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Author Topic: What are the best way to tackle against inflation  (Read 1539 times)
Jubilee58
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Today at 12:10:51 PM
Merited by Conqueror777 (1)
 #141

Like I always say every bad leadership will make policies that will be more favourable to them instead of the general public. It is true because they are being sustained from the government fund, and does not feel the pains of inflation. Nevertheless, in most cases what causes inflation is bad governmental policies, and if any government really want to reduce or avoid inflation they have obligations to fulfill to ease high cost of living, and hardship.
One of the ways government can can reduce inflation in a country is by subsidizing certain products. For instance, cost of transportation is one major thing that can cause inflation, if petroleum products are subsidized, transportation will be low, and products are likely to reduce in price. Another thing that can also cause inflation is tight borders, if borders are closed, and products from other countries are not easily coming in, it leads to scarcity, and the available products becomes high in price, but when goods are allowed to coming freely inflation can properly be controlled that way too.

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Today at 02:01:45 PM
 #142

What are the measures to deploy for the government to know that Civil servants salary should be added in respects to inflation rate to enable them meet up with the ways things are going currently.
If there's inflation in a country the government of the country will know about it and they will also know that the salaries of civil servants can't sustain them because of high cost of living, what is sold for $2 before could be sold for $6 due to inflation. If the government refused to increase the salaries of servants in order to correlate will the inflation then the labor union congress should dialogue with the government and give them reasons why they should increase the salaries of civil servants. If the government refused again to increase the salaries of civil servants after meeting with the labor union congress, the labor union congress should threating the government with an indefinite strike, this will force the government to increase the salaries of civil servants, because a country won't function well if labor union congress is on strike.

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Today at 04:24:54 PM
 #143

What are the measures to deploy for the government to know that Civil servants salary should be added in respects to inflation rate to enable them meet up with the ways things are going currently.
If there's inflation in a country the government of the country will know about it and they will also know that the salaries of civil servants can't sustain them because of high cost of living, what is sold for $2 before could be sold for $6 due to inflation. If the government refused to increase the salaries of servants in order to correlate will the inflation then the labor union congress should dialogue with the government and give them reasons why they should increase the salaries of civil servants. If the government refused again to increase the salaries of civil servants after meeting with the labor union congress, the labor union congress should threating the government with an indefinite strike, this will force the government to increase the salaries of civil servants, because a country won't function well if labor union congress is on strike.
In Nigeria the labor union congress has severally try this strategy to see if the government will increase the salary of civil servants when inflation is high but it doesn't work even if they increase it they will only add it little that it won't still cover up the cost of things, although this method might work in other countries where there is less corruption, what Nigeria government do most time is to bribe the head of the union and everything will be left unsettled.

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Today at 05:01:32 PM
 #144

Your only way is to side hustle because what else you can do? it seems your government don't want to hear you nor anyone so might as well side hustle and stack those dollars and even bitcoin.
Any savings should be converted to deflationary asset otherwise you're risking your lifesaving to be eaten up by inflation. It's tough situation to be in but to wait for a solution isn't the way.
Frankly, that kind of thing doesn't only happen in your country. The salary increase have been falling behind for quite a while compared to inflation.

You're right, the other way to tackle inflation is having another source of income so you just don't depend on your salary or that one business that sustains you and you're family, I also think that buying food in bulk especially when they're in season is very important there are non perishables like rice,veg oil and things like that you can get them and store while the price is still affordable. And lastly buy what you can afford so you don't end up staying in debts, spend money on things that are needed.

Conqueror777
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Today at 05:26:49 PM
 #145

This is no longer new anymore because there are some countries which inflation has eaten up and from the salary allocation it seems that the salary is no longer sustaining the family but we found out that government do not care to know how people are managing, or even if they have been able to sustain with such salaries?
Yes, know that things are increasing but Civil servant salaries are not being added instead politicians keeps increasing their allocation, which also includes wall drop allowance and many more and yet they are comfortable and they allows people suffer for not reason. What are the measures to deploy for the government to know that Civil servants salary should be added in respects to inflation rate to enable them meet up with the ways things are going currently.

What do you think?

IMO the best way to tackle inflation is to buy physical gold. What is more, the politician and corruption problem is world wide; in some areas it is "viewed" more often and those who have politician friends tend to eat with them from the same pie that should have gone to the people these politicians serve.
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Today at 08:24:07 PM
 #146

Your only way is to side hustle because what else you can do? it seems your government don't want to hear you nor anyone so might as well side hustle and stack those dollars and even bitcoin.
Any savings should be converted to deflationary asset otherwise you're risking your lifesaving to be eaten up by inflation. It's tough situation to be in but to wait for a solution isn't the way.
Frankly, that kind of thing doesn't only happen in your country. The salary increase have been falling behind for quite a while compared to inflation.

You're right, the other way to tackle inflation is having another source of income so you just don't depend on your salary or that one business that sustains you and you're family, I also think that buying food in bulk especially when they're in season is very important there are non perishables like rice,veg oil and things like that you can get them and store while the price is still affordable. And lastly buy what you can afford so you don't end up staying in debts, spend money on things that are needed.

Multiple sources of income at times only provide an avenue through which one can outsmart inflation but cannot provide a permanent solution to it.
The best and easiest way of finding solution to any problem is by finding the possible causes of the problem and if such is done it can easily be controlled.
It is completely obvious that the possible causes of inflation in most nation is bad governance,  if a nation is lead by corrupt representatives it will be very difficult for inflation to be controlled.  Therefore the best way is having a set of leaders with vision and dreams of effecting positive changes in the country.

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Today at 10:16:30 PM
 #147

This is no longer new anymore because there are some countries which inflation has eaten up and from the salary allocation it seems that the salary is no longer sustaining the family but we found out that government do not care to know how people are managing, or even if they have been able to sustain with such salaries?
Yes, know that things are increasing but Civil servant salaries are not being added instead politicians keeps increasing their allocation, which also includes wall drop allowance and many more and yet they are comfortable and they allows people suffer for not reason. What are the measures to deploy for the government to know that Civil servants salary should be added in respects to inflation rate to enable them meet up with the ways things are going currently.

What do you think?

Tackling Inflation goes beyond an increment in salaries or reconsiderations of salaries of civil servants, if the salaries of civil servants are been increased at everytime we experience Inflation,  that will be encouraging Inflation rather than Tackling it. If the economy is stable and the cost of living is such that even the poor does not see it as burdensome, then there will be almost no need for the continues increment in pay, rather that which has been allocated as their pay will become exactly or even morethan enough for them to be able to carter for their daily and basic needs till their next payment.

So here’s my point,  the government should improve on economic policies that encourages healthy competition amongst goods and services providers in the country, one thing that encourages Inflation the most is monopoly,  at that time those who has the monopoly of goods or services,  gets to determine the price the way they want,  and at any profit margin they wish, but if the government set up economic policies that are both regulatory and encourages healthy competition,  you will see the economy growing and Inflation going down. Furthermore,  policies also encourages foreign investments into the economy  that creates jobs and reduces the pressure on government employment rates,  it will even encourage entrepreneurs to establish better,  in such an economy, Inflation hardly becomes an issue of particular concern because the cost of living is very affordable and purchasing power is strong/high. This is one of the many approaches the government can employ rather than increment in salaries alone.

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