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Forum » As someone who has lived through numerous currency devaluations…
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Thread: As someone who has lived through numerous currency devaluations…

post 1664414063 07-14-2022, 07:08 PM
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As someone who has lived through numerous currency devaluations…

…you can’t beat inflation by trying to cut your expenses.

Now currency devaluations aren’t the same thing as hyperinflation but the effects on the ground are similar.

In both cases, cutting your household expenses can only deliver a one-off reprieve from escalating costs of living, whereas inflation continues to erode your purchasing power over time.

You can only win by increasing your income. My concrete suggestions are:
-if you are a low-wage worker start or join a union
-if you can afford to invest do so in assets that are part of the inflation problem, if that makes sense. Think about how you can use leverage sensibly.
-if you are a well paid professional take advantage of the tight labour market to job hop and get a big pay increase
-if you think you can start a business (including selling your labour for yourself rather than as an employee) do so

That’s about all I can think of. There are other solutions such as getting more/better qualifications to increase earning power but the above are short-term fixes which deliver long-term solutions
post 1664414343 07-14-2022, 07:14 PM
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Originally Posted By Anachron⏩
What if I just rent instead of owning, and invest the difference in index funds?
To get the same leverage investing in shares compared with property is risky because of the interest rate exposure and the possibility of a margin call.

Personally I wouldn’t do it. But at this stage in my life I have no reason to take dumb risks.
post 1664414593 07-14-2022, 07:20 PM
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post 1664414613 07-14-2022, 07:20 PM
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Clear, simple, rational advice for most folks.

Rept.
~The BRAVE Kreme De La Kareem of the Fraiche Klan, founder of the 3.50th Elite Division, called the Ph@ggot Freedom Fighters~

Femalewarriorxo is my love <3

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~SS is my hater crew~

***2022 Aesthetics Crew***
post 1664414993 07-14-2022, 07:31 PM
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Originally Posted By Anachron⏩
What if I just rent instead of owning, and invest the difference in index funds?
Ignoring the fact that the majority of homeowners are house poor and have no leftover money then yea it’s actually good advice ****ggot
post 1664415183 07-14-2022, 07:35 PM
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Originally Posted By DSTEE⏩
Cool story from 2011 or some chit.
post 1664416103 07-14-2022, 07:53 PM
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Isn't the Australian dollar a devalued currency in itself?
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
-SoutheastBeast1
post 1664417633 07-14-2022, 08:23 PM
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Originally Posted By SoutheastBitch1⏩
Isn't the Australian dollar a devalued currency in itself?
Yes which is the entire point of my post f***tard
post 1664417753 07-14-2022, 08:25 PM
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Originally Posted By meanstringbean⏩
Ignoring the fact that the majority of homeowners are house poor and have no leftover money then yea it’s actually good advice ****ggot
Majority of renters are rent-poor

The difference is the rent-poor have no foreseeable hope of that changing
post 1664418183 07-14-2022, 08:38 PM
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Originally Posted By r32gojirra⏩
Yes which is the entire point of my post f***tard
Did you need to insult him?
post 1664418383 07-14-2022, 08:42 PM
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Land Chad plumber being based again.
post 1664420683 07-14-2022, 09:25 PM
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Originally Posted By MiscMathematician⏩
Unions don't do chit besides keeping you from getting fired. They negotiate for years and get you raises less than inflationary percentages. To get those raises? Increase in health insurance. At least that's my experience and its something rather than nothing. So I'm going the other route and continue to side-gig.
post 1664420743 07-14-2022, 09:26 PM
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Originally Posted By Anachron⏩
What if I just rent instead of owning, and invest the difference in index funds?
Lmao :]
post 1664421273 07-14-2022, 09:42 PM
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Originally Posted By r32gojirra⏩
…you can’t beat inflation by trying to cut your expenses.

Now currency devaluations aren’t the same thing as hyperinflation but the effects on the ground are similar.

In both cases, cutting your household expenses can only deliver a one-off reprieve from escalating costs of living, whereas inflation continues to erode your purchasing power over time.

You can only win by increasing your income. My concrete suggestions are:
-if you are a low-wage worker start or join a union
-if you can afford to invest do so in assets that are part of the inflation problem, if that makes sense. Think about how you can use leverage sensibly.
-if you are a well paid professional take advantage of the tight labour market to job hop and get a big pay increase
-if you think you can start a business (including selling your labour for yourself rather than as an employee) do so

That’s about all I can think of. There are other solutions such as getting more/better qualifications to increase earning power but the above are short-term fixes which deliver long-term solutions
What if I buy gold at 1400 per ounce & once the USD collapses I can exchange it for the strongest currency coming up? (physical gold)
post 1664422093 07-14-2022, 10:06 PM
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Originally Posted By BlackHeart.au⏩
What if I buy gold at 1400 per ounce & once the USD collapses I can exchange it for the strongest currency coming up? (physical gold)
You might at best maintain the real value (in terms of purchasing power) of currency you are holding now

