Things certainly are changing a great deal. Cryptocurrency is offering a new path forward. Hive is already changing lives. As mentioned there are people living off Splinterlands.
One thing to keep in mind about the retirement discussion, which most overlook, is the fact we are in a major technological age. This means that, by definition, we are going to see deflationary forces only increasing over the next couple decades. Depending upon the time line, most will be able to retire on far less than a million dollars since they are going to see the costs of transportation, housing, and, finger crossed, healthcare all plummet as technology invades those areas.
It is the unique position where incomes can rise due to cryptocurrency and all the related tentacles while technology pushes down costs for most of the basics.
Posted Using LeoFinance Beta
I am glad you mentioned deflation. Just a few min back, I was casually listening to the 'inflation talk' at the 7.5% headline number reported at the market open and people are saying sky is falling!! It is to the contrary. If you look at Japan you should know what deflation does to a society. It is deflation we need to worry about not inflation (in the US at least)!
That is absolutely correct. People complain about inflation, thus believing that deflation is much preferred. They do not realize that the inventors of QE, Japan, are mired in a 25 year deflationary spiral. If Central Bank policy actually led to inflation, they should be at 80% with all they did.
We are seeing cyclical inflation due to supply chain disruption along with a bull market in commodities. However, we are in a secular deflationary cycle, one that started more than 20 years ago.
Communication, information, music, and video all deflated. We are about to see transportation, medical, upper level education, and construction experience similar paths.
The other factor is developed countries have a major demographic crisis brewing. This is also inflationary.
Thanks for the inflation number. I had not seen it yet but figured it would go up. The BLS changed how this are determining it which was going to push it higher. They are weighing things different suddenly.
Posted Using LeoFinance Beta
https://www.visualcapitalist.com/global-debt-to-gdp-ratio/
257% debt to gdp ratio! Several generation of folks completely demotivated from investing.
China is reported to now be over 300%. Hard to know since their numbers are even more fictitious than most governments.
A lot of European countries on there. The non EU banks wont touch European debt from what I hear. The EU is in really rough shape.
Posted Using LeoFinance Beta