After a few hours here and there yesterday, this was my first full day back at work since the Christmas break and it didn't feel that great. It wasn't a bad day or anything, but due to various circumstances, I ended up being in the office until 6pm, which is almost two hours later than I should be working and then, the drive home.
Still, it is better to have a job, than not have a job at this time as I suspect, those without jobs are going to have some challenges paying their electricity bills, which for today, was 10% more expensive than yesterday on the average price, but it will be 20% cheaper tomorrow - "cheaper" still means 600% more than it was on Sunday.
Details, details.
With so many "big numbers" floating about and a general sense of hopelessness detected in the voices of many, I assume that a lot of people are starting to just say, "fuck it" and go about their lives normally, forgetting about the increased costs. Personally, I feel I should do the same, but I am not going to because my head tells me that if I do, the cost is going to be far higher than my current fed up emotional intuition is currently indicating.
After talking to several people about this over the last few days, I think a lot of people are going to end up saddled with more debt than they think they will and, longer terms on their mortgages, as many are going to "interest only" payments for 2023, which essentially puts them a year further back on their mortgage, gaining the bank an extra year of reaping interest. Still, without the option to do this, I think a lot of regular people would be in the position where they may lose their house, just because they couldn't afford to keep them heated.
Insanity.
Currently, there are so many things to consider that are impacting on each other in a dynamic way that most people haven't really had to think much about ever before, that it is understandable that we are struggling. I know I am, and I have been in crypto for a while and therefore used to dealing with overly complex processes and numbers. The average person is used to having all of this managed for them in a relatively thoughtless way, as it is generally pretty "balanced" meaning that there aren't the extremes and volatility.
Dealing with disruption.
I think many people are getting a bit of a taste of what disruption tastes like, where there lives have been near immediately impacted and their behaviors have had to change on a dime. This is not normal for most of us in our day to day lives so again, it is no wonder that we are going to make some pretty bad decisions along the way.
The worst mistake I think many are going to make is turning a blind eye to it all and instead of facing their discomfort and fears, they will find ways to ignore it by drawing their attention to other things - anything. Entertainment will take a lot of time and energy from many people, some will turn to other pursuits, but fewer will face circumstances and dive into the details of their pain, though this is essentially what will increase their chance of survival and speed their recovery.
He who recovers fastest.
And speed of recovery matters in investing, as while there might be blood running down into the streets, the earlier the flow can be stemmed and then used to invest into the market before others, the larger the gains to be made. Speed of recovery takes a mental recovery too, especially after facing what most will recognize as a stressful set of conditions, like prolonged economic collapse and the personal effect it has on us.
It isn't personal.
This is something that should also be remembered, is that while we are affected personally, very little of what actually happens in the economy is personal, because it is performed at a macro level by people who don't know or care about our lives at all. To them, we are just numbers too - entities that will make them more, or cost them more, and we are treated like the numbers they see us as. Perhaps rather than spending our time on the irrelevant drama of the social feeds, we should get into the numbers and start becoming comfortable with the details.
Become Devil hunters, and hunt them where they live.
It's nothing personal
Taraz
[ Gen1: Hive ]
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Hello 2023. It’s going to be one HELL of a year 😂
:D
You prepared?
The only thing I regret is not building a banker in the height of the bull market but ok I will manage 😂😂
Next bull - remind me to do something :)
Haha, yep :) A holly ride..!
Rollercoaster
Definitely, I think we can all feel that it will be intense !
We Argentines are used to these types of economic and financial situations, dear friend @tarazkp, I am 54 years old and since I can remember, we have been fighting against this and how to survive, unlike my parents, I can have my own house, that investment has allowed me to live a little more comfortable, housing rentals for the first months of the year 2023 will increase by 82%
82% is insane - what will the average person do?
Housing is one of the worst problems faced by people in my country, especially in the main capitals of the country, this has happened all our lives, it is not something new for us, this causes that over the years, there are more people living on the streets. homelessness is enormous
Are people getting pay raises to offset inflation costs?
