Our Universe - Gravity Creates Light

A star is being consumed by a distant supermassive black hole. Astronomers call this a tidal disruption event (TDE). As the black hole rips apart the star, two jets of material moving with almost the speed of light are launched in opposite directions. One of the jets was aimed directly at Earth. Image credit: Carl Knox (OzGrav, ARC Centre of Excellence for Gravitational Wave Discovery, Swinburne University of Technology)

Physicists Discover that Gravity Can Create Light
Researchers have discovered that in the exotic conditions of the early universe, waves of gravity may have shaken space-time so hard that they spontaneously created radiation.

The physical concept of resonance surrounds us in everyday life. When you’re sitting on a swing and want to go higher, you naturally start pumping your legs back and forth. You very quickly find the exact right rhythm to make the swing go higher. If you go off rhythm then the swing stops going higher. This particular kind of phenomenon is known in physics as a parametric resonance.

Your legs act as an external pumping mechanism. When they match the resonant frequency of the system, in this case your body sitting on a swing, they are able to transfer energy to the system making the swing go higher.

These kinds of resonances happen all over the place, and a team of researchers have discovered that an exotic form of parametric resonance may have even occurred in the extremely early universe.

Perhaps the most dramatic event to occur in the entire history of the universe was inflation. This is a hypothetical event that took place when our universe was less than a second old. During inflation our cosmos swelled to dramatic proportions, becoming many orders of magnitude larger than it was before. The end of inflation was a very messy business, as gravitational waves sloshed back and forth throughout the cosmos.  READ MORE...

Multiverse Theory

Multiverse theory suggests that our universe, with all its hundreds of billions of galaxies and almost countless stars, spanning tens of billions of light-years, may not be the only one. Instead, there may be an entirely different universe, distantly separated from ours — and another, and another. 

Indeed, there may be an infinity of universes, all with their own laws of physics, their own collections of stars and galaxies (if stars and galaxies can exist in those universes), and maybe even their own intelligent civilizations.

It could be that our universe is just one member of a much grander, much larger multitude of universes: a multiverse.  The concept of the multiverse arises in a few areas of physics (and philosophy), but the most prominent example comes from something called inflation theory. 

Inflation theory describes a hypothetical event that occurred when our universe was very young — less than a second old. In an incredibly brief amount of time, the universe underwent a period of rapid expansion, "inflating" to become many orders of magnitude larger than its previous size, according to NASA.

Inflation of our universe is thought to have ended about 14 billion years ago, said Heling Deng, a cosmologist at Arizona State University and an expert in multiverse theory. "However, inflation does not end everywhere at the same time," Deng told Live Science in an email. "It is possible that as inflation ends in some region, it continues in others."

Thus, while inflation ended in our universe, there may have been other, much more distant regions where inflation continued — and continues even today. Individual universes can "pinch off" of larger inflating, expanding universes, creating an infinite sea of eternal inflation, filled with numerous individual universes.

In this eternal inflation scenario, each universe would emerge with its own laws of physics, its own collection of particles, its own arrangement of forces and its own values of fundamental constants. This might explain why our universe has the properties it does — particularly the properties that are hard to explain with fundamental physics, such as dark matter or the cosmological constant, Deng said.

"If there is a multiverse, then we would have random cosmological constants in different universes, and it is simply a coincidence that the one we have in our universe takes the value that we observed," he said.   READ MORE...

Hot Inflation Will Wipe Out Most

With price levels continuing to spike, the Fed is no longer using the word ‘transitory’ to describe inflation.

U.S. consumer prices jumped 7.7% in October from a year ago, still hovering near the the highest levels since the early 1980s. Food and energy are still spiking at a historic pace, which could give the Fed more reason to keep raising interest rates.

It’s a vicious cycle criticized by many investing veterans. And Rich Dad, Poor Dad author Robert Kiyosaki is one of the latest experts to sound the alarm.

“When inflation goes up, we’re going to wipe out 50% of the U.S. population,” he told Stansberry Research earlier this month.

Let’s take a closer look at what Kiyosaki means by that.  READ MORE...

Inflation Wipes Out Retirement Savings

Inflation has taken an average of 25 percent - at least $2.1trillion - off the 401Ks of American workers, despite President Joe Biden's insistence Sunday that the 'economy is strong as hell.'

The analysis was done by conservative economists Stephen Moore and EJ Antoni, who said that the balance of Americans' 401ks will 'ruin your whole day, week and month.'

