Inflation

Inflation is the decrease in buying power for a given currency. As we see the prices rising at the grocery store, the lumber yard, the hardware store, etc., we realize that the US Dollar value is dropping. There are many reasons for the current inflation to include a period of 0% interest rates on a high amount of lending. Decisions were made, many justified by the goal to get society through a pandemic. The decisions were made at that time amidst a cacophony of voices, opinions, and compromises. Nonetheless, inflation is here and it will influence everything.

Inflation highlights the need for self-sufficient practices. Self-sufficiency is the ability to survive without outside influences or inputs. True self-sufficiency is a fairy tale because everything was or is the product of the sun and stars. What is meant by self-sufficiency is the ability to grow or harvest your own food, gather and/or fashion supplies and tools, and maintain a quality of life in balance with the environment that surrounds you. I loosely describe self-sufficiency as such because people in cities are inherently reliant on inputs from surrounding or distant farmland, industry, and power to survive. However, even with my loose definition, self-sufficiency in a time of inflation is very difficult.

For everyone seeking a level of self-sufficiency, it is getting more expensive to do so. Repairs cost more, food costs more, supplies cost more, and salaries seem to be stagnant for many professions. This imbalance of inputs and outputs will slow efforts to improve. Instead, efforts will shift to the conservation of personal resources and beliefs. Of course, this is a poor choice when looking to thrive as the markets take a dive and excel when they rebound. Inflation will lead to a market correction which is a great time to invest heavily in learning, repairing, and improving.

I hope that I am wrong in predicting a market correction, but it is worth preparing. We have seen this pattern over and over. The last time this pattern emerged was within the last 40 years. If we are good students of history, this should make it easier to deal with this pattern.

In regards to health, inflation expands the health disparities between those that have more resources than those that don’t. The social determinants of health will only expand as inflation continues. As such, I felt it was a topic worth blogging about to get my readers considering how inflation would impact your own health both physically and fiscally.

Reading list recommendations for the holiday season –

If You’re Not First, You’re Last

Atomic Habits

Built to Last

Think Again

Hustle Harder, Hustle Smarter