Once we are in a recession, interest rates may come down to stimulate the economy again. We just don’t know when.
I don't think so. At least not that I know of.
I suspect so and then, the money pours into equity markets again.
I don't think that it has been possible for more than one year. We have just seen the increases of new year which are higher than that of our salaries.
It has been like stepping out costs money.
Here there is still the chance to ignore on credit for a little longer for most people, but it is changing fast.
Last month I paid 17.29 for electricity. I would still like to pay less but at least it is not some 700 percent BS.
17!! that is our freezer for less than five days at the moment!
Now I am glad that I don't live in Finland. Otherwise I would have to live in a dog house to make it affordable.
It always amazes me how well-educated people with success in their careers do not spend time learning and understanding global and personal finance.
When I was in my first year at college, I was introduced to investing by a friend. I didn't know anything about it, so I read a few books. There was one about funds which had a short sentence at the beginning I will never forget. It was something like: "Most people spend more than 20 years to get educated to find a job and earn an income to live a good life but they do not spend a single minute to learn how to manage their wealth when you can earn even more managing your wealth than working to generate it"
That sentence created a significant impact on me and ever since then, I have tried to learn and understand every single financial (macro and micro) concept I have stumbled upon. I've learned how to be ready for macroeconomic trends, how to trade, invest, lose money invested, be prepared for hard macroeconomic cycles, and so on. I have done good and bad, but at least I have been able to act upon my own wealth, instead of living it in the hands of others.
Maybe they trust that the education given was what they actually needed to learn?
And it is this that I wish more people would get about crypto. There is beauty in being able to work for oneself, even if it is just to play around with some tokens. So much of our lives are dictated by convenience, for a cost.
It really doesn't feel that great to go back to work after taking a break for the holidays so I don't blame you. I also agree that we are like cogs in a machine and most people don't ever get out of that mindset. Investing and building something gives you way more control.
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I find it hard to keep my mindset for building on track and I think I am more on track more often than many. Why is it so hard?
It's because people don't like change and the holiday break is longer than the usual weekend. So in a way, our bodies start getting used to the holidays and we suffer as we try to adapt back to the normal schedule.
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666 the beast, or build back better.
People can continue to indulge while they still can, until the time of debt relief in exchange for everything, and they will own nothing and hopefully happy.
I like that!!
What is more valuable? the money we receive or the time we spend to get that money?
Just make sure in whatever you do, to factor the time you spent learning how to process and how to obtain the good or service you are exchanging with money.
Then you will discover than doing something as valuable as your time, is only an approximation.
And like when answering this post, you may also include the intangible income, such as friendship or distraction.
But, there is more to working than just doing it for the money, because if that is the only reason, it is probably the wrong job. To have a decent job takes learning skills and the work gives those skills a meaning. What is the point in learning anything if it is not put to practical use?
That is why many people abandon their professions after bad experiences. It happened to me. I finished 4 years of marketing and advertising, and knowing how manipulative advertising is combined with marketing strategies to deceive people, I couldn't in good conscious keep lying. The same sure happens to some lawyers and doctors.
Ignoring a problem does not make it disappear and in many cases makes it far worse. How can people be so foolish as you have to face reality.
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Compounding challenges by avoiding dealing with them. Things tend to fester.
I'm sure it will be personal for "them" when "they" start getting directly impacted by their own stupidities XD (whether it's by stuff that they think they shouldn't be affected by affecting them or peasants with pitchforks or something I donno)
I still can't get over your electricity costs. What the actual.
Not looking forward to the first bill coming in...
Neither am I and it's not even my bill x_x
Yeah sadly I know some people that are going to just say fuck it and rack up the debt without thinking of the long term consequences, thinking that there will be someone to bail them out like they do the government. I don’t suspect that this is going to happen but we shall see. I do know they are trying to usher in universal basic income, which will further collapse the system in places like the EU. Here’s some money but ignore the crazy energy prices because it is offset by the free money you just got!!! Stupid.
