At least with the coming Hyperinflation I can pay off my student loans faster!

[Bodhi]

Without a doubt, the US is going to experience some serious hyperinflation. Since I am no longer in the US and my wages are in a foreign currency, I just might be able to pay off my student loans for what amounts to pennies on the dollar. I'm not cheering on the collapse of the dollar, just trying to look on the bright side.

Pretty sad it has come to this.

[ihsv]

Hopefully wages for the average joe goes up with the concurrent hyperinflation. I know it won't keep pace, but if I can work at McDonalds part time for $700 an hour, you can bet your bottom dollar I'll have all my bills paid off in a week or two :D

Edit: No, I don't work at McDonalds

[socialize_me]

LOL wouldn't now be the time to take out huge amounts of home equity and rack up credit card debt and loans??

...just sayin' :cool:

[Mortikhi]

Without a doubt, the US is going to experience some serious hyperinflation. Since I am no longer in the US and my wages are in a foreign currency, I just might be able to pay off my student loans for what amounts to pennies on the dollar. I'm not cheering on the collapse of the dollar, just trying to look on the bright side.

Pretty sad it has come to this.
What country do you live?

Is it better than the pit Bush is making of this country?

[bluemarkets]

Hopefully wages for the average joe goes up with the concurrent hyperinflation. I know it won't keep pace, but if I can work at McDonalds part time for $700 an hour, you can bet your bottom dollar I'll have all my bills paid off in a week or two :D

Edit: No, I don't work at McDonalds

haha

only problem is gas to get to Mc D's will cost about $500/gallon

[sam9657]

LOL wouldn't now be the time to take out huge amounts of home equity and rack up credit card debt and loans??

...just sayin' :cool:

Yep, I am use these 0% APR credits cards and using them to buy gold. Then just making the min payments each month.

[Bodhi]

What country do you live?

Is it better than the pit Bush is making of this country?

I'm in Spain. I don't think it is better than the US, but I do enjoy the lifestyle and the culture. On many levels there is a lot more freedom here and it is not as materialistic as the US has become over the years. They had a dictator not so long ago, so people understand the importance of being invovled in politics, which is nice, but they do embrace socialism more than I care for.

All in all, things are good here. Not perfect by any stretch of the imagination. My judgement is clouded because I am here to live with my girl, but I have to say that I have no plans to live in the states again anytime soon. Maybe the US the way it was 10 years ago, but not now. I did stay in the US to put up the good fight for Ron Paul, but very few people listened. Oh well, I tried my best, hope they wake up soon.

[ghengis86]

one thing to remember is that it will take a long time before wages rise in response to (hyper)inflation. The massive amounts of cash will benefit the first people who receive it (banks, bankers, etc.). When they spend that money, the next round of people will benefit slightly less than the first. This occurs over and over, until only a tiny bit of the 'prosperity' flows to the middle to low income brackets. While this is happening, prices will rise a little bit through each cycle of money spending, so that the rising prices will have offset the miniscule gains seen by the last people to get the cash. The net effect is never greater than zero as far as wealth is concerned, and is almost always negative. The purchasing power of the people who get the money last is reduced. This is the hidden inflation tax. Wages are usually the last to increase in this cycle.

Unless you get a weekly prorated raise for inflation, you will never benefit. It only benefits those who receive it first.

If you are in another nation, your currency may strengthen against the dollar, making it easier to pay off your debt. But, whatever nation you are in probably uses the dollar as a reserve currency, so you will feel some of the effects of inflation in the long run; just not as instantaneous or severe

[Bodhi]

Yep, I am use these 0% APR credits cards and using them to buy gold. Then just making the min payments each month.

That almost makes me wish I didn't cut up my credit cards years ago. Seems like a nice way to shove it to the bankers.

[RSLudlum]

Well, well, I heard today that McDonalds is probably going to be raising the price on Happy Meals and the 'dollar' menu.

Just found an article that discusses restaurants raising prices:



Restaurants may change menus, hike prices in 2009
By LAUREN SHEPHERD – 1 day ago

NEW YORK (AP) — Beef may not be what's for dinner at your favorite restaurant come 2009.

Restaurants, now working to secure supply and price contracts for meat and other commodities for the upcoming year, are expecting big increases in food costs — increases that will likely lead to menu changes and price hikes.

Some chains are already adjusting their menus to reflect current high costs for both beef and chicken. CKE Restaurants Inc., which operates the Hardee's and Carl's Jr. chains, stopped offering Double Cheeseburgers in its 2 for $3 promotion at the end of August and replaced them with Jumbo Chili Dogs and Hot Ham 'N' Cheese Sandwiches to avoid selling pricey beef at a lower price.

Even fast-food leader McDonald's Corp. is considering making some changes to its popular dollar menu — either by changing the items on the menu or bumping up prices — saying the cost of selling meat at such low prices might be too high...

rest of article here (http://ap.google.com/article/ALeqM5ihVx6egfLfP3kLcoGxAbgHYZqd9QD93POJGG2)