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Inflation is our only hope?

http://finance.yahoo.com/tech-ticker/pray-for-inflation----it's-our-only-hope-464142.html?tickers=%5Edji,%5Egspc,spy,dia,udn,tip


I have said time and again Inflation is on the horizen. I've seen many poo poo it. It is inevitable and you know it if you know anything about economics. The only way to get out of this mess is for the dollar to devalue and that is what happens when inflation happens. It also hurts the poor and middle class while leaving the economy stagnant because people cannot afford to buy even the necessities.
It won't really be noticed to much this year even though they have already raised the mortgage interest rate. Many of you don't know what inflation is, you have never been through a period of inflation such as during the Carter years so you don't see it as a threat.
Does anyone remember those days and how it affected you?
I remember our first home had an interest rate 18%.

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 10:36 AM on Apr. 11, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (21)
  • Depressing as hell.

    mustbeGRACE

    Answer by mustbeGRACE at 11:02 AM on Apr. 11, 2010

  • If so it won't be pretty.I was a twerp in the Carter years but through family I knew of it lol..and he really messed us up.
    tnmomofive

    Answer by tnmomofive at 11:09 AM on Apr. 11, 2010

  • Anonymous

    Answer by Anonymous at 11:42 AM on Apr. 11, 2010

  • From the article
    It's painful and unfair--those who have been responsible and saved money will pay the price for those who borrowed money, racked up huge debts, and spent more than they could afford. But it's what the Fed is (quietly) aiming for.
    tnmomofive

    Answer by tnmomofive at 12:04 PM on Apr. 11, 2010

  • I lived through the Carter years with double digit inflation and 22% interest rates. I remember the gas lines and how much everything cost. I was a young wife with not much money. It wasn't that much fun. Unless you are at least 50 yo, you don't remember this as an adult. You might not know what you are talking about if you are young. Keep your inflation to yourself.
    jesse123456

    Answer by jesse123456 at 12:55 PM on Apr. 11, 2010

  •  Many of you don't know what inflation is, you have never been through a period of inflation such as during the Carter years


     it was not Carters doings that caused inflation

    Anonymous

    Answer by Anonymous at 1:33 PM on Apr. 11, 2010

  • 1:33 so what was it then? You made the statement.
    Anonymous

    Answer by Anonymous at 1:37 PM on Apr. 11, 2010

  • Oh, yes it was Carter's fault.
    jesse123456

    Answer by jesse123456 at 3:14 PM on Apr. 11, 2010

  • http://en.wikipedia.org/wiki/Reaganomics


    Read the topic "Historical Context" and learn the term "stagflation" - It was Carter's fault.

    jesse123456

    Answer by jesse123456 at 3:17 PM on Apr. 11, 2010

  • Really on the mortgage rate? We JUST refinanced our home in March and got 3.5% (not 13.5...THREE POINT FIVE) interest rate which we are locked in to for forever (no ARM). So, I am just curious what the interest rate is now?
    Anonymous

    Answer by Anonymous at 3:38 PM on Apr. 11, 2010

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