I believe you captured the essence of it on both sides.Maybe the older guys should just tell @mchammer to get off their damned lawn.
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I believe you captured the essence of it on both sides.Maybe the older guys should just tell @mchammer to get off their damned lawn.
Obviously I'm sure they'd rather see inflation coming down than going up, but that doesn't undo or even really reduce the screwjob that was already done to them and still being done to them. Will they eventually let it go and stop complaining about it? I'm sure they will. They're a tough generation, and as you pointed out, they lived through the '70s and largely don't complain about it anymore.
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1970s inflation had to hurt HHD and that age group severely. He would have been just entering his prime earning period of life . With inflation out of control it's hard for a married couple with kids to save or risk capital to invest into a future. You pay for it in the end through no fault of your own
Imo that's how today's middle class is getting bent over right now. Their ability to invest is inhibited. ..25 to 30 yrs from now they're going to ***** louder than my generation, understandably so
Wait...did somebody say "Price Controls"...pushing for price controls
Economists, academics back federal rent control, four months after Florida bans it
Looks like some really smart guys, with lots of degrees and diplomas on the wall, are in favor of rent control.
Well, that settles it. Do the opposite of what those idiots say and everything will get better. The issue is this is what the Biden Administration wants so they can exert control of more of the US population.Economists, academics back federal rent control, four months after Florida bans it
Good point, Horn2RunAgain - and you nailed it. Karen and I were just starting our family - first son born in 1971, second in 1974. I was on active duty until 1975 - and military pay didn't come close to keeping up with inflation then. I resigned my Regular commission and became a Reserve officer when I started at General Dynamics in Fort Worth. GD had an excellent savings plan with a nice company match (I later rolled that into the Lockheed plan when Lockheed bought Fort Worth). I did pretty well in the 401(k).1970s inflation had to hurt HHD and that age group severely. He would have been just entering his prime earning period of life. With inflation out of control it's hard for a married couple with kids to save or risk capital to invest into a future.
The loss of purchasing power is nearly offset by the free money congress sent to folks to compensate for the lockdowns. Families who made less than $140k got big checks. I made too much money to get paid the big bucks in rounds 2 and 3 even though I had 4 kids under 18 at the time.The proper response to that chart is "not good enough" and "banking industrial complex are thieves".
That money went out the door as soon as it was received and it wasn't "big checks".The loss of purchasing power is nearly offset by the free money congress sent to folks to compensate for the lockdowns. Families who made less than $140k got big checks. I made too much money to get paid the big bucks in rounds 2 and 3 even though I had 4 kids under 18 at the time.
Some families got $8-10k - go find the online calculators and do it yourself.That money went out the door as soon as it was received and it wasn't "big checks".
Then how did folks were able to survive without working?That money went out the door as soon as it was received and it wasn't "big checks".
Government was paying $2k per kid.That money went out the door as soon as it was received and it wasn't "big checks".
That money went out the door as soon as it was received and it wasn't "big checks".
There were 3 rounds of stimulus - different values and the payouts were tapered differently with income (so you can’t go to one source to get all the info). Those who kept working got a nice bonus.People have to eat and drive to work. The $8K didn't go far, especially after January 2021.
Folks with no children at home or people who made too much money got screwed out of big bucks. The checks for them were small.People have to eat and drive to work. The $8K didn't go far, especially after January 2021.
The loss of purchasing power is nearly offset by the free money congress sent to folks to compensate for the lockdowns. Families who made less than $140k got big checks. I made too much money to get paid the big bucks in rounds 2 and 3 even though I had 4 kids under 18 at the time.
Thursday’s report from the Labor Department on inflation showed that more than 90% of the increase in prices in July came from shelter. Other big contributors were things like motor vehicle insurance.
For round 3, you made too much money to get a net benefit.I actually refused receiving the last round of stimulus checks in 2021 because it was paying you up front for the child tax credit. Also, the child tax credit overall went down in 2022. The IRS has been giving child tax credits to parents my whole life. This wasn't stimulus. Like what happened in 2020.
Once again, the lower and lower middle classes have seen the highest wage gains and lower class is actually making more money in real dollars.Americans' credit card debt hits a record $1 trillion | CNN Business
Again, the damage has been done. Recovery for people less fortunate than us is doubtful at best. They're screwed. Period. If someone is in debt because of spending habits, it's on them. No pity from me. But my guess is inflation hit the middle and lower middle hard enough to cause this.