<\/a><\/p>\n<\/h2>\nInflation \u2013 Go Big and Go Broke<\/h2>\n
As summer loses its heat and gives way to autumn, the world\u2019s population is experiencing hardships caused by inflationary pressures which will change the basic financial survivability of millions of people. The last 10 to 15 years of cheap money and low inflation lulled people to sleep and basic financial principles were ignored.<\/p>\n
The phrase \u201clet the good times roll\u201d has pivoted, resulting in a new phrase \u201cwake up and smell what inflation is cooking.\u201d Living beyond our means has become a reality as we ignored the basic principles of personal financial responsibility. Many are now struggling to understand what the word inflation is and what it means for their future financial stability. What is inflation? Simply, inflation is the gradual loss of purchasing power reflected in a broad rise of prices of goods and services over time, eroding purchasing power for both consumers and businesses. In other words, your dollar will not go as far today as it did yesterday or a few months ago. For comparison purposes, in 1970, the year of my arrival in Canada, the average cup of coffee cost was 25 cents, by 2019 the cost had climbed to $ 1.59, so you would have been able to buy three cups of coffee in 2019 versus 20 cups in 1970. That\u2019s inflation.<\/p>\n
As we lose purchasing power on many of our basic needs, such as food, utilities, gasoline and shelter stressful challenges insert themselves into our lives further compounding the difficult times we have all experienced the last two and a half years. In a healthy economy, inflation is typically in the range of two per cent, which economists consider to provide price stability for our lives. Unfortunately, this stability provided a false sense of financial security for many and with a heated real estate market and low interest rates, many gambled that this stability would remain and provide them with an opportunity to better their lives. Unfortunately, the world is not a stable place and consequential events such as wars and pandemics can disrupt the normalcy on which we based the positive progress of our futures.<\/p>\n
Banks and other financial institutions which originally received you with open arms to secure your investments, don\u2019t want you today when you really need them. These faceless institutions devoid of care or empathy will have no problem in taking from you what you sacrificed to accumulate. People\u2019s dreams are being dashed and it would appear that the dismantling of \u201csunny days\u201d is just beginning. Many in North America are proponents of raising interest rates to much higher levels, suggesting that it\u2019s the only way to contain inflation and return the rates to 2% levels, however, the rates continue to go up at a furious level so it means interest rates may have to rise above 10%. How many millions in Canada will lose their homes at these levels of expected rates?
\nWhat to do? Panicking is not the answer but adjusting our lives to accommodate the inflationary conditions is a step that each of us should take.
\nThere will be many that will not be spared from the ravages of societal greed and inhumane treatment of those in need. In this week\u2019s Milenio Stadium we are providing you with information and some tools you may implement in your lives to ease some of the financial burdens of the coming times. Time to return to live within our means, and that includes our governments by implementing policies that may ease some of the burdens of the neediest citizens. In a rich country like Canada, it should be possible, if we only had the necessary leadership.
\nInflate slowly.<\/p>\n
Manuel DaCosta\/MS<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Com o ver\u00e3o a perder o seu calor e a dar espa\u00e7o ao outono, a popula\u00e7\u00e3o mundial est\u00e1 a enfrentar dificuldades causadas por press\u00f5es inflacion\u00e1rias que mudar\u00e3o a …<\/p>\n","protected":false},"author":27,"featured_media":100268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4502],"tags":[4116,18129,16065],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/mileniostadium.com\/wp-content\/uploads\/2022\/09\/Inflation-Cartoon-Port-copy2.jpg","_links":{"self":[{"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/posts\/100265"}],"collection":[{"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/comments?post=100265"}],"version-history":[{"count":1,"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/posts\/100265\/revisions"}],"predecessor-version":[{"id":100269,"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/posts\/100265\/revisions\/100269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/media\/100268"}],"wp:attachment":[{"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/media?parent=100265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/categories?post=100265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mileniostadium.com\/wp-json\/wp\/v2\/tags?post=100265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}