How America is coping with inflation

When I retired, I considered inflation as a potential obstacle and adjusted. I banked the savings then, so I will not be making any big changes now.
I tried to consider inflation, too, in my retirement projections but honestly, didn't think it would hit this hard, this soon in my retirement.
 

I tried to consider inflation, too, in my retirement projections but honestly, didn't think it would hit this hard, this soon in my retirement.
I baked in a prolonged period, such as the 70s and 80s. However, I was fortunate that time has passed since retiring. Fortunately, I don't drive very much, but I am sympathetic to those who must. Gasoline futures have climbed over 30¢ the past week and will soon be coming to a pump nearby.
 
I have swapped lower cost items that won’t change my quality of life. For instance sharing you tube tv with a friend versus cable. Having my dogs groomed every 12 weeks instead of 8, low cost cell phone plan, only eating out once a month versus every week, etc.
You have some good ideas @Teacher Terry. I wish I could groom my dog at home but she's a handful so I have her groomed monthly which includes a bath and having her nails clipped and her fur trimmed around her toes, face and backside. It costs $70 so I've decided to have that done every 8 weeks instead of every 4. There is a local pet shop that has facilities for washing dogs. They provide everything except a brush (and someone to bathe the dog). It costs $7 and is so well worth it. I'll be doing that in the months when I don't take the dog to the groomer.

I have to work on my phone plan. I hadn't thought about that. As for eating out, I do meet friends for lunch about once a month and I never spend more than $20 so I'll keep doing that for now.
 

Same problem over here except that aged pensions are adjusted 6 monthly to compensate for rising Consumer Price Index.
US Social Security is adjusted annually.
Does anyone consider the people on minimum wages when the subject of inflation comes up?
Yes. California minimum wage is $15.00. Effective July 1, Los Angeles's minimum wage will be $15.96. In TWENTY US states the minimum wage is a mere $7.25/hour. In some it would be lower, but they must abide by the US (federally set) minimum wage. Truly shocking.

When DH & I had employees we always paid above minimum wage, even when they were trainees. To pay them less would have spoken greater volumes about who we were than who they were.

Chris Rock's succinct explanation of minimum wage: When someone pays you minimum wage what they're really saying is, "I'd pay you less if I could, but it's against the law."

Or those living on S.S.I. about 840.00 per month or less? That amount has to cover rent/mortgage, utilities, gas, prescription copays, clothing when needed and food. 😥
Becky, unless there are other state or federal benefits, I don't know how people could manage on that, particularly if they live alone.
 
Shop at Krogers, have for years. They have new digital coupons weekly - usually on Friday - and
often have 2x to 4x fuel point ones for those shopping over holiday weekends. We get a coupon booklet in the mail "best customer" book...it has nice discounts on only the products we normally purchase, and a good size "$20 coupon on a single $200 purchase.

So, we shop minimally for 3 weeks and use the big coupon and whatever fuel point upgrades coupons at the same time if we can. The savings really add up. When you get up to $1 off a gallon gas it really does help. Of course the key with coupons is to buy only what you normally buy and not get extras to benefit the most from savings.
 
and with an eye to the future, gas stations are reportedly modifying their pumps to support prices over $10.

...say what??? positively jaw-dropping...
Gasoline was in the 20 cents per gallon range when I first started driving (in NJ). Surely we all remember when stations had to modify their pumps - and their signage - to accommodated prices over a dollar a gallon.

There have been rumblings about $10 gasoline since mid-March because of the war in Ukraine. If those predictions come true, inflation will be like the late 1970s and into the 1980s, if not worse.

I don't even want to think about it.
 
Yes, we must all cut back as we can. Why just yesterday I laid off two manicurist, and a spittoon polisher on my super yacht, and cut monthly cruises back to 10k miles or less. Have even considered cutting back on trips to space, and occupancy levels on the new orbiting hotel. We all have to do what we can.
Sounds rough. Maybe you should start a GoFundMe campaign. 🤣
 

We live paycheck to paycheck. Life has always been a struggle.

