The turn-around of event.
By Mrchikeh
@Mrchikeh (53)
June 1, 2008 10:56am CST
Charting with an elderly one yesterday,he told me me this:'that in the 80's making money was someworth difficult but having savings easier.This,according to him,is in contrast to the present situation where making money is a little easier but having savings a problem,in fact,difficult'.You should have known by now what our discussion was.One can easily accept this in disbelieve.But is he wrong?
I remember what my dad was able to achieve when he was getting income in hundreds naira(Nigerian Currency),half of which he cannot attempt to do even now that he gets income in tens of thousands.Considering this I was tempted to aggree the old man's analysis.To be frank,I partly aggreed.Yes,partly because I didn't witness the two phase of the events.
If I may ask;'do you believe in this analysis,at least as it is in your country.If you do,what do you think is the main cause of this downward trend-"more money,less savings"?'
3 responses
@07Aknox (72)
• Portugal
1 Jun 08
Actually the problem with market fluctuations are people who get better salaries, which basically makes prices go up for everything in a vicious cicle which ends up in the consumer paying more and more on tecnologic products. Until anyone has a brilliant idea of stoping to raise salaries the price of goods will stop going up as well, the problem is the people who believe that the more money they get per month the better, but they never realize that everytime salaries go up the difference between the "high" class increases over the little guys, and high cost goods will be even more expensive then when you made less money.
1 person likes this
@suruchi86 (1873)
• India
1 Jun 08
I am from India and I agree to your analysis upto some extent.Making money has definitely becoming easier over the time, but due to rising inflation, real value of money is reducing. In fact due to rising inflation, the real value of money is perhaps less than one tenth of what it used to be some 30 years back. This has caused rise in price of each and every commodity in the market. So now to buy same amount of any thing, we have to spend more money and our saving are reducing correspondingly. This is happening more or less in each and every country of the world.
@suruchi86 (1873)
• India
2 Jun 08
Inflation today is perhaps most severe worry for economists world over. This can be reduced upto some extent, but I think this can not be brought back to old levels now because major component of today's inflation is supply side constraints. Today the demand of every commodity, be it oil or food grains is increasing very rapidly and it has outpaced the increase in supply. So we have to live with that. But, yes the abnormal level of inflations being seen in some countries is definitely a result of mismanagement and it surely can be controlled.
@noodlebrain0 (118)
• United States
1 Jun 08
In the US, it may be a little easier to make some money, but very difficult to hold on to it; what with all of the new shiny things to buy ;)
This statement is very true.
~Noodlebrain0
