• _stranger_@lemmy.world
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      2 hours ago

      My niece was highly Uber eats dependent. Got her an air fryer for Christmas and it literally changed her life. Sometimes people want better but don’t know how to get there

        • Nangijala@feddit.dk
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          2 hours ago

          Abundance of unstructured and chaotic knowledge that is blended with misinformation, ads, memes and attention grabbing 5 second videos tends to overwhelm most people.

    • NιƙƙιDιɱҽʂ@lemmy.world
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      2 hours ago

      New startup: BusGrub.

      You put in an order for what you want and pick a timeslot a few hours in the future. E.g. for dinner, you put your order in at like at like noon and pick a 5-7pm window. Then, approaching your scheduled slot, a bus goes all around the area, picking up every order for that slot in the area, then swings around to each drop-off over the course of like two hours.

      Result: Everyone enjoys cheaper, but gross soggy food.

      Please give me $20 mil starting capital, thanks.

    • bier@feddit.nl
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      7 hours ago

      Not necessarily, if you own a home AND your pay slowly goes up to compensate (both of these unfortunately aren’t happening for a lot of people), relative to your income your mortgage goes down.

      Or in more generic terms, inflation is good if you borrow money.

      • UnderpantsWeevil@lemmy.world
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        3 hours ago

        inflation is good if you borrow money

        at below the rate of inflation

        Inflation going to 2% to 6% when you’ve got a credit card with a 30% APY is of very marginal benefit.

        • NateNate60@lemmy.world
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          11 minutes ago

          Your maths is not right. Inflation, in absolute terms, is a larger benefit to people with higher interest rates.

          Let’s consider the scenario where inflation is 10% for simplicity, and two borrowers who each borrow $100, but Borrower A at 5% annual simple interest and Borrower B at 25% annual simple interest. Both borrowers borrow the money at the beginning of Year 0.

          Borrower A owes $105 in Year 1 dollars at the beginning of Year 1. This is equivalent to $95.45 in Year 0 dollars.

          Borrower B owes $125 in Year 1 dollars at the beginning of Year 1. This is equivalent to $113.64 in Year 0 dollars.

          Compared to a 0% inflation rate, Borrower A saved 9.55 Year 0 dollars and Borrower B saved 11.36 Year 0 dollars. Borrower B saved 1.81 more Year 0 dollars than Borrower B due to inflation (but paid 17.55 Year 0 dollars more overall because of interest).

          • UnderpantsWeevil@lemmy.world
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            2 minutes ago

            Inflation, in absolute terms, is a larger benefit to people with higher interest rates.

            Fair enough. I’m more thinking in a discrete sense… “saving money” versus “owing money”… rather than implicitly how much less are you paying.

        • bier@feddit.nl
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          3 hours ago

          I mean it more like if you would have borred 100K for a house in the 70s that was a lot of money, if you still live in that house you probably paid it back, but even if you didn’t 100K today isn’t that much money anymore

          • UnderpantsWeevil@lemmy.world
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            2 hours ago

            That’s a historically unusual artifact of the financialized housing market in a country where the population outpaces new available housing units while the economy continues to grow.

            Go to Italy or - God forbid - Iraq or Ukraine or Myanmar, and you’ll find record inflation combined with falling real estate values. Buying a home in Lebanon or El Salvador or Bulgaria in 1975 wasn’t a good move. You had to be a certain proximity near the US/EU money printing machines and a distance from the US/Russia bomb dropping machines to get that arbitrage to work.

      • Asetru@feddit.org
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        5 hours ago

        Or in more generic terms, inflation is good if you borrow money.

        If your interest is less than inflation.

        Like my colleague who bought a house for about 1.5% before inflation nearly went to 10. Man.

        • NateNate60@lemmy.world
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          17 minutes ago

          Inflation reduces the real buying power of the money used to repay the loan by the inflation rate each year, regardless of your loan interest.

          In absolute terms, inflation is better the higher your interest rate is, because the number of dollars it saves you goes up.

        • blarghly@lemmy.world
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          2 hours ago

          You are better off regardless of how much your interest rate is, as long as it is fixed. If your mortgage payments are fixed, but your pay increases with inflation, your real monthly mortgage payment goes down over time.

          Eg, if your mortgage is $1000/mo, but at the end of this year a cheeseburger costs $1000, then your mortgage payment is the same cost as a cheeseburger. Doesn’t matter if the interest rate you got originally was 1% or 99%.

        • bier@feddit.nl
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          3 hours ago

          What does that mean? Where I live you borrow a certain amount of money and you pay it back plus interest (in my case 3.5%), and that percentage is fixed for 20 years. In 20 years I expect to have paid most of that entire amount back and my house should be mortgage free

        • Bytemeister@lemmy.world
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          4 hours ago

          Biggest reason why I started paying an extra 1k for housing per month… In 5 years, my crappy “luxury” apartment will cost more per month than my house. In 10 years, people will think it’s insane how cheap my house is per month.

          Or the country could collapse and my property will be worthless, but at that point I got bigger problems.

      • explodicle@sh.itjust.works
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        6 hours ago

        Inflation was added to your mortgage rate. And now that everyone saves with real estate instead of saving money, the cost of real estate is very high.