We just got a high gas bill when filling up.


However, from my point of view, Putin is a potential Hitler, possibly interested in world wide conquest. And if we have to suffer some economically, in order to oppose him, that may simply be what is necessary.
 
We live paycheck to paycheck. Life has always been a struggle.

We just got a high gas bill when filling up.


However, from my point of view, Putin is a potential Hitler, possibly interested in world wide conquest. And if we have to suffer some economically, in order to oppose him, that may simply be what is necessary.
I think the gas companies are gouging us, simply because they can.
 
Obviously these gas stations charging so much more than the Cali average are gouging. I hope they get stiff fines for doing that.

There was a very very powerful Mafia figure. One of his scams involved gasoline prices. I think this was back in the 80s. He was so successful at it, that the Mafia bosses became jealous. He knew that he was being targeted for death, because they wanted to steal his business. In one of the most unusual incidents in the history of the Mob, they actually let him buy his way out of the Mafia. If I remember the figure, I think he made something like $15 million dollars just on the gasoline scam.

And, the thing is...the Mafia has nothing on OPEC and America's oil millionaires/ billionaires. They make the Mafia look like small potatoes.
 
There was a very very powerful Mafia figure. One of his scams involved gasoline prices. I think this was back in the 80s. He was so successful at it, that the Mafia bosses became jealous. He knew that he was being targeted for death, because they wanted to steal his business. In one of the most unusual incidents in the history of the Mob, they actually let him buy his way out of the Mafia. If I remember the figure, I think he made something like $15 million dollars just on the gasoline scam.

And, the thing is...the Mafia has nothing on OPEC and America's oil millionaires/ billionaires. They make the Mafia look like small potatoes.
Michael Franzese.

He helped implement a scheme to defraud the federal government out of gasoline taxes in the early 1980s.

https://en.wikipedia.org/wiki/Michael_Franzese
 
I feel for those impacted by inflation who might have to choose between eating and heating come this winter or whose mortgage is coming due.

My cousin is one of those who is rubbing her hands in glee with the thought of her expanding bank balance.....never has she given a penny to charity and brags about it. When I once asked her for a donation to the food bank she quoted Marie Antoinette....sad

I think this will bring out the best and worst in people.
I gave a ❤️ to your post not because I love what your cousin is like, but your analysis of the current situation. I think you are so right, there are people who don't care if they have the funds and some that are profiting off the increased prices. People struggling, who cares for some.
 
Does anyone consider the people on minimum wages when the subject of inflation comes up?
I'm sure people do. If they lived off that themselves. I graduated college at age 32. Prior to that I worked multiple low wage, menial jobs, mainly minimum wage. A few times I held two jobs.

I'm not sure if you are asking if no one considers them or you believe no one does.
 
Some people don't care or quickly forget. Even my own mother who lost everything during WWII in Europe, was an immigrant, left my bio-dad and did struggle. Well after years of having my stepfather with a good job and pension and not having to worry about money. They didn't live extravagant for sure, but what was needed could be bought.

They moved to a nice mobile park in a new place. I remember my mother snickering that there were people in the park living off their social security. Oh really, snickering. Forgot didn't she.
 
We are careful about what we buy -- no more wasted food and no more buying things we want, but don't need.

Grooming my dog costs about $95!!! So I hauled out my grooming tools yesterday, and started to work. After that, he refused to sleep in my room. :) I'm not done yet. I did about 60% of the rough cut, and have to do the finish cut and his legs and chest/stomach. By that time, hopefully he will look well-groomed.

We are careful about where we go. We order most food delivered since it is "free" and nearly everyone goes maskless.

My son and I spend a lot of time turning off the a/c ... especially when my daughter sets it at 68 and at night it's about that temp outside. I say open windows, they all have screens. We also put in nightlights from Walmart (they have no bulbs!) and make sure all other lights are off in the house when we go to bed.
 


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