That’s basically a €3,294.20 pay cut this year, for anyone on the median industrial wage (€36,200). Just over 4 grand for anyone on the average (€44,202).
Could someone please do something about this. I am really, really struggling with costs
Ah lads, it’s like you’re not even _trying_ to shop around!
How will Sinn Fein save us?
She’s a 9.1 but she’s inflation
And we still for some reason, have alcohol minimum pricing driving up the cost of alcohol, in the country that has some of the highest alcohol prices in the EU.
genius level thinking at play there.
The Modern Monetary Theory aficionados have gone awfully silent.
Who knew this would happen when printing tens of billion each month.
Whilst the prices of commodities, particular oil/gas are contributing strongly to the recent surge in inflation – [inflation has been rising strongly since the summer 2021](https://tradingeconomics.com/ireland/inflation-cpi). As a matter of fact, across Europe – Inflation has been hitting 40 year highs prior to the invasion.
It’s should be no coincidence that the ECB has been [debasing the Euro](https://tradingeconomics.com/euro-area/money-supply-m2) at a faster pace than ever before since March 2020. Well, when the money is made more abundant, inflation rears its ugly head.
* Abundance in money = Scarcity everywhere.
* Scarcity in money = Abundance everywhere.
​
**What can the government(s)/Central Banks do?**
* Europe can stop the embargo on Russia to bring down the price of natural gas – Ukraine will be fucked by this, but inflation comes back down to the 40 year high levels we say in 2021, then continues up from there.
* The ECB continues to print money – This may protect the EU in the short run, but it will lead to northern european populations getting angered as inflation soars higher.
* The ECB can raise interest rates – if they do this, Greece, Italy, Spain, and Portugal are truly fucked. Most of the European banks and businesses will be too.
Europe is truly in a bind.
Read more about the predicament Europe is in (scroll down to the sections on the EU) – [The Doom Loop](https://blog.bitmex.com/the-doom-loop/) – Arthur Hayes
​
**What can you do?**
Unfortunately, there is little we can do to alleviate the effects in the short term – other than manage our spending. In the medium to long term however, there are a few steps we can take.
1. The Euro is falling hard against the Dollar in 2021/22. The [exchange rate has plummeted](https://www.xe.com/currencycharts/?from=EUR&to=USD) from 1:1.2 to 1:1, and is expected to trend lower to .9 or .8. So getting some of your money out the Euro would likely be a wise move – This is cheaper do do via stablecoins rather than Currency exchanges. Lastly, the Dollar is the world’s reserve currency, and will be the last to fall, so to speak. (See [The Dollar Milkshake theory](https://www.youtube.com/watch?v=xxzy3sLs4Bs) for more on that). So moving from any smaller currency to the dollar should be useful.
2. Buy hard money – Specifically Bitcoin or Gold.
1. Bitcoin is considered an asymmetric investment, meaning the downside risk is drastically lower than the upside gain. Right now, Bitcoin’s price is low (mostly due to US interest rate hikes) and likely to deliver favourably in the long term from here. That’s not to say it won’t go lower in the short term. A 5% allocation in Bitcoin will likely counter the effects of inflation, or simply buy €100 per month for the next few years. Bitcoin is remarkably easy to buy, and my suggestion would be to hold it for 5-10 years before you consider spending any of it. Read [The Bitcoin Standard](https://saifedean.com/thebitcoinstandard/) by Saifedean Ammous to learn more about money, hard money and Bitcoin.
2. Gold has been around for thousands of years and has always acted as an inflation hedge in times like these. Ofcourse, in the moment of crises – all assets lose their monetary value for a period of time, but when the dust settles, gold begins to perform. Unfortunately, Gold has been manipulated by governments for years, so whilst it should provide an inflation hedge in time, it likely won’t be as strong as it could be.. Time will tell. It’s still a great investment, but not as easy to do as Bitcoin, nor does it have the same potential. Read [When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany](https://www.amazon.com/When-Money-Dies-Devaluation-Hyperinflation/dp/1586489941) – Adam Fergusson
All the above of-course is not investment advice. I wrote this purely to give some guidance to the OP and those like him. Please don’t invest your money anywhere without putting in the time to learn and understand what you are investing in. And please have patience.
