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August 03, 2023, 04:58:47 PM |
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There is this you must know about some countries especially Nigeria, the importation rate in our country is really high especially when nothing is functioning in the nation, but they kept borrowing money for no reason and I can't specifically say this is what they are borrowing the for or how often they had to utilized those borrowed funds to boost our economic growth. Take a good look at Nigeria, this is a country that is so industrious and resourceful filled with energetic people who are always creative to even independently do their business without the government supporting them financially or create employment opportunities for her citizens.
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Gyfts
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August 03, 2023, 07:36:51 PM |
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3.lack of domestic production: government of many countries practically don't have anything to offer, the keep on wasting the little resources available to their reach, failing to encourage local production, the government should look into locally made goods, this will avail them the opportunity to do business with countries that are interested in the product and services, as the case may be, they should make it their priority to lure local investor, reach a compromise with them, allow them to produce at a minimal taxing rate, this will enhance the domestic needs of the country, No doubt we need each to survive but not in everything.
This doesn't cause inflation. If there are shortages of supply causing a rise in demand and, in effect, the prices of a particular product, the market will respond by ramping up production and the prices will begin to stabilize. You'll see cycles of this happen in a lot of sectors. For there to be significant inflation, you would need shortages in many sectors combined for the overall CPI to be significantly effected.
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Onyeeze
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August 03, 2023, 07:48:48 PM |
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It depends the country you are living, inflation can't be overpowered money but the thing is that I understand that because of the rate of inflation now you may conclude that inflation over power money, but I don't believe such because their is multiple ways money can over escape inflation, you can escape inflation through investing to a place inflation will not affect and investing in bitcoin should be one of the roots to escape inflation as I assumed.
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Porfirii
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August 03, 2023, 07:52:43 PM |
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In my country, some people talk about the "inflation of the excuses": Ukraine is at war? let's increase the price of everything; people keeps buying? let's keep increasing them.
I would add a new reason to the list: the negotiation power of consumers against big companies is decreasing exponentially due to modern metrics. For example, big food chains can calculate with great precision the price consumers are willing to pay for a given product thanks to, for instance, fidelity cards (not to talk about the effect of increasingly sophisticated marketing tactics). We all know what happens in any negotiation when a party has more information than the other.
In addition, I recently read that it more effective to address the 20% of heaviest buyers who purchase the 80% of the goods than to target more of them. So, it doesn't really matter if you don't buy because something seems to expensive to you: even if seven more people out of ten did the same, it would still be profitable for the big company, who won't lower the price, until you realise that if you ever want that item you'll have to pay the excessive price they ask for it.
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Sim_card
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August 03, 2023, 08:12:52 PM |
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Inflation exist because of fiat, for me they are just one.
Anything that can be control by the government can be manipulated by them, and makes thing worst without them being exposed of taking this kind of problem as an advantage to take their people's money. The higher the inflation, the more taxes they could gain for the entire population of their nation. Only wealthy people are not being affected by inflation, only the poor ones suffer and the Government doesn't even care at all.
Well, they'll do little something about it just to show the public they actually "care" and they're "doing" their job as public servants.
I see to your point,since government own fiat,they will use it to manipulate the economy so that the poor ones will remain poor and depend on them for a living. With this,the government will easily make the poor ones dance to their tones by making them surrender to their government with harsh economy. It is only the wealthy ones that are safe from inflation because no matter how high the price of commodities are,they will still afford it without a problem.
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Unbunplease
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August 03, 2023, 08:21:04 PM |
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It depends the country you are living, inflation can't be overpowered money but the thing is that I understand that because of the rate of inflation now you may conclude that inflation over power money, but I don't believe such because their is multiple ways money can over escape inflation, you can escape inflation through investing to a place inflation will not affect and investing in bitcoin should be one of the roots to escape inflation as I assumed.
How investing in bitcoin helps avoid inflation. The price of bitcoin goes up and down. There is no certainty that the price will constantly recover. The price may reach its limit and bitcoin may be abandoned, pushing cheaper assets into the mainstream
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livingfree
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August 03, 2023, 08:35:33 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
And all of that results to low gdp as well. In my country, some people talk about the "inflation of the excuses": Ukraine is at war? let's increase the price of everything; people keeps buying? let's keep increasing them.
I think this can be found everywhere. I hate to admit that I've observed the same thing that these things aren't just the result of the war. While many businessmen and merchants are just taking advantage of the situation. Oil price goes up and being followed by the goods, and when it goes down these businessmen and merchants won't just go back to what it should be and they'll reason still about the inflation and high cost of everything.
