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Inflation is cutting into the spending power of all. Because folks seem to find it difficult to cut back on purchases, racking up more credit card debt seems to be the "go to" solution. The only real winners in that scenario are those in the lending industry.
The old adage of "if you don't have it, don't spend it..." only works for part of the problem when factoring in essentials like gasoline, utilities, doctor bills, medicine, schooling, housing and clothing. Some cuts can and should be made: energy usage, premium grocery store items, entertainment, media costs, travel and on-line shopping. In reality, the rising costs of necessities is more likely to push folks to their credit cards, compounding the problem for the long run.
Some folks seem to think that the federal and state governments can fix the entire inflation problem, and they can on the parts to which they contribute. The bigger inflationary parts lay in the national retail and service areas which boils down to one word: GREED! (I can not help to think that the reporting of national and global emergencies are falsely warranting raising costs, enabling price gouging by unscrupulous businesses!)
There seems to be a "land office rush" by vendors to grab their part of the "pseudo wealth" available in our currently deceptive cash glut economy! The problem is that folks are running out of cash and that's with the US treasury cranking the money printing press as fast as possible: 24/7/365! Are there viable solutions? You bet!
Cut personal sending to essential bare bones, conserve, pay off credit debt and work to be more self reliant and make it stretch. Spend locally and stop feeding the mega corporation's coffers. Folks need to refocus on what is truly important in their lives and not be manipulated by forces wanting only their money. Endless spending is unsustainable, even with easily available credit; a lesson we must learn, specially by our governing bodies.
It's during times like these that revisiting famous words of wisdom may bring solace. The list of Mahatma Gandhi's seven deadly sins come to mind:
1. Wealth without work
2. Pleasure without conscience
3. Knowledge without character
4. Commerce without morality
5. Science without humanity
6. Worship without sacrifice
7. Politics without principles
As an American society, we can do better and not rely on outside entities to do for us things we are unwilling to do for ourselves. There are examples of "boot strap" individuals and organizations within our communities that model these principles through example. Follow their leads. It's time to get our collective "heads out of the sand" and take action!
Bob Dunkerley
Elkins