Moore and Antoni note that inflation has been going at 8 percent for the past seven months, despite the White House claiming things were temporary.  READ MORE...

Only One Way Out of Inflation

Jerome Powell - Bank of America

Severe recession needed to cool inflation, Bank of America analysts say

Bank of America: 'Sticky' inflation could take some time to come down

FOX BUSINESS REPORTS...

The only way to cool down inflation is with a recession...  economists define a recession as a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

In this case, SEVERE means intense and longer than normal...  whatever normal is because in an economic sense normal is a flexible variable and difficult to define when situations occur that are different than expectations...

This means a recession could last for the next two years of the Biden Administration...  and, if our recession is this severe then you should expect lots and lots of layoffs, a reduction of goods and services to the marketplace resulting in much higher prices.  The Fed will continue to raise interest rates making it rather difficult for individuals, families, businesses, and corporations to borrow money.  These higher rates will apply to ALL LOANS and MORTGAGES.

Our Gross Domestic Product (GDP) will decline which means our economy will decline...  and, as our economy declines then the value of our dollar will decline as well.

• Businesses will spend less
• Consumers will spend less
• Banks will loan less money
• Unemployment will increase
• The Govt might extend unemployment benefits
• If the govt spends more our debt will increase
• Businesses will not expand operations
• Businesses will not invest in future technology
• Businesses will not be globally competitive
• States will reduce services
• Cities will reduce services
• Illegal immigration will deplete resources
• Crime and violence will increase

REMEMBER:  it was not Trump's policies that caused this to happen...  it was Joe Biden's policies that caused this to happen, starting with his attack on the OIL INDUSTRY...

What we are experiencing are the UNINTENDED CONSEQUENCES OF THE DEMOCRATS...

Saving During Inflation

When it comes to spending power, inflation means that things cost more and that your money becomes less valuable. When a period of high inflation hits — like right now — you may want to consider changing up the way you handle your finances to help protect the value of your cash.

“Inflation is a time for investors and savers to reevaluate their strategies,” says Walter Russell, CEO of financial adviser firm Russell and Company.

Through the Federal Reserve, the government tries to combat inflation on a large scale by raising the federal funds rate, which is the interest rate that commercial banks use to borrow and lend money to each other.

When the cost of borrowing becomes more expensive, higher interest rates trickle down to consumer products such as loans and mortgages, making them more expensive. But higher interest rates may also apply to deposit accounts, meaning that banks start to offer higher interest rates on checking, savings and certificates of deposit.

No one knows what the future will bring, but by making changes to how you spend and where you keep your money, you may be able to weather times of inflation more easily.

Here are some ways to save more during periods of inflation.

Look for high-yield interest rates
It can be frustrating to not be able to get loans for big purchases as easily during periods of high inflation. Still, consumers can take advantage of higher interest rates on bank accounts to fight the effects of inflation on their cash. Bank account interest rates usually don’t totally beat the rate of inflation, but these accounts can help hedge against inflation far better than keeping cash at home or in a low-rate account.

The national average annual percentage yield for savings accounts is 0.06%, according to the Federal Deposit Insurance Corporation, but there are plenty of financial institutions that offer rates that are much higher — some even 1.00% APY or more. To find these rates, you can research high-yield or high-interest accounts and choose the bank that works best for you.

Find ways to keep costs low
If you haven’t looked over your budget in a while, now may be a good time. During the pandemic, you may have subscribed to multiple streaming services that you don’t use anymore, or you might be spending more money dining out or paying for more convenience services now.

Some people are taking even more radical steps to save money. Amanda Claypool , a financial blogger based in upstate New York, has recently made larger lifestyle changes to keep her costs low in the face of inflation. She spent 2021 living out of her car while driving around the country and plans to return to that way of living soon to save on housing costs. She’s also been trying to trim her budget by biking 16 miles round-trip to work and by eating more rice and beans, a cheap but healthy meal.  READ MORE...

Backwards in Time

A wild new theory suggests there may be another "anti-universe," running backward in time prior to the Big Bang.  The idea assumes that the early universe was small, hot and dense — and so uniform that time looks symmetric going backward and forward.

If true, the new theory means that dark matter isn't so mysterious; it's just a new flavor of a ghostly particle called a neutrino that can only exist in this kind of universe. And the theory implies there would be no need for a period of "inflation" that rapidly expanded the size of the young cosmos soon after the Big Bang.

