How to ‘beat’ inflation
Posted by John Reed on
Today's WSJ has an article titled "Finding New Ways To Beat Inflation." I'll save you the trouble of reading it. It says to scrimp.
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I wrote a whole book on that subject without ever advising readers to simply cut back on consumption. The average Venezuelan has lost 24 pounds due to hyperinflation there. That is the precise definition of scrimping. People die from scrimping.
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My advice roughly speaking is to convert USD into non-USD assets like real estate, coins, foreign currency, long-shelf food, milder climate location to minimize heating and air-conditioning inflation, borrow mortgages. The last one enables you to PROFIT from inflation.
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The main advice I give for beating inflation is to leave the US and go to a non-inflated country. If you do that, you will likely be on an extended vacation in Canada or another non-inflated country living a normal extended-stay tourist life as you have in past foreign travels. At the same time, your American friends and relatives will be scrambling for their lives in the U.S.
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THAT is how to "BEAT" inflation, not replacing soda with tea.
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