I am trying to figure out what to invest in on the traditional stock market to take advantage of the blood in the streets and upcoming blood. I’m no good at the stocks though lol.
And the price others will pay for it - like their kids.
I think it is almost a UBI already over the last years - a good indictor as to what people will do anyway - "quiet quit" :D
I have no idea about "real stocks" - good luck!
This week I will be exchanging ETH for HIVE. Damn fear. I will probably have to buy HIVE for dollars at $0.12 and SPS at $0.01. Selling everything in the house)
Did you get in before the mini pump?
I will exchange ETH for HIVE today and tomorrow. And I will put the coins in the pool with SPS. At the moment, the pool brings 53% per annum.
I still don't know how to deal with this exact scenario. Should I go for extra work so that I have extra income? or should i stay the course and be minimal with how I spend? There are not many choices. I am not figuring out a way out of this economic mess. For me, the wayout is to keep tight and do not make irrational financial decisions.
This is a personal decision to be considered, but it is always better to have additional income, if in the position that saving is necessary. But, it comes at a cost too, especially to things like time with family. However, a lot of the "time with family" many claim tends to be in front of a screen these days, so is it really quality time?
It is not a quality time. I would rather argue that the decision to not go for extra work is to avoid the work. I don't want to be in a situation where I am working extra hours but I am not able to lower the financial predicament at the comfort level soon enough. At this age, I just don't want to kill myself but would like to pay more. Is that fair?
Fair is a personal label in these situations, only you can be the judge, because you have to live with the consequences, for better or worse. I am sometimes in two minds on these things, but I tend to err on the side of work, as I know what I am like when there is a severe lack of money and I am better off not being home then anyway :)
Agree. It's a personal choice. I am okay until I have a balanced wallet. I would definitely have to look for ways to make up the deficit. One of the reasons I changed jobs last summer was to avoid the exact scenario. The pay bump helped me navigate the deficit. I am not sure how long though.
Hopefully this period doesn't last too long, but it is likely to be a little while at least, so if it looks like you might need to get a second job, do it before you are forced.
The stream is slowly retiring but... it’s only to come back as a tsunami, I personally, think bigger than we can imagine !
Will it be violent ? For sure, as you say, many are facing disruption but prefer to close their eyes, inside ones and others... I believe we have to pass by this, as humanity, most ‘need’ that to remember what freedom really means.
But it seems big devils hunters are already in the streets and on the way, now we need average people to join the hunt. It’s just a matter of following the numbers that they think we are... and those who are tying us in their system :)
One thing that is going to be interesting in the coming years is the retiring and dying, as currently, they have the majority of wealth. in the next decade, trillions are going to change hands through inheritance and the younger generations are likely to invest differently to the older.
Indeed ! That will be worthwhile to analyse and see the changes in the physical, tangible world. Thanks you for this interesting reading :)
I completely agree.
The price increase deserves reflection and planning in order to face everything in the best possible way.
Closing your eyes is not the solution.
In these periods, then, keeping your eyes open and ears pricked, there are many opportunities that if seized on the fly can lead to unexpected turns.
As always, a beautiful post full of important and useful reflections!🤗
There are lots of opportunities out there, it is just whether we have the possibility to take any of them :)
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And with the increased rent and utility bill prices, many people cannot even able to rent a house/room either. Not to mention the increased food prices. And basically everything else.
Many people became homeless in the recent past, and probably many more people will become homess in the near future too.
I hope that we will not be amongst them again. We were homeless multiple times in our lives, so I know what it is from personal experience.
Happy New Year.
Have a nice day. All the best. Greetings and much love from Hungary.
Lucky for you to have nationalized healthcare in Finland, because nothing makes you feel more like a number on a spreadsheet than the way our pay-for-play American healthcare system works. They literally look to deny coverage at every turn to save them money while provide the least amount of service to their users. But hey, they are in the business of treating sickness instead of providing wellness, and that is the core problem.
So much is impersonal in life. It is up to us to maintain the balance and checks to make things personal. We are not robots or machines. We are real and human we have emotions and our value is priceles.