If true, then future experiments to hunt for gravitational waves, or to pin down the mass of neutrinos, could answer once and for all whether this mirror anti-universe exists.

Preserving symmetry
Physicists have identified a set of fundamental symmetries in nature. The three most important symmetries are: charge (if you flip the charges of all the particles involved in an interaction to their opposite charge, you'll get the same interaction); parity (if you look at the mirror image of an interaction, you get the same result); and time (if you run an interaction backward in time, it looks the same).

Physical interactions obey most of these symmetries most of the time, which means that there are sometimes violations. But physicists have never observed a violation of a combination of all three symmetries at the same time. If you take every single interaction observed in nature and flip the charges, take the mirror image, and run it backward in time, those interactions behave exactly the same.

This fundamental symmetry is given a name: CPT symmetry, for charge (C), parity (P) and time (T).

In a new paper recently accepted for publication in the journal Annals of Physics, scientists propose extending this combined symmetry. Usually this symmetry only applies to interactions — the forces and fields that make up the physics of the cosmos. But perhaps, if this is such an incredibly important symmetry, it applies to the whole entire universe itself. In other words, this idea extends this symmetry from applying to just the "actors" of the universe (forces and fields) to the "stage" itself, the entire physical object of the universe.

Creating dark matter
We live in an expanding universe. This universe is filled with lots of particles doing lots of interesting things, and the evolution of the universe moves forward in time. If we extend the concept of CPT symmetry to our entire cosmos, then our view of the universe can't be the entire picture.

Instead, there must be more. To preserve the CPT symmetry throughout the cosmos, there must be a mirror-image cosmos that balances out our own. This cosmos would have all opposite charges than we have, be flipped in the mirror, and run backward in time. Our universe is just one of a twin. Taken together, the two universes obey CPT symmetry.

The study researchers next asked what the consequences of such a universe would be.  They found many wonderful things.  READ MORE...

Top Problem is INFLATION Since 1985

The share of Americans who rate inflation as the top issue facing the country is at the highest in nearly 40 years, according to a Gallup poll released Tuesday.

About one in five Americans, or 17%, surveyed March 1-18 cited inflation as the nation’s most important problem. That’s up from 10% in February, and compares with 4% who pointed to fuel prices in particular.

U.S. consumer prices are rising at the fastest pace in four decades, outpacing wage gains and fanned further by Russia’s war in Ukraine. Gas prices are near record highs -- well over $4 a gallon nationwide -- especially straining lower-income families.

Among those polled -- a little over 1,000 U.S. adults -- 22% say the government is the top problem outside of the economy, while 9% cited the war in Ukraine. The share citing the coronavirus fell to the lowest level since the pandemic began.

Similar to a University of Michigan survey -- which showed U.S. consumer sentiment remained at a decade low in March -- inflation concerns diverge sharply from a political perspective. Nearly 80% of Republicans are worried about inflation, more than double the proportion of Democrats, according to Gallup.   SOURCE:  Bloomberg      READ MORE...

Kamala Harris Says...

FOX NEWS REPORTS...

Kamala Harris blasted for claiming 'voters got what they asked for' in electing her, Biden

'No one asked for the Democrats' soaring inflation'

Vice President Kamala Harris was blasted by critics Monday for claiming during a speech at the White House that American voters "got what they asked for" when they elected her and President Biden.

Harris made the claim during a celebration for Black History month when she took a moment to celebrate Biden's nomination of Judge Ketanji Jackson to be the first Black woman to sit on the Supreme Court.


"I felt such pride and such hope this past Friday when President Joe Biden nominated Judge Ketanji Brown Jackson," Harris told those gathered for the event. "Because as we all know, elections matter. And when folks vote, they order what they want, and in this case they got what they asked for."

"I went off script a little bit," Harris added, laughing.

Critics jumped to social media to blast Harris, with some listing what they saw as the administration's numerous failures, and others predicting a defeat for Democrats in the November midterm elections.

"The American people didn’t ask for any of this: Record Inflation, Record border crisis, Closed schools. A war on American energy, Afghanistan disaster, Russia invasion of Ukraine," wrote Sen. Ted Cruz, R-Texas, while former White House press secretary and Arkansas gubernatorial candidate Sarah Sanders called the Biden administration a "complete and total failure."  READ MORE...

What is Inflation?

How do you measure inflation?

