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CNN trying to convince you as to why inflation is actually good for you!
Posted on 12/1/21 at 1:46 pm
Posted on 12/1/21 at 1:46 pm
Cnn
That amount of spin will make your head dizzy!
quote:
No one likes paying more for stuff. That's why inflation, especially the sharp price increases we've seen in recent months, feels like a dirty word. But on the whole, inflation can actually be a good thing for many working-class Americans, especially those with fixed-rate debt like a 30-year mortgage. That's because wages are going up, which not only empowers workers but also gives them more money to pay down debt. Plus, in the case of a mortgage, your monthly payment will be the same but your house will increase in value. And many of the people taking a bath when prices rise are higher-net worth people who hold the vast majority of government bonds. The trouble is, you're not going to feel the upside immediately. * "There is light at the end of the tunnel, it's just that it could be a couple of years," said Kent Smetters, professor of business economics at the Wharton School of Business. The immediate benefits of inflation to everyday people are less tangible than the drawbacks — you feel the sting of your grocery bill and the gut-punch of filling up your gas tank. Less palpable but still significant is the dwindling burden of your debt. "If you're borrowing at a fixed rate, like a 30-year mortgage, then you're a winner as inflation goes up," says Smetters. "We often think of a 30-year mortgage as an inflation hedge." In other words, the cost of your mortgage is holding steady, while the amount of money you have to pay for it is going up. It's not a perfectly synchronized event, of course: Wages don't go up immediately with inflation, but eventually they do, Smetters said.
That amount of spin will make your head dizzy!
This post was edited on 12/1/21 at 1:49 pm
Posted on 12/1/21 at 1:49 pm to Revelator
Most of the people that go to CNN for their news will be repeating this bullshite because they are too stupid to know any different.
Posted on 12/1/21 at 1:50 pm to Revelator
My annual wage increase isnt even close to covering the annualized inflation we are seeing.
Im lucky that we alresdy had a cushion in the wages earned vs living expenses. But the premise that inflation is good for fixed debt because wages are increasing is probably the most simple minded drivel i’ve read so far.
Im lucky that we alresdy had a cushion in the wages earned vs living expenses. But the premise that inflation is good for fixed debt because wages are increasing is probably the most simple minded drivel i’ve read so far.
Posted on 12/1/21 at 1:50 pm to Revelator
I'm sure all those low income individuals that don't own a home but rent, will be so happy for folks like myself who have a fixed rate mortgage.
This post was edited on 12/1/21 at 1:54 pm
Posted on 12/1/21 at 1:51 pm to Revelator
To be fair, it actually can help Boomers who are getting insane returns on their investments and have a paid for or fixed raise house. Especially if the government is boosting SS payouts in line with inflation.
The young democratic voting base of renters and student loan borrowers will get boned though
The young democratic voting base of renters and student loan borrowers will get boned though
Posted on 12/1/21 at 1:51 pm to Revelator
Yeah, you’ll be able to pay down debt (assuming your salary is being adjusted for inflation) on something that is now valued less. Congrats!
Posted on 12/1/21 at 1:51 pm to Revelator
quote:
in the case of a mortgage, your monthly payment will be the same but your house will increase in value
Holy sh!t
Posted on 12/1/21 at 1:55 pm to Revelator
This is why companies are buying up as many single family homes as they can and then renting them.
Posted on 12/1/21 at 1:55 pm to Revelator
He is right that debt can be a deal in an inflationary period. So, it’s possible someone established with everything financed on past years prices will come out of this okay. However, what about retirees? What about young people who are just trying to start life?
This post was edited on 12/1/21 at 1:58 pm
Posted on 12/1/21 at 1:59 pm to Revelator
Yes, inflation can be good for those with fixed debt. A lot of what they said was true.
But the inclusion of this phrase:
is the garbage part. No, on the whole, inflation is corrosive; it just has some upside for some people.
But the inclusion of this phrase:
quote:
But on the whole, inflation can actually be a good thing for many working-class Americans
is the garbage part. No, on the whole, inflation is corrosive; it just has some upside for some people.
This post was edited on 12/1/21 at 2:08 pm
Posted on 12/1/21 at 2:00 pm to hogcard1964
There is nothing bad, that CNN can’t spin as good, if done by liberals, and nothing good, they can’t spin as bad, if done by conservatives.
Posted on 12/1/21 at 2:03 pm to Revelator
This right here explains why they don’t care about National debt . Inflated dollars to pay off ( hint : they don’t ever plan to pay off shitt, they are Democrats they don’t pay bills )
Posted on 12/1/21 at 2:06 pm to Revelator
Recycling spin. MSM explained why high unemployment is good.
'It gives families more time at home. People develop hobbies like making art.'
'It gives families more time at home. People develop hobbies like making art.'
Posted on 12/1/21 at 2:08 pm to Revelator
It's funny how they act like anything that hinders the lower class and minorities is racist and keeping your foot on the heads of under-earners. . . but inflation affects that group worse than any other group. But don't worry, inflation is immune from being called racist or claims of class warfare because the Dems are in clear control.
Posted on 12/1/21 at 2:10 pm to Zach
quote:
Recycling spin. MSM explained why high unemployment is good. 'It gives families more time at home. People develop hobbies like making art.'
Yep, that’s a good one too.
I bet they could explain why prison rape is a good thing, if done by a Democrat
Posted on 12/1/21 at 2:13 pm to Revelator
Haha jokes on them, I have an adjustable rate mortgage
Posted on 12/1/21 at 2:13 pm to Revelator
That's a whole bunch of malarkey.
Posted on 12/1/21 at 2:18 pm to Revelator
CNN is racist as they should know that blacks disproportianately rent and rents are going up with inflation.
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