With hyperinflation. Most businesses won’t be able to afford the imports to produce their product let alone afford to be anyone a living wage. Most medium to small businesses will shut their doors and lay off all their employees
Also, hyperinflation destroys the buying power of the currency; very few people will have "disposable" income and many will have NO income at all, so almost any retail business will suffer. Who's gonna go out to eat, or buy a new anything when prices are 50X higher than last month and income is stagnant or completely gone?
Exactly. This is my concern as we've never had disposable income with 6 kiddos, one income, but we are frugal, and have a mini farm/Homestead, and 80 acres hunting ground, and we have prepped to some degree. Hubby's work is finally picking up after almost total shutdown since late Nov.
Not to mention the Saudis, Russkies, Iraq, Algeria, Kuwait, Oman, all major oil producers have apparently announced they are slashing oil production from May-December. And the sock puppet in the whitehouse is unlikely to open up more land for drilling.
So expect Gas Prices to skyrocket which will probably thoroughly gut the handful that survive the economic shitstorm.
Well if it costs me $100 in fuel to drive to work per day (hyperinflation) but I'm only paid $100 for that days work, why would I keep doing it?
It would be impossible to find work that paid at the same rate as inflation, making all work performed and paid a net negative for the worker given cost of living increase.
Why high unemployment?
With hyperinflation. Most businesses won’t be able to afford the imports to produce their product let alone afford to be anyone a living wage. Most medium to small businesses will shut their doors and lay off all their employees
Also, hyperinflation destroys the buying power of the currency; very few people will have "disposable" income and many will have NO income at all, so almost any retail business will suffer. Who's gonna go out to eat, or buy a new anything when prices are 50X higher than last month and income is stagnant or completely gone?
Exactly. This is my concern as we've never had disposable income with 6 kiddos, one income, but we are frugal, and have a mini farm/Homestead, and 80 acres hunting ground, and we have prepped to some degree. Hubby's work is finally picking up after almost total shutdown since late Nov.
Not to mention the Saudis, Russkies, Iraq, Algeria, Kuwait, Oman, all major oil producers have apparently announced they are slashing oil production from May-December. And the sock puppet in the whitehouse is unlikely to open up more land for drilling.
So expect Gas Prices to skyrocket which will probably thoroughly gut the handful that survive the economic shitstorm.
Any thoughts on which job types would NOT suffer? For lockdown certain job types were considered essential. Is there an essential for this case?
Police. 🤠
Well if it costs me $100 in fuel to drive to work per day (hyperinflation) but I'm only paid $100 for that days work, why would I keep doing it?
It would be impossible to find work that paid at the same rate as inflation, making all work performed and paid a net negative for the worker given cost of living increase.