Statistical agencies start by collecting the prices of a very large number of goods and services. In the case of households, they create a “basket” of goods and services that reflects the items consumed by households. The basket does not contain every good or service, but the basket is meant to be a good representation of both the types of items and the quantities of items households typically consume.

Agencies use the basket to construct a price index. First, they determine the current value of the basket by calculating how much the basket would cost at today’s prices (multiplying each item’s quantity by its price today and summing up). Next, they determine the value of the basket by calculating how much the basket would cost in a base period (multiplying each item’s quantity by its base period price). The price index is then calculated as the ratio of the value of the basket at today’s prices to the value at the base period prices. 

There is an equivalent but sometimes more convenient formulation to construct a price index that assigns relative weights to the prices of items in the basket. In the case of a price index for consumers, statistical agencies derive the relative weights from consumers’ expenditure patterns using information from consumer surveys and business surveys. We provide more details on how a price index is constructed and discuss the two primary measures of consumer prices—the consumer price index (CPI) and the personal consumption expenditures (PCE) price index—in the Consumer Price Data section.

A price index does not provide a measure of inflation—it provides a measure of the general price level compared with a base year. Inflation refers to the growth rate (percentage change) of a price index. To calculate the rate of inflation, the statistical agencies compare the value of the index over some period in time to the value of the index at another time, such as month to month, which gives a monthly rate of inflation; quarter to quarter, which gives a quarterly rate; or year to year, which gives an annual rate.

In the United States, the statistical agencies that measure inflation include the Bureau of Economic Analysis (BEA) and the Bureau of Labor Statistics (BLS).

Why are there so many different price indexes and measures of inflation?
Different groups typically care about the price changes of some items more than others. For example, households are particularly interested in the prices of items they consume, such as food, utilities, and gasoline, while commercial companies are more concerned with the prices of inputs used in production, like the costs of raw materials (coal and crude oil), intermediate products (flour and steel), and machinery. Consequently, a large number of price indexes have been developed to monitor developments in different segments of an economy.

The most broad-based price index is the GDP deflator, as it tracks the level of prices related to spending on domestically produced goods and services in an economy in a given quarter. The CPI and the PCE price index focus on baskets of goods and services consumed by households. The producer price index (PPI) focuses on selling prices received by domestic producers of goods and services; it includes many prices of items that firms buy from other firms for use in the production process. There are also price indexes for specific items such as food, housing, and energy.

What is "underlying" inflation?
Some price indexes are designed to provide a general overview of the price developments in a broad segment of the economy or at different stages of the production process. Because of their comprehensive coverage, these aggregate (also called “total,” “overall,” or “headline”) price indexes are of considerable interest to policymakers, households, and firms. However, these measures by themselves do not always give the clearest picture of what the “more sustained upward movement in the overall level of prices,” or underlying inflation, happens to be. 

This is because aggregate measures can reflect events that are exerting only a temporary effect on prices. For example, if a hurricane devastates the Florida orange crop, orange prices will be higher for some time. But that higher price will produce only a temporary increase in an aggregate price index and measured inflation. Such limited or temporary effects are sometimes referred to as “noise” in the price data because they can obscure the price changes that are expected to persist over medium-run horizons of several years—the underlying inflation rate.

Underlying inflation is another way of referring to the inflation component that would prevail if the transitory effects or noise could be removed from the price data. From the perspective of a monetary policymaker, it is easy to understand the importance of distinguishing between temporary and more persistent (longer-lasting) movements in inflation. 

If a monetary policymaker viewed a rise in inflation as temporary, then she may decide there is no need to change interest rates, but if she viewed a rise in inflation as persistent, then her recommendation might be to raise interest rates in order to slow the rate of inflation. Consumers and businesses can also benefit from differentiating between temporary and more persistent movements in inflation. For these reasons, a number of alternative measures have been developed to measure underlying inflation.  READ MORE...

US Prices Rise the Fastest in 40 YEARS

FROM THE BBC...


Prices in the US are rising at their fastest rate in almost 40 years, with inflation up 7% year-on-year in December.

Strong demand and scarce supply for key items such as cars are driving the increases, which are putting pressure on policymakers to act.

The US central bank is expected to raise interest rates this year.

The rise in borrowing costs is aimed at reducing demand by making purchases such as cars more expensive.

December's increase marked the third month in a row that the US annual inflation rate has hovered above 6% - well north of policymakers' 2% target. The last time the pace of inflation exceeded that level was 1982.

