How Do You Prepare For Stagflation?

[Jay Walk]

No consumer debt payments
no car
no house
no credit card payments

Stop giving all your money to PAYMENTS

 

[nwslopoke]

No consumer debt payments
no car
no house
no credit card payments

Stop giving all your money to PAYMENTS

Is there a downside to paying off your house early? I have a coworker who cashed out his 401 but now says he regrets it. He says he's probably going to have to work longer. I've asked him about it but he's not 100% open. Obviously it's his business.

With these Trillion dollar spending packages and straight up money laundering by congress, I can see future benefits (we've paid for) really being at risk. In 99 or 2000, I forgot the company, but my sisters older neighbor lost his 401k in a scandal and had to move in with his son or be in the streets.

Our safety nets don't have safety nets. As with our physical protection we are financially on our own.

 

[MTpockets]

I know a few people working more than one full-time salaried position since remote work has become popular.

Two salaries, Double Insured, Multiple Retirement Plans & Bonus Bonuses...They say that their vacation time is used to cover in-person obligations to the alternate employer. So, vacation time would be considered a loss.

I hope that everyone can figure out a strategy to make it through to the other side.

MT

 

[slimmer13]

Is there a downside to paying off your house early? I have a coworker who cashed out his 401 but now says he regrets it. He says he's probably going to have to work longer. I've asked him about it but he's not 100% open. Obviously it's his business.

If you're paying 3% interest on your mortgage it makes no sense to pull money out of your 401k that you are making around 10% on.

 

[ATCclears]

Since the Fed is still underestimating the inflation problem, not recognizing that a wage-price spiral has already started, we expect they will have to raise rates faster than they now expect. We expect the target range to reach 3.75-4.00% as soon as in December.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[arakboss]

Lay offs are picking up steam. Fortunately we still have a surplus of jobs. We will see if laid off workers take those jobs or collect unemployment for as long as possible.

 

[ma96782]

What underwear?

Aloha, Mark

 

[MichaelH]

Unless I'm retiring in the next six months, I'm not doing anything different. My daily driver gets 16mpg though and I've been looking at getting something that gets 30 + for some time, but I'm a bit more motivated to do that or get battery op. The big gas price spike in 2002 to 2003 caused me to get a diesel that got 40 mpg (it was great) and my wife to grab a used Prius. Kids prompted the current ride, but I'm tired of filling it now.

To be clear I don't for a second blame those gas prices on the executive branch or congress. Supply and demand on the world market (the Russian sanctions make that market all screwed up) and supply and demand on (relatively) local refinery capacity and production set prices. Sometimes supply and demand capitalism isn't so great for large markets, especially when modest income working folks rely on a comodity to work and order their lives. IMO burning dinosaurs (and their food) is a pretty dumb and antiquated way to get around (we've been using this as a primary mode of transit since before we all even had phones). I'm lazy (and I always have lots of crap) and it rains alot here, so I don't want to bike. I want alternatives, but I'm pretty sure I don't want to give that dbag Elon Musk a dime.

 

[Burt Gummer]

 

[Burt Gummer]

 

[monkeybutler]

Huh. Almost like doomsaying is its own industry.

 

[Hueco]

Call me crazy, but if money today is worth more than money tomorrow...I see no reason to hoard savings today.

Lots of people here still under the impression that they'll get to retire. The sheer volume of the Boomer generation is going to bankrupt the country as they cash in those SS checks. As that group dies out and loses voting power...I'm going to guess that we're going to see more collectivist proposals as younger gens attempt to distribute whatever wealth is left from each individual back into society as a whole.

Might as well just keep on keepin' on. Inflation/Spending/Debt has been a thing for a century now. As China grows, we're going to see them make a power play to become the defacto world currency. Those are going to be interesting times.

IMO burning dinosaurs (and their food) is a pretty dumb and antiquated way to get around (we've been using this as a primary mode of transit since before we all even had phones). I'm lazy (and I always have lots of crap) and it rains alot here, so I don't want to bike. I want alternatives, but I'm pretty sure I don't want to give that dbag Elon Musk a dime.

The problem is that the US has built itself, since the Model T, into an automobile centered country. In older Euro cities, there are entire city blocks where you can get from your house, to the grocery, to an electronics store, to shops and restaurants...all quickly by foot without risking being hit by any sort of transportation mobile - be it car, motorcycle, train, etc. We don't have such walkable locations. Even living in downtown PDX, you're fighting cars every 100ft.

The fact that the Max was planned out with no express lines simply shows how it was only ever a "for show" feature of the city - like most things PDX, really.

It sucks but there is no simple transportation solution...until you start zoning for higher density, building streets as small walkways, building piazzas and large open spaces for people to gather...and then not being a governmental prick about someone's impromptu lemonade stand...we're stuck in this mess. The problem of zoning: the wealthy make the rules...and they have always voted down higher density in order to keep their single family streets with cars in every garage (because how else can you transverse such low density to live?). "Muh property value" is the death cry of an entire generation.

 

[Burt Gummer]

Those are mellow actually. Epic Economist takes the cake for doom porn. The guy has the best voice too.

 

[ATCclears]

On voiceovers, one can rent a specific voice to read copy for a product video, etc.

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