Massive inflation and a reduction in both debt and savings.

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Dec 11, 2024
2:35:32pm

j20 Starter

Massive inflation and a reduction in both debt and savings.

For the debtors, you've paid off their debt. But they'll probably soon be in debt again.
For the savers, their savings just got wiped away. That's a bummer.

Those who were holding assets (e.g. land and houses) are ahead. The biggest "relative" winners are those with the most assets and about $1M in debt.

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j20

Bio page: j20
Joined: Feb 3, 2016
Last login: Dec 12, 2024
Total posts: 895 (12 FO)

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Messages

Author

Time

Assuming a fantasy world in which every American actually did get $1M suddenly given to them, what would be the result?

Byron McNertney Solid 6 (8 if you're drunk)

Dec 11, 1:57pm

Prices on everything would skyrocket. Rich would get richer.

Dec 11, 1:59pm

Prices would skyrocket, right. Net worth disparity would not grow.

Brandoblueblood

Dec 11, 4:17pm

Yes, for the first 3 seconds of the hypothetical, your math would be correct. After that, it's meaningless because all

Byron McNertney

Dec 11, 4:35pm

I would argue we would all would end up in the same place within the year

JohnnyC

Dec 11, 1:59pm

I think wealth disparity would increase significantly.

Dec 11, 2:01pm

I think this is right, because of the mortgage issue

Gustav

Dec 11, 2:06pm

Wrong. It would stay the same in terms of dollars and decrease in terms of %

Brandoblueblood

Dec 11, 4:12pm

A relatively small percentage would make wise use of the money. Most would blow it like the prodigal son.

SierraCoug

Dec 11, 2:00pm

Biggest effect might dividing the country between those who already had

Gustav

Dec 11, 2:00pm

An overnight shock to demand, leading to shortages of goods, and massive

TailgateU

Dec 11, 2:00pm

Knowing how to grow/make money is what matters. Without that you'll lose it all.

maYbe

Dec 11, 2:01pm

pay off house put the rest into retirement.

crimedog

Dec 11, 2:01pm

That's the smart thing but VERY few would actually do that

Dec 11, 2:11pm

if you have a low interest rate, then invest it all and continue paying off the

cwilke1

Dec 11, 2:17pm

They'd be worse off in a few years due to the initial hyperinflation.

Eddie

Dec 11, 2:05pm

I'd spend it as fast as possible on real estate before the spike

GfB

Dec 11, 2:08pm

Probably 90% would quit with immediately or with a couple weeks notice

Dec 11, 2:10pm

Yeah, labor costs would absolutely skyrocket

Still Blue

Dec 11, 2:15pm

it's pretty crazy to think about how many "poor" people are needed to run our

Mayor of Cougartown

Dec 11, 2:18pm

I’m gone to Costa Rica or Panama. Fly back to ski when I want.

Nakedbootleg

Dec 11, 2:15pm

The Dollar Store becomes The Million Dollar Store overnight.

KCFan85

Dec 11, 2:29pm

Massive inflation and a reduction in both debt and savings.

j20

Dec 11, 2:35pm

Look at what happens to people who win the lottery. It would be just like that.

Dec 11, 2:45pm

The problem is that it would be like EVERYBODY won the lottery.

Eddie

Dec 11, 3:06pm

People who quickly shove it into real estate or bitcoin or some other asset

YOHONOMOTO

Dec 11, 3:02pm

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