this post was submitted on 08 Dec 2024
498 points (99.8% liked)
World News
32499 readers
617 users here now
News from around the world!
Rules:
-
Please only post links to actual news sources, no tabloid sites, etc
-
No NSFW content
-
No hate speech, bigotry, propaganda, etc
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Because inflation and stock markets are going nuts. And since everyone working has their pension invested, their wealth went up as well. Plus house prices went up. The problem is that people confuse wealth with money. And wealth is not money. You can't buy bread with wealth.
By definition if inflation doubles and the value of your estate doesn't change, your actual wealth didn't change.
Actually, it did—it was cut in half.