Welcome to episode #74 of "Not Me, But You!" Yes there ARE TWO episodes that are numbered 73! But that is because the system would NOT allow me to label one 73-A and the other 73-B! Sorry for the confusion.. It's great to be back creating/podcasting/uploading episodes again.
So in a thumbnail sketch summary, inflation is caused, in part, by governments printing MORE fiat currency. IF, the US Gov't prints MORE dollars, then the dollars you already have, ARE WORTH LESS! What happens to PRICES when dollars are worth less? Prices INCREASE, prices RISE! Why?...Because is takes MORE dollars to buy the same things/services that you brought BEFORE the Gov't printed MORE dollars!
In my country, the inflation RATE is bogus! Why? Because when the inflation rate is calculated (inflation said to increase about 3% to 4% per year) the cost of FOOD/ENERGY is TAKEN OUT of the calculation! Do you know anyone who can survive WITHOUT food or energy(electricity, gasoline, natural gas etc.)?
To get an accurate idea of INFLATION, simply go to the store where you buy groceries and look at the cost of things like milk, eggs, meat, cheese, etc. Have those prices only gone up by 3% to 4% in the past year or 2 years or 5 years?? Haven't you heard an older relative speak about how a GALLON of gasoline used to cost 30 CENTS?!! Why is that? Because of INFLATION!
Inflation is like a HIDDEN tax on your money. It is EATING away at the BUYING POWER of your money. What is the solution? You have to make MORE money each year in order to KEEP PACE with the ACTUAL inflation rate! YouTube link to Michael Saylor video mentioned in this episode https://www.youtube.com/watch?v=Vuz44fwkEz0&t=2128s
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Have courage today, to pick one thing, and work on your dreams!
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I'm not a financial advisor. This podcast is for education/entertainment purposes only. You will need to do your own research and accept responsibility for the results of any money you choose to invest. I love using Schwab.com to buy/sell stocks/ETF's/closed end funds/options. Schwab has a very user friendly app/website and their customer service is excellent. I can easily get to speak to a human being whenever I have questions.
