Economy looks live the 60s-70s: inflation will hit soon!
Location: Eastern Kansas
posted 6 years ago
And I think that it will hit pretty hard. The economy SO looks like it did when I was younger!
A few things that I saw:
1. Avoid an adjustable mortgage like the plague. Interest rates are going to go up, which means the adjustable mortgage will go up. 2. Plant vegetables. $1 earned is worth $1.25 saved because $1 saved is not taxed. Raise food and eat it and spend less on groceries. Groceries will be going up. 3. People on fixed incomes are going to hurt: wages will eventually go up but pensions will not. 4. Learn to cook your grandmothers recipes. Chances are those were depression era recipes. Try them out and remember the ones that you liked. Use them, and salt away any money saved. 5. Taxes will go up. As money becomes inflated and buys less the value of your property will go up, which means your taxes will go up. Possibly way up. Landlords will pass the increased costs onto the tenant so renters will pay more also.
Be frugal, raise and eat your vegetables, and keep your credit clean if you can. Right now you are less likely to get a good job if your credit is not clean, and the interest rate that you pay will go up.
This nation has seen inflation before and it will again: I just wanted to say HERE IT COMES! Probably within 2 years, possibly much sooner.
It runs on an internal combustion engine. This ad does not: