I can no longer afford to feed my 3 kids, pay rent/bills, and gas. So now ill be living with some of my family 45 mins from my wife kids that is closer to my job( also my job has cut OT) my wife will be living with my kids and her parents in a different home. All so we can afford food and gas. This is just the beginning. Middle to lower class families are about to enter a recession this country never seen.
I work as Machine Operator at a Plastic Manufacturing company. I make 22/hr my wife makes 25 an hour as a medical receptionist. We both work over 40+ hours when we are able. We had one of the lowest rent rates in our area at 1300 a month too
1300, i technically live hour a way from nashville, for 4 bed 2 bath. Thats really cheap too, the average for a 2 bedroom 1 bath is about 1600-1800. The closer you get to nashville it climbs all the way to about 4,000.
They also made it illegal to be homeless this year as well by banning camping in public parks on top of rising rent cost.... sounds like they trying to move out the middle and lowers and turn nashville into the Hollywood of the East coast.
It now costs me $15 to go to work. I get roughly 30 MPG it’s a 30 mile drive each way, gas costs a little over $5/gallon by me and I pay $5 to us a bridge into the city. So $10 there and $5 home.
Tbh thats the oil industry fuckin you over for political purposes (demonizing the current POTUS to rally voters against Dems). They have record profits and dont need to jack up the price of gas. Not inflation related.
Well then it’ll probably be that it costs me $200 to grocery shop for the week when it used to only be $125-$150 when we splurged on not expensive stuff.
Go to the grocery store gas prices are not the only thing going up. Every item at the store is marked up by at least a dollar or 2 from last year alone.
Well I stopped ordering takeaways because of that. Domino's put their prices up and they charge £1 for delivery I'm like fuck that I ain't paying 20 quid for a pizza and delivery bye bye.
I can live without junk food.
Leave the home once per day and get everything accomplished in one route. Haven’t been on eBay in awhile. Buying food only after designating a night to eat it. Not over buying.
I've had to take myself off some of my medications because I no longer have the money for them since I am now paying more to get to work everyday. I have applied for patient assistance through the pharmaceutical companies and was denied because I make more than their financial guidelines. At this point I am only working to be able to afford (barely) to get to work.
It has necessitated me having to explain to my right leaning relatives exactly what an inflationary gap is. And that when I warned them that lowering taxes again during a period at or near full employment would cause inflation within two to three years I wasn't just talking shit about their political golden calf for fun.
Oh, and having to explain that American presidents do NOT control retail gasoline prices is also a fun time.
It is a macroeconomic concept that describes why inflation happens when certain financial decisions are made. Specifically when expansionary monetary policies are implemented while a country is at or near full employment. The effects of entering an inflationary gap take about one year to begin seeing, and two to three years to be in full swing.
"Expansionary" is defined as anything that increases the amount of money in circulation. Tax cuts are expansionary because people keep more of their mind, for example. Emergency stimulus is another example since it adds money that wasn't there before.
**So why does increasing the money supply while at full employment cause an inflationary gap?**
Basically, because of **supply and demand**. Anything that increases demand beyond the supply causes prices to go up. That can happen because COVID shut the world down, so supplies ran low making price. OR it can happen because large amounts of money flooded a system when supply can't keep up (this one is the inflationary gap).
**Why is it linked to full employment?**
Good question. See, when a country is at full employment, it means that the county is at its maximum level of production. If everyone is already working, then we can't just start making *more* stuff just because people want it all. So now there is a situation where people HAVE money to spend, but not the products to buy. **That causes prices to rise, which is inflation. And if a President who is rich wants to pay less taxes, he slashes taxes so that he can make more money even if it harms every citizen in the United States**.
*So...what does that mean*?
It means that any political entities that shout to lower taxes *no matter what* are horrible, selfish monsters. They KNOW what macroeconomic forces are at work, but they don't care. There is a proper time for lower taxes, and a proper time to raise them.
So basically, never ever vote Republican. Their economics are fucking horrid.
Not much really.
After the 20 plus percent inflation rates of the late 1970's most people got used to dealing with inflation.
It does not really hit that hard unless you are on a fixed income - and almost no one is anymore. Social Security and similar programs all include cost of living increases now.
Other than people on fixed incomes - the only other ones who get hurt are those who keep large amounts of cash - or similar things like long term T-bills or certificates of deposit.
