- cross-posted to:
- usa@lemmy.ml
- economics@lemmy.world
- news@lemmy.world
- cross-posted to:
- usa@lemmy.ml
- economics@lemmy.world
- news@lemmy.world
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Isn’t the American dream intended to feed the capitalists in charge? This would fit right in with the plan.
It’s called the American Dream because you have to be asleep to believe it
Anyone who still believes in, never mind promotes the lie that is (and always has been) the “American dream” should be categorically ignored, if not publicly chastised.
Or there is a more reasonable explanation that low income people by default have to spend all of their money survive and maybe then some more.
especially when things like food are the things going up. Just noticed this weekend that four things of tortillas was the same price as pair of frying pans.
What dream? This place has been nothing but one crisis to the next since I fucken became cognizant.
Paywall removed https://archive.is/IyuC2
Stagflation is the name and losing purchasing power is the game.
Replacing rapidly depreciating cash with something tangible might not be the worst idea. But, wasting money on stupid stuff you can’t resell won’t do anybody any good.
American dream has always been nothing more than a scam.
Don’t spend. That is what they want. Spending is just transferring the money into the pockets of the greedy.
A lot of younger people are maxing out credit cards and Buy Now Pay Later money lenders and then not paying it back.
Yeah but that only works for about a month. Then they are toast.
No no. You max everything out then go bankrupt. Like the big companies do.
Nah. I, for one, actually have a running list of things I’m refraining from buying because I’m saving up for a ten thousand dollar thing that I urgently need.
Use it or lose it.
What’s the point of saving when real inflation rate* is higher than the interest banks apply to saving accounts? Or even average investment account interest rates? Saving now only makes sense in short term, for things you know you’re going to need and can save up for in less than a year—home appliances, phones, laptops, small home improvements etc—and even then leasing or credit card may make more sense if prices continue to rise.
And that is assuming you have money left over after paying for necessities in the first place… It’s not as if you can pay for eg renovation of your bathroom after a year of being able to set aside just 30 or 50€, even if you don’t have an emergency expense taking you back to square 1.
*This essay is from 2021 but things haven’t got better since:
https://evonomics.com/the-truth-about-inflation-why-milton-friedman-was-wrong-again/ironic given the idea behind increased interest rates is to encourage saving.
Not really. It’s to give an incentive to keep using the currency. Without this a lot of people would short the US dollar
way I always heard it is to fight inflation they increase interest which is supposed to encourage people to save the money rather than spend it thus lowering inflationary pressures in addition to interest capturing dollars that become unavailable for purchasing.
