The reality of your subscription fee for FFXI

[Alhanelem]

$12 today is worth 36% less than it was 18 yeas ago in real terms.

I should clarify this point you're making. The Federal Reserve has an inflation target of 2% per year. I.e. if it's higher than that, they apply measures to try to bring it back down. But it's usually considerably lower than 2% most years. So 18 years doesn't really mean 36 percent.

Even this last year with all the free money the government has printed for economic impact payments, our inflation rate over the last year has held near 2%. The US can actually print a remarkable amount of money before inflation is significantly affected.

[Pixela]

We are headed for hyper inflation, you have more trust in the fed / central banking system and politicians than I do. The next 4-8 years are going to be economically catastrophic in many ways.

[Zehira]

I agree. I don't support stimulus checks. If they are still going to get them then okay. Make me more money. Money money money. I didn't buy GameStop I lost enough money trading AMC. We stay at home playing money during the COVID.

Thank you Elon Musk for the money. Dogecoins.

I own my three accounts for FFXI and two accounts for FFXIV and I should pay more unless we are being taxed to death.

[Alhanelem]

We are headed for hyper inflation, you have more trust in the fed / central banking system and politicians than I do. The next 4-8 years are going to be economically catastrophic in many ways.

There is really no evidence for this kind of postulation. Countries that experienced a hyperinflation printed many times more money than their entire country was worth, and responded to the resulting problem by printing many times more money. That's not what's happening here. The Fed has many tools at their disposal to control inflation.

Remember, under normal circumstances, they try to maintain a 2% rate of inflation. It's usually lower than that and they implement measures to increase it, because extremely low inflation leads to stagnant industry growth. As I said before, even with the aid packages the government has doled out, we're still not anywhere near what could be called "hyperinflation."

To be clear, I'm not a big fan of more free money either. It should be more targeted. I work in a supermarket and financially, life is better for me than it's ever been because of a labor shortage in the sector combined with hazard pay due to the virus. The stimulus money for me is just going to things I want as my needs are better taken care of than ever (aside from the risk of getting the virus at work...). I don't trust the politicians much at all, but the federal reserve does its own thing and I have considerably more confidence in them.

While it's cool in a way to get a check from the gov't, I certainly don't need it, and I'm not in any way a rich person. If they're going to print the money anyway, give it to someone who needs it to survive.

[Pixela]

The amount of currency in circulation has literally doubled in the past year, doubled. This isn't even the end of it either, they are going to keep doing it. This is unheard of.

All this money the governments are giving to people, they are literally printing new money like never before. It's not current "real" money they are giving people, they are printing new money to give to people. They are playing monopoly with a laser printer.

The reason we aren't feeling it yet is because people aren't spending normally normally due to covid lockdowns, once people start spending money again it's going to explode. I worry this is part of the reason they are afraid to lift restrictions.

Ultimately we will see I suppose but I'm not hopeful they will be able to control this, if I was conspiracy minded I would think this is being done intentionally to bring in a new type of worldwide digital currency. What they are doing is that crazy.

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My main issue here with inflation at this level as I said isn't so much about normal life. I was pointing out that most MMO players do not understand inflation and will be furious if they are forced to "increase prices". Most people do not understand inflation / deflation and just see a price increase as a price increase.

They think $20 today (or next year) is worth the same as it was last year.

[Zehira]

If you know how cryptos are working, you are not losing money. Cryptos also are much easier than the stock market because you don't need to research you only know your math.

I have to say... It's not normal because I could make more money than a doctor's salary. Over 3,000% profit since Jan 3.

[Pixela]

Problem with putting all your eggs in the cryto basket is they could literally ban it overnight and replace it with their own national or international versions run by governments, or at least work towards it.

Other countries are already headed that way.

[Zehira]

Very possible. I already sold most of coins and will never go down so I won't be mad if I am losing so much money. I don't recommend cryptos unless you do at your own risk.

[Alhanelem]

Problem with putting all your eggs in the cryto basket is they could literally ban it overnight and replace it with their own national or international versions run by governments, or at least work towards it.

Other countries are already headed that way.

It could also literally crash overnight. Even though it's still higher now than it's ever been, it still has ups an downs.

[Zehira]

Dogecoin to the moon!

So far it is still doing good. Maybe worth if you want to invest in Dogecoin and HODL for a long term gain so you won't be taxed.