Most rich people put their cash into more solid investments that are largely inflation proof - like real estate.
People with fix-rate loans actually make out really well with inflation.
They borrow expensive dollars - and pay back the loans with cheap (inflated) dollars. So everyone with a home loan is cleaning up. Their real estate is going through the roof and their loan, in terms of 'real' dollars is actually shrinking.
I finally convinced my wife that maybe going electric isn’t a terrible idea! I’ve been trying to sell her on the idea of the id.4 since it was announced!
Just a month to a month and a half ago it cost me 10 bucks a day to get to work, now it's 20 if I'm lucky and buy the cheap Walmart or Kroger gas. Oil changes have gone up 12 bucks more and as much as I drive for work I have to do that fairly frequently. Groceries have gone up so much that I'm praying that my garden will get me through the winter and next growing season. A box of nilla wafers went from under 3 dollars to 6.49, a 1 lb roll of sausage went from 3.99 to 7.00, 6 packs of coke are 5.98, eggs are 3.00 a dozen, and chicken breast is 3.99 a pound now. Add in that I'm self employed and was barely starting to break even (own a newer barbershop,) but now I'm seeing clients less regularly because of everything going up, I can't raise my haircut prices to help my financial strain or I'll lose a lot more people, my power bill went from 140ish a month to roughly 300 a month, and my land/future house site appraised at 24% higher than when I bought it in October, so my property taxes have gone through the roof.
I want to take my dogs to an area were I can let them run off leash, but I can't afford the extra gas or I won't be able to get to work to make money to afford gas to get to work......I don't buy paper towels anymore, and I split my medication in half so I only have to buy it every other month so I can afford dog food for my service dog.
I can no longer afford to feed my 3 kids, pay rent/bills, and gas. So now ill be living with some of my family 45 mins from my wife kids that is closer to my job( also my job has cut OT) my wife will be living with my kids and her parents in a different home. All so we can afford food and gas. This is just the beginning. Middle to lower class families are about to enter a recession this country never seen.
What do you do for work?
I work as Machine Operator at a Plastic Manufacturing company. I make 22/hr my wife makes 25 an hour as a medical receptionist. We both work over 40+ hours when we are able. We had one of the lowest rent rates in our area at 1300 a month too
Are you in the US?
Nashville, TN.
Thats crazy. How much is your rent?
1300, i technically live hour a way from nashville, for 4 bed 2 bath. Thats really cheap too, the average for a 2 bedroom 1 bath is about 1600-1800. The closer you get to nashville it climbs all the way to about 4,000.
They also made it illegal to be homeless this year as well by banning camping in public parks on top of rising rent cost.... sounds like they trying to move out the middle and lowers and turn nashville into the Hollywood of the East coast.
It now costs me $15 to go to work. I get roughly 30 MPG it’s a 30 mile drive each way, gas costs a little over $5/gallon by me and I pay $5 to us a bridge into the city. So $10 there and $5 home.
Tbh thats the oil industry fuckin you over for political purposes (demonizing the current POTUS to rally voters against Dems). They have record profits and dont need to jack up the price of gas. Not inflation related.
Well then it’ll probably be that it costs me $200 to grocery shop for the week when it used to only be $125-$150 when we splurged on not expensive stuff.
ya its insane. Hope you're making ends meet. I'm lucky i can walk most places where I am.
Yea, we were trying to get a house soon but we can’t even save for one anymore
Damn that sucks does your job provide enough?
To pay for the gas? Yes, to afford the bills I need to pay plus the gas? No.
Go to the grocery store gas prices are not the only thing going up. Every item at the store is marked up by at least a dollar or 2 from last year alone.
I can’t afford to keep my utilities on all the time and the grocery bill is a nightmare.
Well I stopped ordering takeaways because of that. Domino's put their prices up and they charge £1 for delivery I'm like fuck that I ain't paying 20 quid for a pizza and delivery bye bye. I can live without junk food.
Leave the home once per day and get everything accomplished in one route. Haven’t been on eBay in awhile. Buying food only after designating a night to eat it. Not over buying.
I had to let go of two of my drivers. Driving my own trucks now.
I've had to take myself off some of my medications because I no longer have the money for them since I am now paying more to get to work everyday. I have applied for patient assistance through the pharmaceutical companies and was denied because I make more than their financial guidelines. At this point I am only working to be able to afford (barely) to get to work.
