Topic: i was right people have no more money (Read 344 times)

I don't really think people do not have money left right now just because of the videos. While it could be true to some people who are living paycheck to paycheck or just having side hustles that are just enough to sustain their needs, I believe people aren't in the same scenario all at once. It would be nice if your claims would he backed up by evidences such as survey involving large population with lower, middle, andd upper bracket of the society are all present. That way you could have a support to your claims and it would not just be pure assumptions based on an unacceptable proof such as youtube video.

I think people just learned their lesson to prioritize what they need the most instead of spending it over luxurious items that just want and isn't really a necessity. People are holding themselves back from buying and making unnecessary expenses that could cost their budget to be misaligned. Although there are still few people who can afford such, but the majority are doing their best to save and just buy what they need to survive the daily basis given the pandemic situation that we are still in. Those countries who are able to bounce back are considered to be lucky ones because they can now move at ease and without restrictions unlike in some countries that are still stuck in lockdowns and quarantines.

When there is a shortage there is a deficit of something, and you can't have a deficit without a demand.
There would be no chip shortage in the first place if poeple would be too broke to buy cars, but since they do you have this shortage.

And there is more about this:

The data is from 2021, work from home started in 2020, it would make little sense to have a growth on growth when the things went down from complete lockdown to restrictions, at least from Europe's point of view.


Indeed, some or even a lot we can say have difficulties, but it's not like everyone is out of money.
But the author only sees doom and gloom, repeating the same narrative for years and his predictions are just as useless as two years ago

You have mixed things up a bit, sorry.
* The cars are delivered so late not because there are so many buyers, no. It's because the semiconductors shortage.
* The PC, laptops (and even tablets) sales have grown hugely in the last year(s) because people switched to working from home, kids are doing school from home

But yes, the prices are up. Some still buy basically all the crap, some are going out like crazy (you're so right about holidays and the cars on the streets - especially as gasoline prices are sky high), some others have difficulties in buying enough food or paying the gas and electricity bills.

Yeah poeple have no money
- tried to book two weeks ago a weekend for a ski escape, couldn't find a room, had to postpone it by a week
- tried to get seats for Spiderman, surprise, no way to get four seats next to each other during the weekend
- my cousin went to our local Skoda dealership, delivery his car was September, went to check out offers at Hyundai, came back 
- poeple might have switched to fully electric cars as the traffic was nuts even compared to pre-pandemic levels, where do they get the gas if they are all broke
- Apple sales 9% more iPhones, laptops, and PC grew by 14.8%, yeah, poeple don't have money

But, but, but prices are up, exactly prices are up because poeple are still buying that stuff if poeple wouldn't afford the stuff they would stop buying and the manufacturer would either lowe prices or go bankrupt. Yet, no such thing is happening!

Actually, the life of rural people is a little better than in cities, but not quite. A little better cause they get everything fundamental needs at a cheap price.

If people living in rural areas go to the city, they think their life will be better, so they migrated there. But is their life journey any better? Not at all. 
Because they don't get a chance to make their life better. on the contrary, they tend to be the surface of rising commodity prices.

When it comes to rural life. The problem of rising commodity prices in the village does not have to be faced much because agriculture is the main livelihood there, they get their daily food from their agricultural land.
On this, the children of this side do not see the light of education. In fact, the life of these marginalized people is not good anywhere.

The price of everything is rising in such a way that people have no money left to buy things.

It is indeed inflation. Technically the $500 you have in your bank account is still $500 but actually the value is now somewhat smaller.  You still "have" money but whether you can do anything with it is a different question.

Reminded me of a post somewhere showing several bundles of bolivars besides a single cup of coffee it managed to buy. Whenever they make the money printers go brrr, they are basically stealing your money. You still "have" money but whether you can do anything with it is a different question.

the category of not having money is supposed to be, can't buy luxury items anymore and only enough to eat, but I
a price increase of up to 40% is a very severe inflation, it is a food commodity, how about gas and its supporters?

but inflation only affects the poor, not the rich, they go up by 100% I don't think it's a problem, it's different from me, the people who can't afford a 5% increase, have been thinking for a long time how to meet that need every day

You were partly right. It's a very important nuance.
Many don't feel this in their pockets. Some not yet and some will never be.
Generalization is a big trap, don't fall into it.

@lienfaye, that's what exactly I told before. Rich people are getting richer day by day while those who are poor are not able to improve their standard of living even after hundreds of attempts.

This is not to say that people do not have money in their hands, but it should be said that some people are getting richer day by day by hoarding money and resources but a large section of the population is struggling to maintain their daily life.

Corruption has bound everyone. Everyone is preoccupied with their own interests. Nobody cares about others. The main goal of those who have enough money is to grab more money.
Commodity prices are also rising, but those who are producing these products are not able to make a profit. Not getting the right price, Brokers are taking advantage.

