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RE: Inflation Warning, Inflation Will Hit Like A Tidal Wave - Episode 1393a
We have been on an economic slippery slope for many years, decades even.
Too many 'bubbles' out there. Too much lending; who can forget 2008-2009 collapse?
Is crypto the true answer to security? I believe it can be.
Pay off your debt. Stop living paycheck to paycheck.
It is coming and when it does... we will be a world of hurt.
You are giving good advice about debt - except during hyperinflation. A classic example of the effects of high inflation is Weimar Germany, after the Treaty of Versaille, when the currency became so worthless that a a few days wages could pay off debts that had been expected to take decades to pay.
Creditors actually ran away, and hid, from people paying off mortgages with worthless money.
ARMs are not included, as hiking interest rates is commonly done to counteract the inflation. Those folks jumping on ARMs now may regret it very much, soon.
It may be immoral to take on debts knowing you can pay them off with devalued currency after inflation hits hard, but it's not stupid.
I am staying out of debt. I'm sure that says much about my intelligence, but I'm not in charge of my intelligence, only my morals.