Harvard-trained economist and Chief Economist of Instawork Dan Altman explains how to survive inflation. According to Altman, inflation is being driven by a combination of factors including supply chain disruptions partly due to the Ukrainian war with Russia, labor shortages, new legislation from Washington, a shortage of affordable housing, and increased demand as the economy recovers from the COVID-19 pandemic.
This has led to higher prices for goods and services, which can be a challenge for individuals and businesses alike.
Altman suggests that one way to survive inflation is to focus on increasing productivity and efficiency. This can be achieved by investing in technology and automation, streamlining processes, and finding ways to do more with less. He also recommends diversifying investments and considering alternative assets such as real estate, commodities, and cryptocurrencies.
In addition, Altman advises individuals and businesses to be mindful of their spending and to prioritize essential expenses. This may involve cutting back on discretionary spending or finding ways to reduce costs in other areas.
Overall, Altman emphasizes the importance of being proactive and adaptable in the face of inflation. By taking steps to increase productivity, diversify investments, and manage expenses, individuals and businesses can better navigate the challenges of a changing economic landscape.
What About The 2022 Inflation Reduction Act?
My dear readers, it seems we have a new act on the horizon that may affect our finances. The Inflation Reduction Act of 2022, they call it. But let us not be fooled by the name, for it may not be as beneficial as it sounds.
The act proposes to reduce inflation by increasing interest rates and tightening the money supply. While this may sound like a sensible solution, it could have unintended consequences for the economy and for our own finances.
For one, higher interest rates could make it more difficult for individuals and businesses to borrow money, which could stifle economic growth. Additionally, higher interest rates could lead to lower stock prices and reduced investment returns.
Furthermore, the act proposes to limit certain tax deductions, which could result in higher taxes for some individuals. This could have a significant impact on those who rely on these deductions to lower their tax burden.
While the intentions of the Inflation Reduction Act may be noble, it is important to consider the potential consequences before we rush to support it. As always, we must remain vigilant and informed about the policies that affect our finances and our way of life.
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In conclusion, my dear readers, let us not be swayed by the fancy words and promises of politicians. Let us instead examine the facts and make informed decisions about our own financial future.
The Answer To Inflation Survival
Inflation’s at a 40-year high. There is less supply and more demand for the essentials of life. If you’re suffering the feeling anxiety – some of us even outraged – due to the cost of housing being higher, every trip to the grocery store and gas station is cutting deeper into your money reserves, then I have some options for you here on the site coming up in the future.
I realize you may need help, and so I’m going to be posting more about how to survive inflation. I’m going to bring you credit card tips, grocery ideas, coupon tricks, and more that could save you thousands. I’m going to get into how to deal with inflation emotionally and financially.
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