The stress of managing high living costs and food is leading some to cope by actually spending more, survey finds.
  • DominusOfMegadeus
    51•10 months ago

    Michelle Griffith, Chicago-based senior wealth adviser at Citi Personal Wealth Management, said it’s concerning. Many consumers she’s talked to don’t have hope that they can achieve the American dream. “There will be a time when inflation and prices will continue to go down. The Fed is already talking about that. You see that on the horizon now,” Griffith said. “What I want [consumers] to recognize is inflation is cyclical. It doesn’t stay the same, and doom spenders have to keep that in mind.”

    Hey Michelle, the price gouging won’t go away on its own, and it’s not cyclical. Hate to break it to you. Also the Fed are a bunch of jackasses, with extremely limited tools.

    • Semi-Hemi-Demigod
      33•10 months ago

      Also, I have never seen prices go down except for gas. The Fed wants around 2% inflation every year.

      She’s a pretty shitty wealth advisor if she thinks these things.

      • NeatoEnglish
        14•10 months ago

        And inflation isn’t like loan or mortgage rates. It going down didn’t change the inflation that built up. It’s cumulative. Those few years of 5-7% inflation made everything more expensive by that amount. And our wages didn’t increase by that amount. So effectively we all earn about that much less for no reason.

    • @SpaceNoodle
      19•10 months ago

      The inflation already went up, Michelle. Prices aren’t going to drop.

    • @autumn_rainEnglish
      5•10 months ago

      The cost of groceries goes up - it never goes down. Electric rates are going up and it seems everything is going up. Medical care is horrible expensive and it’s not going to come back down again. I don’t know what planet she’s on.