From inflation to rate hikes: The Money Ladies' guide to the 2022 economy

: “The pandemic just sort of ripped off that Band-Aid, and just showed this sore that still wasn't healing. ... We've talked about this quite a bit: the haves and the have-nots. And Rana just talked about that. Those who have money in the market — their 401k ... investing, they've got to sell a house. They did fantastic over the last two years. While so many people are struggling, losing their jobs, not sure how to keep a roof over their heads.

"And so people who were living on debt, and basically increasing their lifestyle on their debt, are going to feel that pain. Those that were already struggling, they're throwing their hands up, like, what else can you do to me? I'm really still suffering. "But from the late 70s onward, that started to diverge. So we have a lot of different economies in America. Now we don't just have a 3% economy, we have a 6% economy, we have a 1% economy. I think depending on where you live, you're going to feel all these different dynamics of asset price inflation, wage inflation very differently in the coming year.”“I don't think that you're going to see a real wholesale decline in inflation.

"At the same time, you have rising wages. Again, that's kind of good for a lot of people, too. It's about time we all had a pay raise. But it's harder for companies, makes it tougher for them to keep prices down. So all of this is part of this really major transition in our economy that's going to take three years, five years, 10 years to work itself out.

SingletaryM RanaForoohar OnPointRadio OnPoint is a very good radio program.

RanaForoohar SingletaryM OnPointRadio At 44:50 in this episode, Rana discloses her idea for a national service program in the United States, BRAVO !! This does not need be military service, but collective action by diverse people toward defined goals, so that we can learn to live and work together as Americans again.

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