it for things that are not accounted for. They do this without minding the consequences that may be accompanied with this act, at the end countries like this dips in high level of inflation and valueless currency.
Yes, this problem has always been a major artist everywhere, and the general question is always whether the above Government Debt is safe, and can the Government pay it and what effect will it have on future generations? Now, what we need to know, the first point at a certain critical point is seen as one of the Government's strategies in managing state finances, meaning that in this case the procurement of foreign loans is used to meet priority needs under reasonable conditions from creditors, which basically provides benefits for society and support economic growth. Well, in short, if their math is good, not corrupt in the implementation from the stakeholders, I'm sure the results will be directly proportional to what was planned and have the potential for a large post-borrowing return, I don't think it's a problem.
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Davian144
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August 15, 2023, 02:59:44 AM |
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Anyone certainly does not expect to get inflation problems, because with inflation, the value of money will continue to decline and certainly makes us have to use emergency savings or sell assets, and it's time we must always get sources of income from others, for example with business, investment or others, Don't just keep quiet and blame the situation because our situation will be more difficult if we don't act immediately.
Acting must always be there because it is always far better than being silent and blaming any circumstances. From what I have observed, inflation can also occur due to a lack of natural resources which are often used for daily production materials and a lack of expertise from humans who often sell their services for various fields. So to overcome this is certainly not easy, although it is not an impossible thing to overcome because everyone has to act in their life, be it through work or through honing their skills so they can manage natural resources well enough. we should act in the right way to avoid inflation. actually company get benefits from inflation, the excess raw material that they bought last year will give the company extra profit if the company produce product using that material in this year as the price of the product that they produce is increase because of inflation.
This is quite logical, because the condition of inflation is indeed a condition that is very liked by companies or factories that always produce goods using raw materials from nature. Because directly the company will benefit and those who often sell their services will also increase their prices so that people can only avoid this by acting on more jobs and honing their skills so that we can also sell certain services in this inflationary condition so that income in life can also increase.
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dothebeats
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August 15, 2023, 11:49:05 AM |
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Anyone certainly does not expect to get inflation problems, because with inflation, the value of money will continue to decline and certainly makes us have to use emergency savings or sell assets, and it's time we must always get sources of income from others, for example with business, investment or others, Don't just keep quiet and blame the situation because our situation will be more difficult if we don't act immediately.
Acting must always be there because it is always far better than being silent and blaming any circumstances. From what I have observed, inflation can also occur due to a lack of natural resources which are often used for daily production materials and a lack of expertise from humans who often sell their services for various fields. So to overcome this is certainly not easy, although it is not an impossible thing to overcome because everyone has to act in their life, be it through work or through honing their skills so they can manage natural resources well enough. I cannot agree more with you. There is no point in for hoping any change if we do not act. If we are just going to sit in a corner and blame whatever it is to blame for the inflation we are all experiencing then we are all just gonna be stuck here far longer than necessary. Find ways to battle the increasing price of the market, meaning find more sources of income and try to plan every expense. We cannot expect to find any changes if we do not change our own ways and actions.
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Uruhara
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August 16, 2023, 12:20:46 AM |
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Anyone certainly does not expect to get inflation problems, because with inflation, the value of money will continue to decline and certainly makes us have to use emergency savings or sell assets, and it's time we must always get sources of income from others, for example with business, investment or others, Don't just keep quiet and blame the situation because our situation will be more difficult if we don't act immediately.
In any situation and condition we will only be able to rely on ourselves. This includes dealing with economic crisis situations such as when high inflation occurs which begins to get out of control in a country. And to face it all we ourselves must make careful preparations. Don't let the pandemic tragedy of previous years have a major impact on our economy again. We must be prepared for situations similar to those of a pandemic. Because we don't know when the pandemic will come back. So it's better to have preparation than nothing. The OP talked about increasing local production and encouraging people to love local products more. Well, all of that is the truth that every country should start doing about encouraging its citizens to love local products more. Because it can encourage the improvement of the local economy to a better track. And maybe inflation will also be more controlled in this regard.
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xSkylarx
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August 16, 2023, 12:32:57 AM |
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Anyone certainly does not expect to get inflation problems, because with inflation, the value of money will continue to decline and certainly makes us have to use emergency savings or sell assets, and it's time we must always get sources of income from others, for example with business, investment or others, Don't just keep quiet and blame the situation because our situation will be more difficult if we don't act immediately.
