tasman1 wrote: 5 years in making
Govt , no inflation=no pay increase , no pension increase
Business , hyper inflation = hyper price increase = today my home insurance gone ONLY 20% up
tasman 1 = where I can buy guilotine on credit card, it is time
This is why you need to be super wealthy by the time you retire or you are cooked. There is going to be no more middle class, it is fading quickly but surely ! Imagine a scenario where you have people 30 years away from retirement or more, what will be the power of spending of their money ? Does income follow inflation ? f*** no ! Governments, CEOs, and company leaders give themselves hefty raises and bonuses thousands of times higher than inflation so they don't care, but the end user and consumer who sweats for their bloody income, they get nothing - cost of living goes up the bloody roof, cost of utilities, taxes, maintenance, food, clothes, etc, and even the tiny raises people get does not account for a fraction of inflation over the years. So it is a joke when I hear people say that they have $200k stashed in their 401k, how much power will that money have in 40 years, you'll need MILLIONS of $ for a semi decent retirement.
As far as government and business leader, they can do scandals, corruption, get sacked, including government leaders as well, and still enjoy a hefty pension for the rest of their life no problem for them, when you have a hgh 6 figure PENSION per year for life, no issues (assuming you do not go broke from a lavish lifestyle above your means) because some wealthy also misuse their money and go broke, but that's a different story, it is due to greed !
In this country, pension is index to inflation, but that hardly makes any bloody difference, will a $6 increase per month for most people solve anything ? NO.
I am a few decades away from so called retirement, but I am not planning to retire, the word retirement is morbid it's as if you have one foot in the coffin already - so I plan to work until they carry my body or until I cannot anymore.
OR until I somehow manage to win a few millions of $