Inflation is a problem for billions of people around the world. You might be surprised to find some fools out there today who actually consider inflation to be a good thing, when it means a deterioration in the standard of living for many around the world. It is the number one issue today that many people around the world are worried about, they want to know when it is going to get better and the cost of living is a huge voting issue and problem that many say they are struggling with.
In areas like Argentina they are seeing over 100% inflation, this can be devastating for businesses and families, individuals from a variety of backgrounds, as they struggle to navigate the situation.
In some parts of the world it isn't anything new for people and they've long been trying to do what they can to avoid it, such as turning their currencies into stronger ones as soon as they get their hands on them. Some of the tactics people have used to deal with these pressure filled situations have been:
Inflation has been suggested by some reports to have been hitting the middle and low income classes especially hard, that isn't any surprise. Some say it has been starving the middle class though it certainly doesn't discriminate. It can and has already had devastating impacts on countries around the world.
Meanwhile, some political representatives want to try and paint the picture that it is some generations alone that just aren't used to experiencing it and they should in some way get used to it rather than complain.
But then again you might ask why is there inflation?
Are economic policies contributing to it in any way?
Who is making those decisions for economic policies if they are worsening inflation?
Why don't the people have a say on those policies if they are causing harm for millions of people, or do they have a say?
We see an effort by politicians to fight inflation but are they doing a good job of it?
They arguably haven't offered much optimism on that front.
Americans overwhelmingly agree that this is the top issue facing the country today and obviously some countries are doing much worse with it than others. Those who live in regions that don't have over 100% inflation for example are probably thankful that they are in a better situation, for now at least. Surprisingly there is still plenty of disagreement about what causes inflation and what brought things to this stage as we see it now for many nations around the world on their fiat currency journey. How is it going to end?
Pics:
pixabay
This is not to be taken as financial advice, this has been posted for information purposes only.
Sources:
https://www.theguardian.com/world/2023/may/22/argentina-2000-peso-banknote-depreciation-inflation
https://www.pewresearch.org/short-reads/2022/05/12/by-a-wide-margin-americans-view-inflation-as-the-top-problem-facing-the-country-today/
https://www.npr.org/2023/03/07/1161623217/federal-reserve-jerome-powell-senate-inflation-interest-rates-economy-recession
https://www.bbc.com/news/world-latin-america-65524072