In countries like India and Bangladesh, it is difficult to get a job despite having enough educational qualifications. As a result, the youth society fell into despair.

If it continues like this, the world will soon face a terrible problem, you know!

I can see the little recovery for many countries and people. And that's why if he's saying that people don't have money left anymore, he's wrong with it.

A lot of grind and hustle and bustle has been made just for everyone to survive.

This has shown how flexible many of us are but sad for those that didn't make it. 

Normal thing for people to say since many don't want to tell everybody that they have money since they might be at risk knowing how hot the money is. But in terms of inflation maybe many people will get affected but lets accept the fact that this is normal in our economy so rising up the prices of goods over the years is not avoidable so the one we hope for this is government take action towards this issues.

There is never a time that they will not say people don’t have money. This is something that is being said all the time, but at the end you will still discover that people have money to invest in so many things and also in their business. They keep saying that people do not have money, but you still see lots of people buying properties and lots of things that you would least expect them to buy at a time like this.

The truth is that there is money, and there are lots of people who have money, and there are also those who are living in poverty.

The world has been like that, there are those who are poor in the society and there are also those who are rich. So, saying that people do not have money is kind of like getting it wrong, because there has always been people who do not have money and there are those who have that money. So don’t generalize it.

The video over there is emphasising on the market price of things, so it letting us know how commodities is getting accelerated every day, from your response, it's quite obvious that inflation has taken over the world, and it come to my knowledge that it's not every country that's experiencing the cost of high living.

I think the major point of low and high cost of life is from the controllers of the nation precisely [Government], if economy of a country is in constant Flux I don't think their is every tendency to experience high cost of living, and they will be process of generating income, while people had the taught of high cost of commodities, it's because of lack of source of earning, if actually theirs adequate power supply to industries and provision of tools from government to raise any kind of livestock, the inflation won't have affect a nation.

I would disagree that people have no money. From my point of view the value of money has increased, as people now think more before spending and do less spontaneous purchases. People have changed their priorities. Covid impacted greatly on people's "to buy list". And dont forget that due to covid production of goods and the amount of given services has decreased. That has made a deficit in some areas, which lead to price increase. Some people think then, that why should they buy now with an increased price, when they can buy it cheaper in half a year.

rich people seem to be in control, when workers ask for a salary increase, they increase the selling price of their products, and this seems to have the same situation. but for those who know crypto, even poor people can multiply their money even though they have little capital as long as they have knowledge, with evidence that currently many people are newly rich from cryptocurrency

The prices of things keeps increasing, but the salary that is being paid to people for the work they do every month does not increase to match, but stays the same. So, due to that a lot of people in the society are unable to afford the things they need. It is worst because the government doesn’t really care about providing for the people , that’s the situation in a lot of countries today.

If only the government should do what is right, start playing their role in the society, then I believe that things would be much better than it is now. During the lockdown due to pandemic, in my country there was lockdown without the government showing support to the citizens, which is very bad. It wasn’t easy for most of the people, although they were able to pull through it.

Thats the reality. Poor people are getting poorer, it seems there's no way out. Even you're a hard worker and earning enough money, the hindrance to live comfortably is the inflation.

Everything is turning up while the salary of the workers remain the same, its a problem that even the government cant resolved. On the other side, rich people are not affected on this problem because even everything went up they can still afford it.

Thus, nowadays having more than one job is much better if you want to be financially stable.

Of course, my friend. In which country do you live? This has been going on for too long. Are there steps you can take to help local residents, especially the business sector, which can still be converted/distributed in small lanes? can be taken / imitated,
Hopefully it can help those who panic and feel the economy is not working. It's a different story with a giant company that lays off its workers for reasons of unreasonable turnover. Of course they also have family dependents to support and provide for, this is a common task that must be united to revive the economy even though it only starts from a few houses and continues to grow. we can, cheers

That's true indeed if we see that in this pandemic condition many people are making little money and of course that is not regardless of the impact of the pandemic,
but there are also people who make more money during this pandemic like you said,
in conditions like this we can't just look at one point of view

You're right?

Why does it seem that everything is turning to be back as normal? Don't rely on just some youtube videos that you've seen. Well, no doubt that some countries are still experiencing hardship and they're dealing with poverty and crisis due to many factors.

But don't generalize that it's everyone that has no longer money. In fact, there are people, known and not that have made more money during this pandemic.

I do not know when people will realize that the poor will always end up with no money. In this world, there are no more middle class, we are getting poorer and poorer, the poor became so poor that they are hungry and starving and homeless, they used to at least have a shelter, a bad life but a life at least, nowadays they are dying, the middleclass became a bit more like poor class of the old, the old middle class ended up with a house, a car every 3-5 years, kids going to college all paid for and so forth whereas nowadays the middle class is the people who could order food from outside once a week and live in a small apartment with 2 other people.

