479: How Inflation is Ravaging America
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 11 December 2023
⏱️ 37 minutes
🧾️ Download transcript
Summary
A crying, sniffling mother reveals how inflation is ravaging her family. Despite a two-parent income, she tells us that they're trending toward poverty due to wages that struggle to cover inflated prices.
For home prices to fall, many homeowners need to walk away. But if they tried that today, they'd have to pay more in rent than they would on their low mortgage payment.
It's absurd to only have one source of income.
401(k)s are considered a scam by some. I explain. Plan participants buy an income stream "probably later". Real assets that cash flow provide income "surely now".
There's no such thing as: rent inflation, food inflation, or energy inflation. Inflation comes from the central bank.
One dollar in 1776 has the purchasing power of $35.36 today.
The worst consequence of inflation is that one parent could work to be middle class in the 1950s. It became two by the 1990s. After the 2020s inflation wave, two parents might not be enough anymore.
I explain why the Fed should keep interest rates the same for at least one year. But I doubt that they will.
Resources mentioned:
Show Notes:
Terrific inflation resource, charts:
https://www.officialdata.org/us/inflation/1776
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Transcript
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| 0:00.0 | Welcome to GRE. I'm your host Keith Whitehold. Rents move sideways. Home prices keep rising, |
| 0:07.0 | and inflation is ravaging the American household to a sad and astounding extent. |
| 0:13.0 | We're going to listen in to a mom reveal how inflation has turned them into a sad family of four that just can't make it in America anymore today on Get Rich Education. |
| 0:27.6 | When you want the best real estate and finance info, the modern internet experience limits your free articles access, and it's replete with paywalls, and you've got pop-ups and push notifications and cookies disclaimers oh at no other time in history has it been more vital to place nice clean free content into your hands that actually adds no hype value to your life. See, this is the golden age of quality |
| 0:56.4 | newsletters and I write every word of ours myself. It's got a dash of humor and it's to the point. |
| 1:04.3 | To get the letter, it couldn't be more simple. Text GRE to 66866. And when you start the free newsletter, you'll also get my one-hour, fast real estate |
| 1:15.5 | course completely free. It's called the Don't Quit Your Daydream Letter and it wires your |
| 1:22.2 | mind for wealth. Make sure you read it. Text GRE to 66-866. |
| 1:28.4 | Text GRE to 666-866. |
| 1:34.7 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:42.1 | This is Get Rich Education. |
| 1:50.9 | Welcome to GRE from Bar Harbor, Maine to Ann Arbor, Michigan, and across 188 nations worldwide. |
| 1:56.2 | I'm Keith Weinhold, and you're listening to Get Rich Education. |
| 2:00.2 | Whole prices keep looking up. |
| 2:02.1 | FHFA shows us they're up 5.5% year over year. |
| 2:06.7 | That's great, but renters are tapped out. |
| 2:12.2 | Now rents rarely fall. |
| 2:13.7 | Gradually rents just go up, up, up, but they're really just moving to the side right now. |
| 2:19.1 | Rents are staying stable. |
| 2:21.1 | With all the inflation I'm going to talk about shortly, since renters are paying more for |
| 2:25.6 | everything from groceries to gas, they really can't afford to pay much more in rent. |
| 2:31.9 | New rent increases, they're really not sticking in a lot of cases because renters are tapped |
... |
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