Housing costs were up 4.1% year-on-year, while the cost of groceries rose 6.5% - compared to a 1.5% annual average over the last 10 years.

Wednesday's report from the Labor Department showed signs that some of the pressures may be easing.

The cost of energy dropped 0.4% from November to December - its first decline since April. But over 12 months energy costs are up by nearly 30% and have returned to their upward trend in recent days.

"Overall, this is every bit as bad as we expected," Paul Ashworth, chief economist at Capital Economics, said of the December inflation report.

Reacting to the latest report, President Joe Biden said that it "demonstrates that we are making progress in slowing the rate of price increases".

He added that there is "more work to do" in the US and noted that "inflation is a global challenge, appearing in virtually every developed nation as it emerges from the pandemic economic slump".

The price pressures occurring in the US have been seen to varying degrees around the world.

The Organisation for Economic Cooperation and Development, which represents more than 30 of the world's largest economies, said this week that inflation among its members had hit its highest rate in 25 years in November.  READ MORE.

Rolling Back US-China Tariffs

Eliminating tariffs imposed on goods during the worst of the trade war would help ease inflation in the U.S., former Treasury Secretary Jacob Lew told CNBC on Tuesday.But there’s currently “no political space” to do so, he said on CNBC’s “Street Signs Asia.”

“I think that the United States and China have deep differences. I’ve never thought it should just be about negotiating the exchange of one good or another on one side or the other. It should be about a level playing field,” Lew said. He served as treasury secretary from 2013 to 2017 during the Obama administration.

He continued: “I’ve thought from the beginning that the tariffs were an ineffective way to deal with their attacks on American consumers. And right now, with inflation being an issue, rolling back tariffs would actually reduce inflation in the United States.”

Relations between Washington and Beijing took a turn for the worse in 2018, when the Trump administration imposed tariffs on billions of dollars worth of Chinese goods and Beijing retaliated with similar punitive measures, drawing both sides into a protracted trade war.

U.S. tariffs on Chinese goods stood at an average of 19.3% on a trade-weighted basis in early 2021, while Chinese tariffs on American products were at about 20.7%, according to data compiled by think tank Peterson Institute for International Economics earlier this year.

Before the trade war, U.S. tariffs on Chinese goods were on average 3.1% in early 2018 while China’s tariffs on American goods were at 8%, the data showed.

Referring to rolling back tariffs, Lew said: “Both the leaders have to, I think, create political space in our two countries for these issues to be issues where you can move and make progress, because otherwise we either stay where we are. It gets worse. I think we can do better.”  READ MORE...

Inflation

The Consumer Price Index increased from 5% to 6% over the last month...

The Consumer is spending more for:

• gasoline
• food
• clothes
• personal items

Why do we even have inflation?

When there is more money in the marketplace than there are supplies or items to purchase, then the price of those supplies and items will increase...

This is economics 101.

Another way to look at this...

If there are more people looking for work than there are jobs available then the salary paid for those workers will decrease...

If, on the other hand, there are fewer people looking for work than there are jobs available, then the salary paid for those workers will increase...

ANYTIME prices increase, we are experiencing INFLATION.

We are paying about $1 more per gallon of gasoline than we were paying a year ago.

That means you are paying about $15 more for a tank of gasoline than you were last year.

If you purchase a tank of gasoline each week, then gasoline costs to you over a year's period of time will increase by $780...

Now...

if you pay more for gasoline and more for food and more for other items, then your cost of living could increase by $2,500 over the next year....

How is inflation influencing your LIFE???

A Recession Looms

The U.S. economy appears to be sliding into another recession based on declining consumer sentiment – even though employment and wage growth suggest otherwise, according to two academic economists.

New research published last week by David Blanchflower of Dartmouth College and Alex Bryson of the University College London suggests that consumer expectations indexes from the Conference Board and the University of Michigan tend to predict economic downturns up to 18 months in advance in the U.S.

BIDEN'S PROPOSED 39.6% TAX HIKE WOULD HIT THESE INDIVIDUALS, FAMILIES

Every recession since the 1980s has been precipitated by at least a 10-point drop in the expectations indices, they found. Other reliable indicators include a single monthly rise of at least 0.3 percentage points in unemployment and two consecutive months of employment rate declines.

"The economic situation in 2021 is exceptional, however, since unprecedented direct government intervention in the labor market through furlough-type arrangements has enabled employment rates to recover quickly from the huge downturn in 2020," Blanchflower and Bryson wrote. "However, downward movements in consumer expectations in the last six months suggest the economy in the United States is entering recession now (Autumn 2021)."