I am sorry but life is getting worse for all of us. In return there are people with networth that reached 300+ billion dollars. While those people get richer, they are taking our money, and corruption is also another reason for it.

All can still be searched and cultivated, my friend. As for money, it just depends on your standard of gratitude in response to what you have. Believing that meeting economic needs also depends on how you see it as a need. The more you want, the more money you will have to spend. We don't quite understand what you mean by creating this thread. But when it comes to money, then back to the level of gratitude. A lot of money is not a guarantee of anything if you feel you are still lacking and lacking. Following ambition and lifestyle will certainly not feel enough. So believe me, as long as you are alive, there is a way to find a daily income. It depends on your attitude. Give up or keep going?

I guess they will die in hunger because they do not have the money anymore to buy their food to live. I did not thought that covid is now 2 years? Wow, time flies so fast but we are thankful that we are still here surviving. That's the best thing that they can do now that the prices of the items are skyrocketing.

I remember the time that we are advised to plant our own crops so that we can get something to eat. People should start doing it and stop being lazy. They shouldn't be picky either when it comes to finding a job because its hard to get one now. Limiting ourselves is helpful but not all times I guess? Because, the future is uncertain and we never know what if its our last day today?

Covid certainly turned the world upside down, it'll take a few years for supply chains and people to normalize again but have no fear. The history of the world of business is boom and bust, like the sun rising and setting each day - just on longer cycles. You just need to have faith that people are always striving for a better life and are surprisingly resilient at persevering. It might be a tough year or two, a recession may even hit as people struggle to afford what they used to have, but it's just a way of re-balancing. People often forget about the easy years, where they could borrow money very cheaply and there was plenty - but it takes a few rough years to be grateful again.

Rampant inflation, a pandemic that is still attacking, limited jobs and higher prices for necessities, have made it difficult for people to live life today, perhaps the situation is quite different between rural and urban areas, I have visited several places, and indeed It can be seen that the living conditions in the village are still relatively stable compared to those who live in the city, I see that the economy in the village is actually not too affected by the existing inflation because some of them take their daily needs from agriculture that they do themselves, while the people who live in urban areas are a consumptive group who rely on money to meet their needs, and if the less income they generate, it will certainly have an impact on the lifestyle they live in today's conditions.

Thinking on this, it is inflation that is reducing people's money. It is reducing the value of money on the cost of what commodity or product that can be purchased. When purchasing power is reduced then looking like there is no money. Cost of living is high and power of earnings is reducing. Money is still flowing in the system but it is purchasing very few commodity that is the issue.

Money is just circulating, while some people struggle with earning money, some are making decent money. So it's not really a problem, the market will still grow and it will continue to exist with a decent amount of money coming in and out.

We are not in a business with the purpose of making it profitable, in the crypto space, it's about people who love to play a risky game, and that is what we called trading where some will succeed, while the others will fail.

This high inflation will have a positive effect on crypto, especially in the long run as people will use crypto to hedge their money from this problem.

Most people still have money. What we can say is that they're just spending less because of the rising prices. If the inflation keeps getting higher though we might as well just say there is no money left though. It's basically eating away at people's savings.

What do you think will happen now that you have found out that people have no more money?

It's been two years already since the covid pandemic, people got used to eating less and saving. if they still struggle to find job because they are picking the supervisor position, too bad for them. The only people who'll have no money still are the people who chose not to work. They have money but chooses not to spend because the future is uncertain. Underemployed is better than unemployed

It would be wrong to say that people no longer have money.

Why is it that there is a large amount of money in stock but it is not in the hands of everyone but in the hands of some rich people?

You know, the earth has been paralyzed since the coronavirus attacked.  Many become unemployed.  In such a situation, inflation is rising day by day.
As a result, almost half of the people are going bankrupt. The prices of essential commodities are on the rise which is undoubtedly causing misery to the common man as he has no source of income.

But not everyone is in the same situation. I've visited many countries where marginal farmers only produce crops but there have the hands of middlemen from the time they reach the market to the time of sale and as a result, the farmer cannot make a profit. 
Everything goes into the hands of these middlemen. I also want to talk about industrial workers.

