Billions of people around the world are getting a firsthand lesson on inflation and what that means for the daily cost of living.
When things worsen slowly it might be more difficult to notice.
When there is worrying inflation however that is when people really start to panic and the financial anxiety sets in, as multiple reports and surveys have demonstrated over the last few years with the economic problems the world has faced.
Inflation is much worse for some than others.
If you think inflation isn't a problem though then just ask someone in Venezuela or Turkey how they are handling the inflation in their communities.
What do they think about inflation and their own fiat currency?
How many works of art have they weaved those pieces of paper into by now?
Inflation arguably robs people of value and pushes their standard of living further into decline, worsening food insecurity and poverty for many. This is not anything to be ignored or supported. We have seen the destruction that out of control inflation can cause more than once.
When there is extreme price instability it can become incredibly difficult for businesses to maintain efficiency, they find themselves adjusting their prices every other day. People start to flee their communities and look for something better elsewhere, they want hope that things are getting better and not declining to the point of homelessness and starvation.
Billions are expected to struggle to survive under crippling inflation that has been arguably caused by the defunct monetary policies that the people must repeatedly fall victim to and end up paying for.
Are there any better ideas up ahead?
Pics: pixabay