“I do worry I will eventually not be able to survive on what I’ve accumulated,” says retiree.

Runaway inflation on the way?

Jean S

I absolutely cannot understand why this administration is encouraging illegal immigrants to come over the border in droves. I’ve seen a number of interviews of these “migrants” were asked why they are coming and the majority appear to be naively assuming there are JOBS here they’ll be able to get. Given how many US citizens have been laid off and how many places have gone out of business… where in h&ll does Biden and his buddies think these immigrants are going to find work? They won’t…

In the meantime, re: inflation in general… anyone who is as old as me (70) living in the US is apt to remember those times when cost of living was much much lower. I remember in the 70s that my grocery bill (for myself and my young son) was $10 a week! Now I feel like I’m doing well if I can keep my grocery bill down to $100 a week.

Housing costs too… I remember the year I graduated from high school (1968) my parents decided to move from MA to FL. They sold a nice house (3 bedrooms, 2.5 baths, 2 fireplaces, picture windows in most of the rooms, a nice deck) … on 10 acres of woods and fields. They were asking $50,000 for the property… but the best offer they got was $40,000. They used the money from the sale to purchase a nice house on Vina del Mar island (off St. Petersburg) with a smaller yard but with a pool. Now the same properties would probably go for at least 1.5 million. Ridiculous!!

Now I am retired, living on a fixed income (a combination of social security, a small pension… and what I’ve managed to save in an IRA). At present I’m doing OK financially, albeit I live modestly and have no debts. However… I was never able to make enough to buy a house (let alone buy a home and pay it off before retiring… which “they” assume we all can do). With that type of runaway inflation as I think we’ll be seeing … I do worry I will eventually not be able to survive on what I’ve accumulated.

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Now add in the exorbitant cost of heating and cooling that the Green New Deal will bring to our shores, and I think Jean has good cause for worry.

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April 17, 2021 at 10:08AM