[Galveston1]

Inflation is on the way that will likely make the Carter years look good in comparison. When you consider the long list of things to do on Obama's list and how expensive each one of those programs is, each of us should give some thought as to how we will cope with the resulting inflation.

The government has only 2 ways to get money; through taxes and through printing more federal reserve accounting dollars (FRAUD). Since Obama doesn't want to look bad up front, we will get an influx of worthless paper to spend on these projects.

Who will be the biggest losers? I think the working poor and middle class will bear the brunt of it. ESPECIALLY the working apartment dwellers. Those already on social security will likely be kept at their current level of subsistence through COLA. Those who set aside money for their retirement will see their savings evaporate.

We all know that during inflation, goods and services don't really get more valuable, the paper money just becomes worth less, and less, and less.

That means that the only way to avoid losing what you have worked so hard for is to actually own something of real value. It will become worth more FRAUDs as time passes. That is, you need to own real estate. Renters will see their rents escalate along with all other costs of living.

And if you think that you will be in the tax category that avoids more taxes, think again. If nothing else your SS and medicare taxes will increase, and that is straight off the top with NO deductions or exemptions.

Here are my thoughts, and I am not an economic adviser, just a Texas redneck observer. If you can find any way to do it, BUY a home somewhere where you can raise a garden and maybe have a few chickens. You may think that's dumb, but first, that home will gain dollar value over the long term. Second, a 1/4 acre garden can fill a large chest type freezer in one decent harvest. At the prices we are going to be looking at, that means a lot of dollars each year, plus the advantage of having a fresh food supply at hand.

I don't think you can rely on precious metals. Obama has been studying FDR, and he forced citizens to turn their gold in for paper money. If Obama thinks there is enough gold, silver, etc out there, he will do the same thing. At whatever price the government sets.

Again, I make no claim to being an expert. Just a few thoughts I wanted to share with you.

[twinkiedooter]

Gal - I know you meant well with the advicee of buy a house with acreage, but in the long run just having one freezer full of food - is buying a house really that important to outlay that kind of money for one freezer full? For the price of a house you can surely buy a lot of groceries. I know you meant well (yes, I said it again) but not everyone can just run out and purchase a home with acerage as a lot of Americans live in cities and their jobs are in the city and just can't afford to commute 50 miles one way every day just to live in a house so they can plant a garden. If you already live in a ruralish town, you could approach a local farmer and "rent" his 1/2 acre of a field to grow your own food. Now, that makes a tad more sense and a lot less costly in the long run.

Also, if you ever do get the house with acreage, you could raise chickens for the eggs and the cooking chickens. At least you'd have a year long supply of food coming in for the cost of the feed.

[Galveston1]

All true, Twinkie. I did say "if you can" primarily because of the real estate more than the freezer of food.

Unfortunately, most Americans will not be able to get out of renting, and they will be hit the hardest, because as prices go up, if they get raises just to stay even, their taxes will also increase, so most will lose even more ground.

I just hope Obama doesn't follow the failed policies of FDR.

[andrewc24301]

Nothing like homegrown snap beans.