I've waited a long time to write this post. I wanted to wait until my blood stopped boiling from another post I read written by someone else some place else. You know who you are.
I waited because I didn't want to be overly emotional but I reckon that even after waiting this long that is going to be hard to do.
Sure there are people out there who live beyond their financial means and use their credit cards when they should be using cash. They buy houses they can't afford and Starbucks every morning instead of their utilities every month. They overindulge their children with expensive toys never teaching those children the value of money. These people are irresponsible and should suffer the consequences of their bad decisions.
These are not the vast majority of people suffering from the current economic landscape.
The people suffering are those who have managed their money carefully making sure to put away a little bit each month into their emergency fund for a rainy day and a little bit more towards their retirement fund. But the fact that wholesale gas prices have risen from $25/barrel to over $120 in just 5 years has meant that you have to make a decision to pay either the gas or the electricity because you simply can't afford both. The same price increase has meant that people can't afford to fill up their cars with fuel to get to work. and don't give me that nonsense about go buy a car that gets better gas mileage. If they had the money to buy a new car they'd pay their gas and electricity. and the increase of food prices at the grocery store have risen by over 7% in 6 months have meant that their food bill has gone up so dramatically they no longer have money for retirement or rainy days. They struggle to pay a mortgage on a home they've paid for 10 years due to the misguided attempt to control inflation with interest rate manipulation.
You can live in your big cushy house with your big salary smiling that smug smile whilst you look down on those who have less than you warm with the feeling that you currently reside at the top of the economic pyramid. I hope that you never lose your job particularly as you get older and the younger generation proves your ideas old fashioned, skills obsolete and your experience irrelevant. I hope your family is blessed with good health and no one close to you is critically injured or diagnosed with a terminal illness not covered by your medical insurance or for which there is no cure. Heaven forbid you even find yourself in the middle of the pyramid because the path from the middle to the bottom appears to be getting shorter every day.
In the meantime I am looking for pennies in the sofa.