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Abu-Naim
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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
These variables do contribute to an increase in inflation in a country, starting with their currency depreciating against the currency of the nation from which they borrow money or from which they buy products since they must convert it before buying the items they want. If the government begins to borrow money from other nations, it is a sign that they are losing their moral authority because they are unable to generate enough income to meet their needs. Furthermore, taking on too much debt renders a nation economically helpless because its leaders will be preoccupied with finding ways to repay their debt rather than developing productive ideas, which will ultimately lead to the collapse of the nation and make life difficult for its people.
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Johnyz
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August 03, 2023, 09:51:55 PM |
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It depends the country you are living, inflation can't be overpowered money but the thing is that I understand that because of the rate of inflation now you may conclude that inflation over power money, but I don't believe such because their is multiple ways money can over escape inflation, you can escape inflation through investing to a place inflation will not affect and investing in bitcoin should be one of the roots to escape inflation as I assumed.
How investing in bitcoin helps avoid inflation. The price of bitcoin goes up and down. There is no certainty that the price will constantly recover. The price may reach its limit and bitcoin may be abandoned, pushing cheaper assets into the mainstream There’s no way to avoid inflation but if you want to earn more over the inflation rate, then investing are one of the option that you can have and Bitcoin is also there. BTC is volatile anyway, there’s no assurance for the profit but of course if you know what you are doing I’m confident that you can beat Inflation with your Bitcoin investment, all you have to do is to be more professional and trade confidently.
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Onyeeze
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August 03, 2023, 10:01:39 PM |
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It depends the country you are living, inflation can't be overpowered money but the thing is that I understand that because of the rate of inflation now you may conclude that inflation over power money, but I don't believe such because their is multiple ways money can over escape inflation, you can escape inflation through investing to a place inflation will not affect and investing in bitcoin should be one of the roots to escape inflation as I assumed.
How investing in bitcoin helps avoid inflation. The price of bitcoin goes up and down. There is no certainty that the price will constantly recover. The price may reach its limit and bitcoin may be abandoned, pushing cheaper assets into the mainstream I said investing investing in bitcoin will help to escape inflation, why do you think that during inflation depending on the country you base you will see many people rushing to invest their money on bitcoin, what they doing is to retain the value of their currency so that it will not depreciate in value, and they know that bitcoin have two regulations and the two regulations is either bitcoin fall and they make loss or bitcoin increase and when bitcoin increases the investor have escaped inflation at that moment
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Emmanuelex
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August 03, 2023, 10:18:06 PM |
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This is the state of some countries today, especially in the third world. The governments are just borrowing lots and lots of money. A new government gets into power, and the first thing they do is to borrow money and hang it on the neck of the country when they leave office after embezzling money. They don't even invest government money in funding local production, rather they would be relying on importation. This is killing a lot of countries, seriously.
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STT
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August 03, 2023, 10:34:00 PM Last edit: August 03, 2023, 11:36:31 PM by STT |
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Its not certain or absolute that a paper note for money must lose money. If we have a fixed ratio of paper to a set value then it cannot lose value in that normal way except by default otherwise its just a paper equal and has utility by means of easier circulation and divisibility. Unfortunately what has happened is the ratio of value to nominal paper note figure is variable and invariably the ratio loosens almost constantly. By design central banks are determined we have inflation of 2% per year so that much is true, they have no target to maintain value. Over the course of your life 2% is alot of accumulated losses. Factors to look at are fiscal deficit and trade deficit, both these things will indicate acceleration of losses.
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Fivestar4everMVP
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August 03, 2023, 10:59:03 PM |
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I am not an economist, but i do know the physical effect of inflation on fiat currencies , and also know that it doesn't promote economic growth both in the short and long term, but rather, create hardship based majorly on the high cost of living, which also is always as a result of inflation devaluing the currency, causing the price of things to skyrocket over the roof.
As long as this world is concerned, ive said it one time here that, we can never have a perfect system, or perfect economy, and a fiat currency that does not loss value over time, paper money can never maintain its value long term, and why?, lets not dive deep into the intrics, but lets put things in a layman's language, some thing a five years old child can understand, paper money is unlimited in production and circulation, as long as government keep printing more money , not minding how much money is already in circulation, paper money will continue to lose value overtime, the more common something becomes, the more the society values it less - this is a common rule.
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shinratensei_
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August 03, 2023, 11:31:35 PM |
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well the worst thing is that, we can do nothing to prevent such inflation from reducing the value of our money which in turn also reducing our buying power, its just how it is and I guess we should just move on and instead try to find another source of income, honestly considering the fact that having less than 2% inflation rate is already considered as good, regardless its still inflation occurring towards the economy overall, it still means loss overtime towards our assets, it just means that just saving up the money in bank will instead cause us to lose money, the wisest decision nowadays is to invest and also add source of income. that way we will be spared from these inflations.