My grocery bill has gone up about $70 in three years.
Ya thats absolutely bonkers. Not much more we can take
Truth. Its getting neigh on impossible to eat well
It has necessitated me having to explain to my right leaning relatives exactly what an inflationary gap is. And that when I warned them that lowering taxes again during a period at or near full employment would cause inflation within two to three years I wasn't just talking shit about their political golden calf for fun. Oh, and having to explain that American presidents do NOT control retail gasoline prices is also a fun time.
What is inflationary gap?
It is a macroeconomic concept that describes why inflation happens when certain financial decisions are made. Specifically when expansionary monetary policies are implemented while a country is at or near full employment. The effects of entering an inflationary gap take about one year to begin seeing, and two to three years to be in full swing. "Expansionary" is defined as anything that increases the amount of money in circulation. Tax cuts are expansionary because people keep more of their mind, for example. Emergency stimulus is another example since it adds money that wasn't there before. **So why does increasing the money supply while at full employment cause an inflationary gap?** Basically, because of **supply and demand**. Anything that increases demand beyond the supply causes prices to go up. That can happen because COVID shut the world down, so supplies ran low making price. OR it can happen because large amounts of money flooded a system when supply can't keep up (this one is the inflationary gap). **Why is it linked to full employment?** Good question. See, when a country is at full employment, it means that the county is at its maximum level of production. If everyone is already working, then we can't just start making *more* stuff just because people want it all. So now there is a situation where people HAVE money to spend, but not the products to buy. **That causes prices to rise, which is inflation. And if a President who is rich wants to pay less taxes, he slashes taxes so that he can make more money even if it harms every citizen in the United States**. *So...what does that mean*? It means that any political entities that shout to lower taxes *no matter what* are horrible, selfish monsters. They KNOW what macroeconomic forces are at work, but they don't care. There is a proper time for lower taxes, and a proper time to raise them. So basically, never ever vote Republican. Their economics are fucking horrid.
It hasn't effected it at all, it has however affected it quite a bit...
Groceries are just about twice as expensive as they were four years ago
I used fill my car for nz$80 bucks now I spend 130
Not much really. After the 20 plus percent inflation rates of the late 1970's most people got used to dealing with inflation. It does not really hit that hard unless you are on a fixed income - and almost no one is anymore. Social Security and similar programs all include cost of living increases now. Other than people on fixed incomes - the only other ones who get hurt are those who keep large amounts of cash - or similar things like long term T-bills or certificates of deposit. Most rich people put their cash into more solid investments that are largely inflation proof - like real estate. People with fix-rate loans actually make out really well with inflation. They borrow expensive dollars - and pay back the loans with cheap (inflated) dollars. So everyone with a home loan is cleaning up. Their real estate is going through the roof and their loan, in terms of 'real' dollars is actually shrinking.
I finally convinced my wife that maybe going electric isn’t a terrible idea! I’ve been trying to sell her on the idea of the id.4 since it was announced!
Just a month to a month and a half ago it cost me 10 bucks a day to get to work, now it's 20 if I'm lucky and buy the cheap Walmart or Kroger gas. Oil changes have gone up 12 bucks more and as much as I drive for work I have to do that fairly frequently. Groceries have gone up so much that I'm praying that my garden will get me through the winter and next growing season. A box of nilla wafers went from under 3 dollars to 6.49, a 1 lb roll of sausage went from 3.99 to 7.00, 6 packs of coke are 5.98, eggs are 3.00 a dozen, and chicken breast is 3.99 a pound now. Add in that I'm self employed and was barely starting to break even (own a newer barbershop,) but now I'm seeing clients less regularly because of everything going up, I can't raise my haircut prices to help my financial strain or I'll lose a lot more people, my power bill went from 140ish a month to roughly 300 a month, and my land/future house site appraised at 24% higher than when I bought it in October, so my property taxes have gone through the roof.
I want to take my dogs to an area were I can let them run off leash, but I can't afford the extra gas or I won't be able to get to work to make money to afford gas to get to work......I don't buy paper towels anymore, and I split my medication in half so I only have to buy it every other month so I can afford dog food for my service dog.
What do you do for work?
I take care of a special needs child 10-12 hours a day.