Who's fault is it I have to change my life style I worked hard to achieve?

Question

Due to the high cost of things like gas, food, heath care,housing and education.

I bought my house before the boom and What the heck ,do you not eat, drive, or need health care?

I said I had to change my life style, I did that, but what happened to the good old days.

No offence, but is there an economics major in here that can tell me what is going on in the nation that is causing such outrages inflation?

Joe H , This is way I am your fan.

Answer 1

It's one thing to deregulate industries but there have to be some controls on things. Right now we are a nation that Under Bill Clinton got used to being able to spend pretty freely. Now we can't. The insurance industry has our hands tied and the oil industry has our hands tied. The lending industry has our hands tied and real estate agents are some of least educate people in the country.
You CAN"T put out a fire if you are handcuffed. Have you heard one single report of an Insurance company that is losing money? Nope. They have been able to easily say that they have to rise our costs because of illegal babies and so on. But if the illegal babies aren't covered why would it cause them concern? How much of your paycheck actually comes home to you?
The gov't gets their absurd portion, then health insurance followed by local taxes followed by house payment which has to include the insurance companies portion, and the car which also has to include the insurance companies portion and now the gas and oil budget. What's left? A little for food where the oil prices are again being passed on to us? Quite a cycle I'd say.

###Thanks. Go back and read the other one. I edited and it'll give you some insight into why I think that way.

Answer 2

Stuff Happens!!One doesn't have to change a life style if things are done in moderation. Have you been affected by higher education costs? Housing costs? health care costs? or are you citing these as examples? If you are affected by all three then you must create another source of income. If you are retired, you will have to find ways to economize on those things over which you have control. Nothing in life is certain so do the best you can with what you have.

Answer 3

I agree with the first responder in that your situation is not due to any fault.

However, the fact that your first reaction is to blame someone suggests that you have a long way to go before you become a mature individual.

EDIT: Ha ha ha, You want the opinion of an economics grad? That's really funny.

There are only two occupations where you can never be proven wrong, one is meteorology and the other is economics.

You can argue all day and never come up with a real reason why things happen in the economy. My suggestion is to accept the fact that the economy is a constantly and rapidly changing and that there is little you can do to actually anticipate what will happen.

Answer 4

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Answer 5

It's no one's "fault", really. Economic conditions change and when they do, you have to assess them and make the changes that make the most sense to you.

Remember that "high" cost is always relative to what you were willing to pay for that same good or service before. There are things that you cannot do without in total, such as food or shelter. But after the basic consumption of those, YOU are the one who determines what "lifestyle" is your preferred style of living.

It sounds to me as if you had not chosen wisely from the start, placing an externally imposed list of "must haves" in terms of material goods for the sacrifice of your own utility in choice of the kind of work you do.

My advice? Don't EVER do that again. If you are not existing within the bounds of deprivation, then you will find that things you really want don't cost all that much. The difference comes when you're doing the work you WANT to do instead of the work you thought you "had" to do in order to meet certain costs you never independently chose to begin with.


No offence, but is there an economics major in here that can tell me what is going on in the nation that is causing such outrages inflation?

I'm not an Economics major. In fact, I graduated from college some 20 years ago. But my understanding of inflation ocurring in certain goods depends on the particular good you're talking about and upon several factors at that.

For example, gasoline, which is a crude oil product, which means it's dependent on an import. Oil has gone up partially because of global competition for the resource, partly because the dollar has decreased in value (therefore buying less of this import than it did before), partly because of rarity of supply to private extractors due to nationalization moves in several countries and partly because world oil markets expect it to go up in price due to disruptions in oil producing nations. It all adds up to being a higher cost for you.

Anything whose production or distribution depends on oil products will also be facing higher costs. Those prices can go up if the demand base meets the higher cost. So food prices can go up because of oil prices having gone up.

Housing (for purchase) went up largely because the cost of the money borrowed to purchase it went down so far in the early 2000's. It created a higher demand for housing purchase as lower interest rates and lesser restrictions on borrowing allowed more people to obtain larger mortgages. Housing for rent is now going up because the price of housing for purchase went up too high for most would-be borrowers now and lending restrictions also got tighter again, drying up potential buyers.

Then there's the issue of ownership concentration in certain services like health insurance. A concentration of ownership bringing near monopolies into formation will decrease service produced but increase prices. Insurance companies also sustained higher "costs" when other investments went down. They lost money and therefore, have to recoup it through higher premiums.

There really are several factors that contribute to it all. These have been going on for a while now, but are most noticeable to many consumers now because wages have NOT inflated along with costs.

Answer 6

Ultimately your own for building your life around artificially cheap goods like gas, heavily subsidized food and health care.

If you bought your house as an investment during the real-estate boom that too is your fault, if not you have my deepest sympathies that your getting hit because of other people's stupidity and greed.

Answer 7

It's your fault if you did not continue to increase your income at the level of inflation. Life is not easy. Find a way to earn more money, new job, a second job, whatever it takes to live the lifestyle you want. Refuse to be a victim, change your attitude.

Answer 8

Sounds to me like perhaps you spend every penny you made to achieve a false standard of living. If you aren't able to put a little away for a rainy day or plan for unexpected financial woes, it is no ones fault but your own.

Answer 9

someone has to be at fault? Honey it's called life, and the certainty in life is that things change.

Answer 10

I was an economics major. Quit whining, no one ever guaranteed you anything in life.

Hope that helps.