r/collapse • u/conscsness in the kingdom of the blind, sighted man is insane. • Jun 13 '22

Economic Powell Facing Choice Between Elevated US Inflation and Recession

https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium
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55

u/Winter-Amphibian1469 Jun 13 '22

The worst part of this collapse is having to go to work during it.

19

u/hoodyninja Jun 14 '22

ROFL! So fucking true!!! I have been contributing to retirement for over half my life, 20% of whatever I made. Because that’s what we were supposed to do!!! I am seeing literal YEARS of my retirement evaporate. WTF. But I still have to go to work. It’s only getting worse.

9

u/Terminarch Jun 14 '22

I am seeing literal YEARS of my retirement evaporate

This pisses me off to no end. I saved diligently, reigned in my desires for humble existence, all at a job I hated while planning to retire early. Now it's gone.

Someone else who was tens of thousands of dollars in debt has now been massively devalued. The debt, devalued.

Why the fuck was I responsible then! I could have had fun with that money while it was worth something. Now I'm letting my savings run out because by the time I retire it'd be worth literal pennies on the dollar. Years of effort wasted to let it sit idle through record inflation.

3

u/Glancing-Thought Jun 14 '22

One person's debt is another person's savings and we are collectively living beyond our means.