In the case of the garment industry, those who are making garments do not make any real profit from it and live under the poverty line. The owner of their company makes a profit. But in fact, those who are really working hard, in spite of working, their life has become difficult.  They do not have enough money to support themselves. On the other hand, there is no problem in the life of those who are benefiting by using these jobs.

a lack doesn't mean have no money. some people may have very difficult life, not because of inflation or others, but because they are too poor, really have no money, only very litle money to buy some meals to survive for life.
but in this case, not what this kind of condition that we are disucssing here.
i do believe that economic situation is like usual, there is up and down. but doesn't mean that people have no money. the money is still tjere, but probably not prefered for such kind of investment and other necessities.
Regarding to the market, it is still not stable, some people may also think twice to enter the market, or they are still conisdering what will actually happen.

  Run out of food, a long crisis, possible limited income, work done by machines, this may hit some countries and is quite painful for human resources
  The media broadcasts about this difficulty. Maybe in a village like me, maybe it can be used from the earth and agriculture for personal consumption and local residents and can boost our economy even if it's just bartering for other needs, hopefully this crisis can be recovered and specifically resolved dense society in this limited city and developed country.

how in your area to tackle this together?

High inflation makes prices go up, making people prefer to use the money for important things so that it looks like they don't have money but actually they still just prefer to reduce spending and maybe many people are waiting for what will happen in the future because the pandemic is affecting their finances so much.

Can't we just say that people are saving because of the unknown future.
Who will not? There is a virus out there and anything will be possible if ever you got one. From being hospitalized for months or worse dying. Being careful with investing/spending money so that it will not end up to waste.
I have seen colleagues and friends who adopted to the lifestyle now. They are at home working but never said they have no money left in their savings.

Yes no matter how you want to look at it , if the world is still existing everyone won't get poor and rich at the same time. Inflation will favour certain people and get some poorer because they can not be able to meet up with spending or lavish spending. Those that are involved in cryptocurrency and businesses that interact with currency won't feel the negative impact of inflation because they also benefit from it as they do the business. Also government policies do favour some people while others suffer from it but life goes on, a patient person will wait for their turn. So it varies , the people that inflation favour are those spending lavishly and they are few compared to the large majority suffering.

Observe carefully, there's a reduction in this activities you speak about people still doing, it's just a minority of the population still engaging in this activities while the majority is just struggling to survive. Don't also forget life is a continuous process, people will always live irrespective of how the economy situation is but how to identify if things are going great or bad is the number of people involved.

Humans unconsciously spends when there's surplus and that's very evident in every society, this is one flaw humanity has so when you don't see that in their numbers just know things aren't going great in that economy. Those doing this things you speak about are the individual that gets their money illegally or have surplus and don't mind wasting them because they know more are on the way coming. Also there are those that saved during the raining days but they won't waste their funds in such manners clubbing but gathering assets, yes.

people still have the money and can still provide for themselves. They will find a way to survive or else, they will die hungry. But I'd never think this gonna happen as even the crisis will continue, price inflation, people will accept it and work normally.
To face this sad reality is the only way to survive, nothing else. It is a need for us to maximize our time and use our knowledge as a tool to generate income. if we can do this, it certainly have nothing to worry about.

Those people who said they do not have money can borrow money from the banks to build houses, buy assets or use them for another purpose. But some people who say do not have money can say the truth and they do not buy anything except their needs for daily or monthly.

People still work as usual, although some of them work from home but the truth is some of them are still making money although it is difficult from the past few years ago before the Covid-19 attacks. But the inflation will be there and that depends on how they can minimize the risk and not consume unnecessary things that they really do not need. If they can do that, they will have more money to survive and will not have a problem of no money because they already prepared themselves.

In my locale, they say just as OP has said that there is no money, but people are still building Houses, buying assets, buying cars and there's no money, if you visit club houses, people are in still in attendance in their large numbers spending money quickly in the name of clubbing. If people no Longer have money as OP claims, how are all these activities still possible? If it's the case of inflation prompting this topic, i need to highlight that we should all also remember that inflation favours some people, to those people, there is no shortage of money.

Not exactly like they have no more money, prices of stuff today are just rising up and people are scratching out some list of things to buy. You are sort of right though.

Inflation makes the prices go up and people have less money to buy their needs because the paycheck stays the same even when we are now in two years of the pandemic. If only my government is like the US that gives out money to us, it would just be fine and we can spend more than $1000/month on toilet paper.

What you just wrote is known as confirmation bias. The videos talk about the increase in prices, which is relatively recent, and that makes people have less disposable income, but from there to saying that people have run out of liquidity, there is quite a long way to go.

What is happening now is that people are holding back consumption and a spiral is forming. Higher prices, people are consuming less, banks are lending less, anticipating the rise in rates and taking into account the fall in the value of assets, etc. If you think people don't have money now, I don't know what you will say in 6 months.

i was right people have no more money   ...let's hope it get better...wish i wasn't right on this one

Check link
https://www.youtube.com/watch?v=sc1yikYbc_0
https://www.youtube.com/watch?v=YhKq0kNcP3o