        So while your payments do go down over time, your hours worked to either rent or own have gone up.

        • bier@feddit.nl
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          3 hours ago

          What do you mean with “inflation was added to your mortgage rate”? The prices of houses do go up but this is mostly a problem for first time buyers, after that your current house has gone up in price too, so that helps with the next house. But if you buy a house and don’t move your mortgage is fixed for 20 or 30 years (unless you go without a fixed rate). So your monthly payment will stay the same, while hopefully your salary goes up.

          • explodicle@sh.itjust.works
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            52 minutes ago

            As in, the rate of inflation was added to the mortgage rate you were offered. This is because tax incidence falls on the less elastic side of each trade, and credit supply is much more elastic than housing demand.

    • Vinstaal0@feddit.nl
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      7 hours ago

      No inflation would mean that we would have no interest on our bank accounts, no wage increases, no profit increases etc. It is part of the circular economy, and it can work according to that theory, but we all together need to reform starting with the massive companies.

          • andros_rex@lemmy.world
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            4 hours ago

            For the longest time on 4chan’s literature board (which was a pretty useful and interesting place overall), there was a guy who would spam pictures and fan fiction of the girl from Willy Wonka getting turned into a blueberry.

            I have weird fetishes, so I don’t judge too much, but wtf.

          • Bytemeister@lemmy.world
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            4 hours ago

            I think you are required to make deflation porn a thing now. It’s like a rule.

            I’m imagining some dude getting sucked off so hard he turns into dust or a raisin.

        • shalafi@lemmy.world
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          1 day ago

          Are you seriously asking for a list of every economic downturn in history?

          When prices drop, unemployment goes up, people can’t buy shit, rinse and repeat.

          • explodicle@sh.itjust.works
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            19 hours ago

            We’ve had inflation as we know it since the 1970s and still had economic downturns since then. Were we simply not printing money hard enough?

          • WraithGear@lemmy.world
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            1 day ago

            I think its more weird that in this situation where the cost of goods is raising faster then even the ’ normal ‘ rate faster then wages… you guys respond with it being preferable to the polar opposite…

            Sure you may be dying of thirst, but it’s better then drowning! Completely ignoring like reason and stuff.

            • 🇰 🌀 🇱 🇦 🇳 🇦 🇰 🇮 @pawb.social
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              1 day ago

              The situations end up exactly the same. Either things cost more than you can afford, or your money ain’t worth shit to be able to afford anything. The only real difference is which number is fucked up: the price of the goods or the value of your money.

              • Doc_Crankenstein@slrpnk.net
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                12 hours ago

                Sounds like an intrinsic flaw of monetary based economics then.

                Maybe we should do something about it? It isn’t like alternatives don’t exist.

          • TropicalDingdong@lemmy.world
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            24 hours ago

            Okay, show me this happening. Because literally every economic crisis I’ve had the privilege to live through, thanks the the Keynesians, the Chicago School of Business types, and Friedmans, has been associated with inflation.

            Show me. Prove it. These economists make claims and don’t have to back them up with empirical data or theories that predict future states of the world.

            I don’t make the assumption something is true because it sounds good and tells a good story. Prove it.

        • NaibofTabr@infosec.pub
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          21 hours ago

          Deflation increases the value of money vs. goods and services. As a consequence, deflation concentrates economic power in the hands of people who already have money.

          If you have debt, deflation increases the value of your debt making it harder to pay off.

          • Fushuan [he/him]@lemmy.blahaj.zone
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            21 hours ago

            Inflation makes goods aka stocks increase value, which makes rich fucks that live on loans be able to then ask another loan for a bigger amount to pay off the loan from before just because their assets passively rose in value.

            It’s the scam by which the ultra rich live by doing absolutely nothing while the rest of us that are saving for a house or whatever see our savings year by year diminished.

            Yeah fuck that.

            • Vinstaal0@feddit.nl
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              7 hours ago

              The issue is that they even get loans when they have no real collateral to give.

              Most people also have savings or a pension fund which is indirectly put into the stock market, that’s how you get interest etc.

  • r00ty@kbin.life
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    1 day ago

    Well inflation IS bad, and at least here is outstripping pay increases for most people.

    But those burrito private taxis are probably one of the few things going up in price more slowly than, you know things you actually need.

    • Case@lemmy.world
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      24 hours ago

      I haven’t gotten a raise in almost 10 years.

      Different companies.

      Moved to a different state.

      Now I just can’t find work period.

      Inflation isn’t the only problem.

      • Im_old@lemmy.world
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        24 hours ago

        I am really sorry. I know how shit it feels being out of work. If you want to vent I’m here.

  • Endymion_Mallorn@kbin.melroy.org
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    1 day ago

    I mean, both. Frivolous personal spending is bad. Inflation is bad. These two things are both bad, but not in scale. It’s possible to say “Uber Eats is a waste of money”, “Uber is a greedy corporation extracting money without value”, “Corporate taxation has affected prices in a way that’s negative to the consumer”, and “Inflation and trade instability have made it harder to have the lifestyle we expect”.

    None of those are contradictory. Some can be changed on a personal level. Some need greater influence involved.