from Kerry Lutz's Financial Survival Network
The world is bankrupt. How does the impending global bankruptcy affect you? This episode’s guest chats with me about how we got to where we are economically, and what we can expect in the coming years. Jerry Robinson’s saying is “Follow the Money,” but in order to do so, we have to consult past decisions and events to understand the economic effects that come into play years later. This is especially relevant to the pandemic and the policy responses back in 2020 that produced the inflationary situation of 2022. Similarly, what happens in this year will dictate our financial situation in the next 2-3 years, which will hopefully look better as rates adjust and balance is restored. Tune in for expert insight from Jerry.
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Inflation is ultimately a psychological phenomenon. You only lose buying power if you overpay for a good or service. Stop paying the higher prices wherever possible. Boycott. Drive less. Consume less. Seek alternatives. Corporations can only charge what the market can bear and will drop their prices if forced to. Money supply is only one component. You must also have supply and demand dynamics and money velocity to produce inflation. Consumers have the power and can reject higher prices.The only real vote you have is how and where you choose to spend your money.