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Still waiting to see if we have any real wage inflation.
Yeah, that really helps those retired folks.
9.1 percent , that's almost as big as my dic size. :) I had gold - gld got rod of it. Even with all this inflation it wasn't going up. My guess is people used extra tmoney to buy bitcorn n most lost lot of it now that bitcorn is down.
Retired folks on fixed income are getting screwed. Savings and CDs don’t pay 💩.
I’m retired and I have never expected a CD to pay shit. Banks lend money and make money, they don’t pay money. There are plenty of things you can do if you had the foresight to buy mutual funds for retirement.
Banks lend money and make money, they don’t pay money
I am thinking about buying a used truck and I saw a bunch of stuff about the recent things happening in the car business.
Banks pay savers, let’s say 1% for savings/CD’s, while lend it out at 5% and make 4%
Banks pay savers, let’s say 1% for savings/CD’s, while lend it out at 5% and make 4%That is what the banks sneeringly call "retail money," and that is a very paltry part of their profits.
Buy really good trucks. If inflation takes off, housing prices crash and or banks go broke, you'll still have your TRUCKS!
This go around people that buy gold are spending on getting out of large cities, food, and bullets.