Inflation is causing people to reduce retirement contributions to save #shorts
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Simple but really effective start get Biden and Kam out of office
The inflation spike had very little to do with the Biden administration. It was, in fact, a global phenomenon that effected most of the industrialized world and it was, for the most part, caused by the pandemic.
Supply chains were disrupted which caused shortages which, in turn, drove prices up.
During the pandemic people weren’t spending nearly as much money as they usually do. Travel and tourism came to a screeching halt. Few people were going to the movies, bars, shows or any of the other places where people spend their disposable cash. People weren’t eating out or going to the gym.
When the pandemic passed people went into a spending frenzy catching up on all the things they couldn’t do during the pandemic. This pushed a TON of new money into the economy and this triggered the inflation spike.
The reality is that not only did they not create the inflation spike, actions taken by the Biden administration, bipartisan actions btw, allowed us not to be hit nearly as hard as most countries and we recovered a lot faster than most countries as well.
The annual inflation rate for last year was just over 4%. This year we’re down to 2.4%. Most economists will say that 2% to 4% is the ‘sweet spot’ for inflation. 2-4% shows a sustainable, gradual growth in the economy, which is what you want to have.
Inflation is not the problem. The fallout from the inflation spike, the high prices we’re dealing with now, are the problem. Those prices should be coming down but the corporations are taking their sweet time making the adjustments.