If I can't save for retirement, I might as well have a nice bike and a nice gaming PC.
this post was submitted on 20 May 2024
29 points (85.4% liked)
United States | News & Politics
7181 readers
504 users here now
founded 4 years ago
MODERATORS
yolofication of a society
A high inflation regime promotes taking on debt as inflation makes it cheaper to pay off. That debt will get spent. If hyperinflation is threatened, buying inflation hedges is the "smart" move - real estate, gold, foreign assets. This similarly applies to simply not holding on to savings, as inflation devalues all money that you save at a faster rate than durable goods.
This is, literally, basic economics. And none of it is mentioned in the article.
not really that simple tbh. stock market is having insane performances despite high inflation and the USD relative to other major currencies have also been gaining, not losing despite the high inflation because it's not the currency getting weaker it's stupid trade war shit and price gouging
Inflation is just rising costs. It includes price gauging and having to pay tariffs.
If I were in the average millennials’ or gen-zs’ shoes, I might be spending it on drugs.
OD stats would suggest you're not alone in this idea
Retail therapy
I don't have any savings but i do have a nice VR headset
I have no dreams of buying a house (or even apartment) anymore, just rent4life baby
Unless you move to a lower cost of living area.
Literally me.