G-7 LEADERS HAMMER OUT A GLOBAL MINIMUM TAX FOR MULTINATIONAL COMPANIES

The Conference Board’s gauge of expectations declined in September to the lowest since November last year, marking the third consecutive month of declines. At the same time, the University of Michigan's gauge actually increased last month.

The economists highlighted data suggesting the Conference Board expectations peaked in March 2021 and then fell by 26 points through September 2021. The Michigan data, meanwhile, likely peaked in June 2021 and fell by 18 points by August, they found. 

TO READ MORE ABOUT THIS POTENTIAL RECESSION, CLICK HERE...

On the Horizon

WHAT DOES INFLATION MEAN? 

Inflation is the decline of purchasing power of a given currency over time. A quantitative estimate of the rate at which the decline in purchasing power occurs can be reflected in the increase of an average price level of a basket of selected goods and services in an economy over some period of time.

WHAT CAUSES INFLATION?
Inflation is a measure of the rate of rising prices of goods and services in an economy. Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product.

IS INFLATION GOOD OR BAD?
Inflation erodes purchasing power or how much of something can be purchased with currency. Because inflation erodes the value of cash, it encourages consumers to spend and stock up on items that are slower to lose value. It lowers the cost of borrowing and reduces unemployment.

For the most part, inflation is not good unless wages increase proportionately...  but, if that happens, then economics say that there is no inflation...  just a steady economic growth which is a win/win situation for everyone.

But, if prices increase and wages do not, then people pay more for the goods and services they have to have and do not partake in the goods and services that they do not really need...  This causes the economy not to grow.

From my perspective as a retired individual, I don't give a rat's ass if the economy grows or not as long as prices do not increase...  And, yes that is a selfish point-of-view but I would suspect most people do not want prices to go up and if anyone wants their taxes to go up needs to take their head out of their ass or purchase an inflated price glass bellybutton so that they can see better.

We Are Blessed Americans

 Americans should feel BLESSED that Joe Biden beat out Donald
Trump to become the current President of the US...

• We have a crisis with immigration
• We have a crisis with inflation
• We have a crisis with gasoline
• We have a crisis with cyber crime/hacking
• We have a crisis with Hamas
• We have a crisis with Russia
• We have a crisis with China's military escalation
• We have a crisis with systemic racism
• We have a crisis with defunding the police
• We have a crisis with illegal drug use
• We have a crisis with disabled veterans
• We have a crisis with healthcare
• We have a crisis with education
• We have a crisis with a DIVIDED America

Let me say it again, AMERICANS SHOULD FEEL BLESSED THAT JOE BIDEN IS OUR CURRENT PRESIDENT...

The real question here is:  DOES BIDEN HAVE THE MOUNTAIN OYSTERS TO TAKE ON RUSSIA, CHINA, THE MIDDLE EAST, AND OUR OWN TECH GIANTS...  ALONG WITH THE INCREASING WEALTH DISPARITY BETWEEN WEALTHY AMERICANS AND EVERYONE ELSE???

My fear is that he does not have those mountain oysters...  nor does he have the rhetoric to unite the two parties which will continue to divide this country politically.

Inflation B Good

Because of all the spending by our Federal Government, the US inflation rate has increased to 3% and is expected to increase and possibly stabilize at 4% which is incredibly good news for ALL AMERICANS because it means that Americans will be paying more for goods and services, leaving them less and less money to save or spend on other necessities...  should the occasion arise.

• More for gasoline
• More for food
• More for clothes
• More for medicine
• More for electricity

With this kind of inflation, unemployment insurance payouts will not last as long as it did before with this kind of inflation and it is this kind of inflation that financially hurts older senior citizens who are living only on Social Security without any other sources of income.

The new Presidential Administration should be complemented because they are the ones that caused this...  We should feel fortunate that we have such brilliant people at the helm of our country and who are making these clever decisions on behalf of the American people.

Social Security

This year’s Social Security cost-of-living adjustment was 1.3%, yet many of the costs seniors face are rising much more quickly.  In 2021, the estimated average monthly benefit increased by $20 per month.

Many expenses have dramatically risen in the past year, according to a new analysis of Consumer Price Index data from the Bureau of Labor Statistics done by The Senior Citizens League, a nonpartisan senior group.

