Inflation?
Where are we headed? it’s a very scary thought to see inflation go this high.. and with oil prices and gold going up we will only see inflation go higher.
Refer to my previous post about oil which was commented on by Skunk:
“these oil prices arent even good for opec countries as it is the oil price itself which is the cause of the record inflation that even opec countries are suffering from. while alot of the world’s money is coming here, alot is also going out to import stuff into this region cos nothing is made here.
so rents are higher cos it costs more money to bring in materials to build new buildings, food is higher cos of transport costs, fertiliser costs, packaging costs, etc.”
Seriously, money lately isn’t worth as much as it was worth few years back.. I still remember being able to survive a weekend on 4 or 5 KD when I was younger. now if you are lucky and you don’t spend much you will be throwing out no less than 30 or 40 KD (on a good weekend) without even buying something that you will keep.
What scares me even more that investing your money is harder now (obviously).. couple of months ago I wanted to open a fixed deposit.. and the rate they offered was 2.75% per annum for the monthly deposit! that means you are actually loosing money on your deposit..
What would your saving plan be in such a scenario? share..
UPDATE: a friend just sent me this picture.. it’s true regarding inflation
