Replies (2)

Default avatar
nobody 2 years ago
Even as a Canadian, I have had discussions with my friends about this aspect of inflation over the past three years: our current inability to make financial plans and goals, and having a realistic shot at seeing them come to fruition. With a combined household income in the low six figures, families like mine here may not necessarily ever miss a meal or be without the basics, but goals involving any capital or that are considered luxuries like travelling to other parts of the country to visit aging family members, feel like they are permanently on the back burner. Home improvement and maintenance plans, paying off a mortgage on a house whose value is still down $60-$80k from it’s purchase price 12 years ago (largely because of the Trudeau government’s attack on the oil and gas industry here), and dreams of getting off of the hamster wheel while we still have some health and vitality left, all feel like they are on permanent hold. Wages constantly lagging 10-15 years behind inflation, employers demanding more, crammed hours per week due to downsizing, higher operating costs and unwillingness to accept waning profits, have taken away many people’s sense of optimism for what lies ahead, and the free time to make things happen. Hope for my kids inheriting anything other than a dystopian future where they are constantly on the defence against greater measures of control and invasions of privacy, is disappearing. Dreams are a huge casualty of inflation. To me, Bitcoin, and being able to save a pittance every month in an asset that doesn’t steal from me, using funds that have already been taxed to shit, represents my current biggest hope. And even that is now being threatened through regulation and the co-opting of the asset by government and large financial institutions. This isn’t the future I had in mind when I started working in my mid teens. And yet my boomer relatives who were closer to the money spigot in the 70’s and 80’s are wondering why us “kids”, now in our 40’s and 50’s, aren’t double-paying our mortgages every month with the salaries we are making. Ugh.