From March 2020 to March 2021, the fastest-rising cost was car and truck rentals, which went up by 31.2%. That was followed by laundry equipment, which climbed 24.2%; gasoline, 22.2%; and home heating oil, 20.2%.

Some prices, such as prescription drug and medical costs, stayed constant, although physician services climbed by 5.3%.  Admittedly, all consumers are grappling with those rising price tags, not just seniors. The Senior Citizens League selected the list based on which costs affect retirees most.

Because older Americans often live on a fixed budget, which typically includes Social Security benefits, having to absorb those higher costs can hit them harder.  “With inflation rising so fast, what’s going on right now is an erosion in buying power,” said Mary Johnson, Social Security and Medicare policy analyst at the league.

When measured by the index used to calculate Social Security’s annual cost-of-living adjustment — the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W — inflation has risen since last year.  The CPI-W was more than 3% higher as of the end of March than it was a year ago.  TO READ MORE, CLICK HERE...

COVID Relief and Inflation

Opponents of the package, which included all Republican members of Congress, accused the bill of being a Trojan Horse used by Democrats to usher in partisan priorities under the guise of pandemic relief.

But Republican lawmakers haven't been the only ones to raise concerns. The sheer magnitude of the fund has prompted lively discussions within economic and political circles about whether it is too large for its own good, and whether inflation is now in the cards.

"I agree that too much is better than too little and we should aim for some overheating. The question is how much," economist and former chief economist for the International Monetary Fund Olivier Blanchard wrote on Twitter in February, responding to the proposed bill. "Much too much is both possible and harmful. I think this package is too much."

"This would not be overheating; it would be starting a fire," he wrote.

Over the last decade, the rate of inflation in the US has only occasionally gone above the Federal Reserve's target of 2%. For anyone born after 1960, it might be difficult to imagine what a US ravaged by exploding consumer prices might look like. But in the 1970s, overly loose monetary policy, the introduction of wage and price controls, and a series of energy crises pushed the inflation rate into the double digits and plunged the US into a painful recession.

"There's a real possibility that within the year, we're going to be dealing with the most serious incipient inflation problem that we have faced in the last 40 years," former US Treasury Secretary Larry Summers told Bloomberg News in February.  READ MORE

Unbridled inflation is bad enough on its own terms. But it's also self-perpetuating. The faster people try to spend their depreciating money, the quicker it will lose value. If this were to happen in the US, the Fed would have to step in and consciously inflict pain on the economy. This would take the form of higher interest rates meant to increase unemployment, forcing a stop to the spending frenzy on the most unpleasant terms.

Retirement and Beyond

When will you retire...  if ever?

My father retired at age 62 with a pension from the Federal Government (that now is no longer) and a pension from the US Military with the pay of Naval Caption just under an Admiral...  not bad for being in the Reserves for 26 years.  His retirement was more than I ever made annually...  

I retired at age 67 with about $500,000 in the bank...  no pension from any company...  only Social Security...  however, my wife and I combined our Social Security which helped a lot and we had eliminated our debt over a decade ago...  However, we had a small investment that paid us about $1,000 each month +/- so we never had to pull any money out of our savings...  plus I taught about 6 night classes for a local university...

The odds are that if you can retire at all, it will be at the age of 70...  and, no doubt 75 for your children and their children as retirement age creeps up to 80.

Social Security will be gradually reduced over the years but it will still be available possible in the neighborhood of 50-75% of what it is today.  The average social security check is about $1,500.

Advances in medical technology will enable people to live longer and longer so one will either need to keep working or make sure that they have enough in savings or income coming to them from other sources.

It would not surprise me at all that by the year 2050, our life span will increase from right around 80 to right around 100... and, by the year 3000, it will be 120 to 150...

However, by the year 3000, there is also a good possibility that we will not longer be living on this planet we call earth...  which is difficult for some of us who care to comprehend.

• How much money will you need in retirement?
• Will you be debt free?
• How much money will you have saved or invested?
• How many jobs will you have had?
• How many homes and vehicles?
• How is your health...  do you eat healthy and exercise?
• How do you manage stress outside of drinking alcohol?
• How will you compensate for inflation?
• How long will it take for prices to double?

Back in the 1960's, I paid $.18/gallon for gasoline and cigarettes were $.25/pack and a hamburger was $.15 and wages were $.75/hour...  that was over 50 years ago...  and, you know what the prices of things are today...  can you imagine what they will be like in 50 years from today?  I was 23 years of age 50 years ago...