Which is good in and of itself but It’s not an enduring solution
post 1664422403 07-14-2022, 10:17 PM
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Post deleted by user
post 1664423183 07-14-2022, 10:44 PM
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Originally Posted By ymer⏩
OPs solution: stop being poor.
That’s a very reductive reading
post 1664428013 07-15-2022, 03:02 AM
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Originally Posted By BlackHeart.au⏩
What if I buy gold at 1400 per ounce & once the USD collapses I can exchange it for the strongest currency coming up? (physical gold)
Where are you buying gold for $400/oz under the current market price?
post 1664428263 07-15-2022, 03:32 AM
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Originally Posted By dstee⏩
lmfao 10/10
post 1664428413 07-15-2022, 03:43 AM
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Originally Posted By Anachron⏩
What if I just rent instead of owning, and invest the difference in index funds?
My renters are now completely covering my mortgage

Which actually sucks because now I’ll get a tax bill
Plant the trees in whose shade your grandchildren will play
post 1664428483 07-15-2022, 03:48 AM
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Originally Posted By ThisIsMyAlias⏩
Where are you buying gold for $400/oz under the current market price?
On the monthly chart it's poised to head for that price as the USD keeps going higher. They work inverse with each other..

The only issue is buying enough and are you willing to protect it?
post 1664429573 07-15-2022, 04:51 AM
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If you have money problems, just make more money.

-OP
post 1664477133 07-16-2022, 12:34 AM
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Originally Posted By ProudKraut⏩
If you have money problems, just make more money.

-OP
Well it beats the retarded rice and beans and Corolla schtick that Dave Ramsey is selling
post 1664478133 07-16-2022, 01:44 AM
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Agreed

I have my own business and when reliable sources in summer of 2021 were predicting 30% inflation I immediately raised my rates 16% for the main service and 90% for additional services my clients occasionally pick up (,was way overdue for a rate increase on those anyway). Overall despite inflation I am making more now than before.

I try to encourage miscers to start their own businesses every chance I get and if anybody wants advice just ask I will do my best to help srs.
HTC
Proud Dad crew
6'4" height of the gods
post 1664478663 07-16-2022, 02:45 AM
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Originally Posted By r32gojirra⏩
Well it beats the retarded rice and beans andCorollaschtick that Dave Ramsey is selling
Lol even these are now about 40k in australia
Plant the trees in whose shade your grandchildren will play
post 1664478783 07-16-2022, 02:51 AM
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Originally Posted By r32gojirra⏩
Well it beats the retarded rice and beans and Corolla schtick that Dave Ramsey is selling
What if you do both?
Nocrew crew

SS final perma ban request
https://forum.obnoxiousbrutes.com/showthread.php?t=184614323
post 1664479353 07-16-2022, 03:44 AM
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Originally Posted By BraddlesMcGee⏩
What if you do both?
Well one will make a meaningful change to your financial well-being

The other is just depriving yourself of things for no good reason
post 1664479563 07-16-2022, 04:01 AM
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Originally Posted By r32gojirra⏩
…you can’t beat inflation by trying to cut your expenses.

Now currency devaluations aren’t the same thing as hyperinflation but the effects on the ground are similar.

In both cases, cutting your household expenses can only deliver a one-off reprieve from escalating costs of living, whereas inflation continues to erode your purchasing power over time.

You can only win by increasing your income. My concrete suggestions are:
-if you are a low-wage worker start or join a union
-if you can afford to invest do so in assets that are part of the inflation problem, if that makes sense. Think about how you can use leverage sensibly.
-if you are a well paid professional take advantage of the tight labour market to job hop and get a big pay increase
-if you think you can start a business (including selling your labour for yourself rather than as an employee) do so

That’s about all I can think of. There are other solutions such as getting more/better qualifications to increase earning power but the above are short-term fixes which deliver long-term solutions
good post just joined the electrical trades union (ETU)
post 1664480533 07-16-2022, 04:55 AM
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Originally Posted By r32gojirra⏩
…you can’t beat inflation by trying to cut your expenses.

Now currency devaluations aren’t the same thing as hyperinflation but the effects on the ground are similar.

In both cases, cutting your household expenses can only deliver a one-off reprieve from escalating costs of living, whereas inflation continues to erode your purchasing power over time.

You can only win by increasing your income. My concrete suggestions are:
-if you are a low-wage worker start or join a union
-if you can afford to invest do so in assets that are part of the inflation problem, if that makes sense. Think about how you can use leverage sensibly.
-if you are a well paid professional take advantage of the tight labour market to job hop and get a big pay increase
-if you think you can start a business (including selling your labour for yourself rather than as an employee) do so

That’s about all I can think of. There are other solutions such as getting more/better qualifications to increase earning power but the above are short-term fixes which deliver long-term solutions
Good assessment. I would say, starting a business is quite risky for most unless they are certain of returning to secure employment if necessary, but of course that's why the potential reward can be so good.

My equity portfolio is down a bit but I am confident my companies will be able to increase their prices and ultimately outperform inflation over time. RE is also down but of course I don't get real time quotes and the rent continues to roll in.
post 1664480763 07-16-2022, 05:06 AM
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Ask someone who is always being devalued anything
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