Is Inflation Necessary

[Abiky]

Nice comment Abiky, this need merit but I'm out of it. My country's debt profile is reading billions of dollars and now the government is doing all the they can do to pay it off so taxation is very high, and since the tax they are collecting from the manufacturers and duty tax at the boarders increase the prices of goods and services so the customers are the final bearers of the taxation.

Yes I agree with you, inflation is an agreed plan from both the government and the elites. Inflation started late last year in my country, and became on the peak in this year then the president of the country formed economic team to reduce inflation and appointed the richest man in Africa as the leader of the team and other economic elites, guys inflation is increasing the more. The poor are crying and the rich is laughing. And because of that the poor can't afford good food to eat again so cholera pandemic breakout in the country and killing people everyday. Yesterday, Lagos state in Nigeria recorded 21 dead.

It's sad to see how inequality keeps rising around the world. High inflation worsens the situation. At some point, I think inflation rates will decline to a considerable level. But the damage has already been done. Especially when the prices of goods and/or services will remain the same.

Reducing inflation does NOT mean reducing the price of these things. It's just a means to stop or slow down the rate at which market prices increase. If wages increased at the same rate as inflation, we wouldn't be in this mess right now. We should blame greedy employers (companies, business owners) for this. They want to charge more (profit), but pay less. Bitcoin promises to "fix the world". I'm yet to see when that will happen. The future is unpredictable, so we can only hope for the best.

[Mate2237]

Nice comment Abiky, this need merit but I'm out of it. My country's debt profile is reading billions of dollars and now the government is doing all the they can do to pay it off so taxation is very high, and since the tax they are collecting from the manufacturers and duty tax at the boarders increase the prices of goods and services so the customers are the final bearers of the taxation.

Yes I agree with you, inflation is an agreed plan from both the government and the elites. Inflation started late last year in my country, and became on the peak in this year then the president of the country formed economic team to reduce inflation and appointed the richest man in Africa as the leader of the team and other economic elites, guys inflation is increasing the more. The poor are crying and the rich is laughing. And because of that the poor can't afford good food to eat again so cholera pandemic breakout in the country and killing people everyday. Yesterday, Lagos state in Nigeria recorded 21 dead.

It's sad to see how inequality keeps rising around the world. High inflation worsens the situation. At some point, I think inflation rates will decline to a considerable level. But the damage has already been done. Especially when the prices of goods and/or services will remain the same.

Reducing inflation does NOT mean reducing the price of these things. It's just a means to stop or slow down the rate at which market prices increase. If wages increased at the same rate as inflation, we wouldn't be in this mess right now. We should blame greedy employers (companies, business owners) for this. They want to charge more (profit), but pay less. Bitcoin promises to "fix the world". I'm yet to see when that will happen. The future is unpredictable, so we can only hope for the best.

Abiky from my viewing I don't think the inflation level will reduce in anytime soon because they way things are increasing everyday is alarming. Last month I went to market to buy food stuff and I bought beans bag at the rate of $30 but this last Friday I went to the same market and I price beans bag and the seller told me that it is $70. And normally from my birth till now, rice was the only food item that cost more than any other thing but now many things have cost more than rice.

And from my conclusion this inflation right now is not from the government but within the sellers who are very greedy. They are just using the period to increase their items. And if things would come down again when this current president has been removed from sit because he is the caused of everything because of his economic policies affected the producers and sellers. So that will be 2030 and then.

[Abiky]

Abiky from my viewing I don't think the inflation level will reduce in anytime soon because they way things are increasing everyday is alarming. Last month I went to market to buy food stuff and I bought beans bag at the rate of $30 but this last Friday I went to the same market and I price beans bag and the seller told me that it is $70. And normally from my birth till now, rice was the only food item that cost more than any other thing but now many things have cost more than rice.

And from my conclusion this inflation right now is not from the government but within the sellers who are very greedy. They are just using the period to increase their items. And if things would come down again when this current president has been removed from sit because he is the caused of everything because of his economic policies affected the producers and sellers. So that will be 2030 and then.

Greed is what will "kill us all". Unless mainstream governments step in, companies/businesses/merchants will continue raising their prices to cash in the rewards. Things will only get worse. I sure hope this is a short-term thing. Otherwise, the "Elites" will rule the world for good. Is this part of a plan for a "New World Order"? Only time will tell. We're sailing in "uncharted waters". One thing is certain, and that's high inflation can't last forever. History repeats itself, right?