Situations suck
- Thread starter htsumer
- Start date
Here in the USA,
Everything certainly costs a lot more. Some staples like Eggs and Milk are up 3-fold (300%).
our grocery bill went from 80 to 275 over the past year for the same average product load.
housing is up
gas/fuel prices are the highest i've seen
interest rates are starting to creep up too.
but, so are wages and the minimum wage. My wife and i both got raises and the best bonus of our careers this year.
i'm not driving/commuting to an office any more either now thanks to covid.
renters are in trouble because every year, you pay more for your new lease renewal. owners in a fixed rate, aren't effected.
folks who saved cash earning nothing % and not investments that move with inflation are in trouble. even in rising interest rate economy, your cash is worth less every year.
Ultimately, the stock market drop has had more of a paper hurt to me than anything going on with pricing.
If your job/income isn't keeping up, move to something that does keep up to stay competitive.
Everything certainly costs a lot more. Some staples like Eggs and Milk are up 3-fold (300%).
our grocery bill went from 80 to 275 over the past year for the same average product load.
housing is up
gas/fuel prices are the highest i've seen
interest rates are starting to creep up too.
but, so are wages and the minimum wage. My wife and i both got raises and the best bonus of our careers this year.
i'm not driving/commuting to an office any more either now thanks to covid.
renters are in trouble because every year, you pay more for your new lease renewal. owners in a fixed rate, aren't effected.
folks who saved cash earning nothing % and not investments that move with inflation are in trouble. even in rising interest rate economy, your cash is worth less every year.
Ultimately, the stock market drop has had more of a paper hurt to me than anything going on with pricing.
If your job/income isn't keeping up, move to something that does keep up to stay competitive.
Mendalla
Well-known member
It's rough in Canada and people on fixed or low incomes are hurting. But we are not the worst in the world, though, from what I am hearing. Certainly I am seeing it as my groceries, gas, and other costs rise, but I am also in a well-paying job with lots of savings and a house that I own outright (no mortgage) so hardly a disaster. Our housing market is still going insane with historical high prices and that's impacting the rental market as well, which is where most of those with lower incomes are (as well as kids who are starting out like my son and his partner). We are definitely hearing more and more calls for action like raising minimum wages and trying to get some control over things like fuel and housing but there's likely only so much government can do given how many of the drivers are international in scope (e.g. the war in Ukraine, sanctions on China and Russia, etc.)
Footnote: Interest rates are on the rise here which might help cool the housing market, but may not help or even do harm in other areas.
Footnote: Interest rates are on the rise here which might help cool the housing market, but may not help or even do harm in other areas.
I follow what's happening in Turkey due to my family connections so I sympathise.
The USD and GBP rates are crazy high.
When I lived in Istanbul the exchange rate was about 2.3, now it's over 20.
Inflation and the cost of living is rising here also but nowhere near as bad as there.
That's a lot easier said than done in Turkey.
Demand for jobs way outstrips supply, so there's always someone willing to work for less.
It is mainly the price of wheat products that have undergone some price increase here in West Africa. More specifically in Senegal, the president asked manufacturers to support this increase and therefore the price of bread, for example, has not yet increased for consumers. But I guess if the tougher crisis will be the downfall, African countries do not have the means and financial mechanisms to control inflation or deal with other economic problems. The Arab springs started with the notable increase in the price of bread... I fear the worst here if that were to happen. Thank you Vladimir.
