The media is trying to tell us inflation has tampered down. I'm not so sure about that. Perhaps inflation for 2023 was 3.7%, but that's on top of the 10% of 2022. In reality, we are facing inflation of 15% on everything from a couple years ago. How many of you got a 15% raise just to keep up?
I don't see many raised hands.
I feel like the piranhas are biting at us one little chunk at a time with the price increases here and there ranging from: groceries, utilities, gas, health insurance, homeowners insurance, auto insurance, etc. It's a feeding frenzy and we are the bait for these nasty fishes. Inflation will gnaw at us middle class bit by bit until there is nothing left but a pool of red water.
I think there is a silent depression going on economically. I personally know of many who have been laid off. I think there are more layoffs than what people realize.
When inflation first hit people used credit cards to stretch their budgets. The problem is that interest rates have skyrocketed and unless you pay off your credit cards monthly people are digging themselves into a financial grave.
Then....all the government COVID subsidies/credits timed out along with the reprieve for student loan repayments. The elimination of COVID subsidies/credits along with people now needing to resume payments on their debt has put even more people wondering how they are going to survive financially.
It's all come home to roost.
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