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AmoreJaz
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August 03, 2023, 11:42:26 PM |
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well the worst thing is that, we can do nothing to prevent such inflation from reducing the value of our money which in turn also reducing our buying power, its just how it is and I guess we should just move on and instead try to find another source of income, honestly considering the fact that having less than 2% inflation rate is already considered as good, regardless its still inflation occurring towards the economy overall, it still means loss overtime towards our assets, it just means that just saving up the money in bank will instead cause us to lose money, the wisest decision nowadays is to invest and also add source of income. that way we will be spared from these inflations.
how we survive the inflation really depends on how we attack this kind of problem. should look at personal level, on how we can address this like finding side jobs, reducing costs, not buying luxury items or tending your own garden. we can't rely from our government so we need to find ways how to help ourselves in this situation. blaming the government won't do any good.
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ChiBitCTy
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August 04, 2023, 12:27:03 AM |
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Nice write up here. This is something that I'm often discussing for work. Here in the United States inflation rose to 40 year highs, somewhere around the level of 9-10% (on average). Some stuff inflated 60-7-80%...crazy stuff. Like seafood for example exploded. Thankfully we've managed to get it to come back down to earth..where they say it's around 4% or so, but I still feel like it's much higher.
FINANCE TIP: Never keep your cash savings at a regular type bank accounts such as Chase/Wells Fargo/etc. Make sure you use online banks (or some credit unions) which offer much higher interest rates. Bannkrate.com does a good job of showing who's currently got the best rates. Just for example Chase banks and Bank of America (the worlds two largest banks)savings accounts have an annual interest rate of .01%. Ally Bank has an annual interest rate of 4%. One is keeping up with inflation and one isn't even close..ie you're losing money in it! INSANITY
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Darker45
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August 04, 2023, 02:35:12 AM |
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FINANCE TIP: Never keep your cash savings at a regular type bank accounts such as Chase/Wells Fargo/etc. Make sure you use online banks (or some credit unions) which offer much higher interest rates. Bannkrate.com does a good job of showing who's currently got the best rates. Just for example Chase banks and Bank of America (the worlds two largest banks)savings accounts have an annual interest rate of .01%. Ally Bank has an annual interest rate of 4%. One is keeping up with inflation and one isn't even close..ie you're losing money in it! INSANITY
This! I can only hope that everybody here in my country will soon be digitally literate that they will finally eschew keeping savings account in brick-and-mortar banks and shift to digital banks. Savings in traditional banks earn interests that are much lower than the inflation rate. In other words, you're saving money to die, slowly but surely. In this digital age, traditional banking is biting the dust. Popular GCash here in my country offers 2.6% annual interest. PayMaya, on the other hand, offers a base interest of 3.5%. There are others. They all offer much higher interest rates per annum. Fintech is fast developing. It's about time we ditch these old banking style.
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yhiaali3
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August 04, 2023, 02:59:30 AM |
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2. Unwanted and unstable government policy: the government policy most times are unfriendly and it is repeatedly done, just for example allowing the importation of already existing good to there country, instead of boosting the production of such goods to meet it's citizens consumption.
Yes, I can give an example of this from my country. We had local sugar production here through the cultivation of sugar beets, but due to the government's stupid policy and corruption, one of the merchants was allowed to import sugar at high prices, which caused the elimination of local sugar production. Instead of the government encouraging and supporting farmers to continue growing beets to support the production of local sugar at cheap prices, it allowed merchants to import sugar from abroad, which caused the elimination of beet cultivation as well as local sugar production.
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Negotiation
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August 04, 2023, 03:21:14 AM |
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This devaluation of money is one of the main causes of inflation. The government has had to increase the prices of gas, oil and electricity at various times due to the increase in prices in the international market. This has resulted in increased cost of production and inflation within the country. A number of products are exported at a large rate despite not being enough to meet the domestic demand of the country. There is a shortage of goods within the country and the price of these goods increases. Market regulation is also needed to prevent inflation. Since this is a private sector matter, the task is not easy For this, the government should use its tools and increase monitoring.
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awik p
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August 04, 2023, 04:43:37 AM |
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This devaluation of money is one of the main causes of inflation. The government has had to increase the prices of gas, oil and electricity at various times due to the increase in prices in the international market. This has resulted in increased cost of production and inflation within the country. A number of products are exported at a large rate despite not being enough to meet the domestic demand of the country. There is a shortage of goods within the country and the price of these goods increases. Market regulation is also needed to prevent inflation. Since this is a private sector matter, the task is not easy For this, the government should use its tools and increase monitoring.
an increase in that sector does affect other increases, and inflation cannot be avoided anymore, because basic materials such as oil for example, of course, will increase production costs in which their distribution will also increase. and in the end it is the people who feel the impact, therefore government supervision is very important considering that inflation seems unavoidable but at least the government can control it so that people do not suffer too much
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