Acting must always be there because it is always far better than being silent and blaming any circumstances. From what I have observed, inflation can also occur due to a lack of natural resources which are often used for daily production materials and a lack of expertise from humans who often sell their services for various fields. So to overcome this is certainly not easy, although it is not an impossible thing to overcome because everyone has to act in their life, be it through work or through honing their skills so they can manage natural resources well enough. I cannot agree more with you. There is no point in for hoping any change if we do not act. If we are just going to sit in a corner and blame whatever it is to blame for the inflation we are all experiencing then we are all just gonna be stuck here far longer than necessary. Find ways to battle the increasing price of the market, meaning find more sources of income and try to plan every expense. We cannot expect to find any changes if we do not change our own ways and actions. You have a point but again it is difficult to find another decent source of income right now as most people want it again you have no other choice because you are just going to blame the government and without doing anything you'll starve and still government don't care with you, another source of income is necessary right now even it is small income like selling foods with your co-workers or any side hustle you can think off as it can add up to your salary, right now hustle hard and lets just sacrifice our free time just to earn extra.
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dothebeats
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August 16, 2023, 09:39:29 AM |
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I cannot agree more with you. There is no point in for hoping any change if we do not act. If we are just going to sit in a corner and blame whatever it is to blame for the inflation we are all experiencing then we are all just gonna be stuck here far longer than necessary. Find ways to battle the increasing price of the market, meaning find more sources of income and try to plan every expense. We cannot expect to find any changes if we do not change our own ways and actions.
You have a point but again it is difficult to find another decent source of income right now as most people want it again you have no other choice because you are just going to blame the government and without doing anything you'll starve and still government don't care with you, another source of income is necessary right now even it is small income like selling foods with your co-workers or any side hustle you can think off as it can add up to your salary, right now hustle hard and lets just sacrifice our free time just to earn extra. Of course, however, the government still has some sort of obligation regarding this. We cannot fully say that they are blameless, but the point is we cannot do anything if we are just going to point the finger at anyone. We need to take control of our own situations, and even if it means husting harder than ever and sacrificing our free time just to earn more to keep up with inflation then so be it. No change will happen if we do not act on it cause if we stay inside our comfort zone the ones that will suffer in the end is not the ones we were blaming but ourselves.
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Davian144
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August 16, 2023, 09:45:03 AM |
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I cannot agree more with you. There is no point in for hoping any change if we do not act. If we are just going to sit in a corner and blame whatever it is to blame for the inflation we are all experiencing then we are all just gonna be stuck here far longer than necessary. Find ways to battle the increasing price of the market, meaning find more sources of income and try to plan every expense. We cannot expect to find any changes if we do not change our own ways and actions.
The key to change in life is acting to do work that can bring income. That is, complaining and blaming anything will not give us or anyone else anything, because in the end everyone has to work for himself according to the skills he already has. So in general we are all required to work in life to succeed ourselves under any circumstances so that additional work that can provide income is always more suitable to be done even though we are not in a condition of inflation, especially if we are in a condition of inflation. You have a point but again it is difficult to find another decent source of income right now as most people want it again you have no other choice because you are just going to blame the government and without doing anything you'll starve and still government don't care with you, another source of income is necessary right now even it is small income like selling foods with your co-workers or any side hustle you can think off as it can add up to your salary, right now hustle hard and lets just sacrifice our free time just to earn extra.
It's okay to sacrifice the time we have as long as the income can be very clear, because time is also an asset in life besides money. So that most people are willing to sacrifice their time to earn money because it has become a very normal thing in today's life, especially if at this time it is not easy to get a side job or additional work that can help reduce the cost of living in life. And for the advice you gave, I think it is also very suitable for some people who are trying to earn extra income for their lives.
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slapper
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August 16, 2023, 12:00:34 PM |
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Inflation, a beast we've created through our irresponsible acts, isn't merely a concept. It is the bleeding reality of nations who have neglected the fundamentals of economic health!
Lack of purchasing power isn't some twist of fate; it's a direct consequence of thoughtless policies. Let's address excessive government borrowing: a suicidal tactic, if ever there was one. African countries, as you mentioned, don't seem to borrow to empower their futures. Instead, they seem hell-bent on selling their tomorrows for today's trivialities! Borrowing without a clear plan of repayment or a vision for development is not just imprudent; it's sheer madness.
Unwanted and unstable government policy? Couldn't agree more. Why, in the name of all that is logical, would you import what you can produce? We're not talking about rocket science here. This is simple economics
A nation without robust domestic production is like a hollow tree; it looks strong from the outside but will collapse at the slightest push. Without empowering local producers, governments are digging their graves and ours
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