Unfortunately money is rapidly losing value, so it’s incumbent upon us all to look out for ourselves and put in the effort if we want to get through the coming years. There’s little point in waiting for the government to give us a hand out, as whatever they do has a consequence to us in someway or another. For instance helping us with our electricity bills is akin to taking money from of our pockets and putting it into another. It’s our money after all, not theirs.
Be safe out there, and look out for yourselves.
My depression hasn’t been this bad since the start of the pandemic. My doom-scrolling has gotten so bad I’ve started read r/collapse
This is the price we are paying for our covid policy and the war in Ukraine.
12 comments
That’s basically a €3,294.20 pay cut this year, for anyone on the median industrial wage (€36,200). Just over 4 grand for anyone on the average (€44,202).
Could someone please do something about this. I am really, really struggling with costs
Ah lads, it’s like you’re not even _trying_ to shop around!
How will Sinn Fein save us?
She’s a 9.1 but she’s inflation
And we still for some reason, have alcohol minimum pricing driving up the cost of alcohol, in the country that has some of the highest alcohol prices in the EU.
genius level thinking at play there.
The Modern Monetary Theory aficionados have gone awfully silent.
Who knew this would happen when printing tens of billion each month.
Whilst the prices of commodities, particular oil/gas are contributing strongly to the recent surge in inflation – [inflation has been rising strongly since the summer 2021](https://tradingeconomics.com/ireland/inflation-cpi). As a matter of fact, across Europe – Inflation has been hitting 40 year highs prior to the invasion.
It’s should be no coincidence that the ECB has been [debasing the Euro](https://tradingeconomics.com/euro-area/money-supply-m2) at a faster pace than ever before since March 2020. Well, when the money is made more abundant, inflation rears its ugly head.
* Abundance in money = Scarcity everywhere.
* Scarcity in money = Abundance everywhere.
​
**What can the government(s)/Central Banks do?**
* Europe can stop the embargo on Russia to bring down the price of natural gas – Ukraine will be fucked by this, but inflation comes back down to the 40 year high levels we say in 2021, then continues up from there.
* The ECB continues to print money – This may protect the EU in the short run, but it will lead to northern european populations getting angered as inflation soars higher.
* The ECB can raise interest rates – if they do this, Greece, Italy, Spain, and Portugal are truly fucked. Most of the European banks and businesses will be too.
Europe is truly in a bind.
Read more about the predicament Europe is in (scroll down to the sections on the EU) – [The Doom Loop](https://blog.bitmex.com/the-doom-loop/) – Arthur Hayes
​
**What can you do?**
Unfortunately, there is little we can do to alleviate the effects in the short term – other than manage our spending. In the medium to long term however, there are a few steps we can take.
1. The Euro is falling hard against the Dollar in 2021/22. The [exchange rate has plummeted](https://www.xe.com/currencycharts/?from=EUR&to=USD) from 1:1.2 to 1:1, and is expected to trend lower to .9 or .8. So getting some of your money out the Euro would likely be a wise move – This is cheaper do do via stablecoins rather than Currency exchanges. Lastly, the Dollar is the world’s reserve currency, and will be the last to fall, so to speak. (See [The Dollar Milkshake theory](https://www.youtube.com/watch?v=xxzy3sLs4Bs) for more on that). So moving from any smaller currency to the dollar should be useful.
2. Buy hard money – Specifically Bitcoin or Gold.
1. Bitcoin is considered an asymmetric investment, meaning the downside risk is drastically lower than the upside gain. Right now, Bitcoin’s price is low (mostly due to US interest rate hikes) and likely to deliver favourably in the long term from here. That’s not to say it won’t go lower in the short term. A 5% allocation in Bitcoin will likely counter the effects of inflation, or simply buy €100 per month for the next few years. Bitcoin is remarkably easy to buy, and my suggestion would be to hold it for 5-10 years before you consider spending any of it. Read [The Bitcoin Standard](https://saifedean.com/thebitcoinstandard/) by Saifedean Ammous to learn more about money, hard money and Bitcoin.
2. Gold has been around for thousands of years and has always acted as an inflation hedge in times like these. Ofcourse, in the moment of crises – all assets lose their monetary value for a period of time, but when the dust settles, gold begins to perform. Unfortunately, Gold has been manipulated by governments for years, so whilst it should provide an inflation hedge in time, it likely won’t be as strong as it could be.. Time will tell. It’s still a great investment, but not as easy to do as Bitcoin, nor does it have the same potential. Read [When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany](https://www.amazon.com/When-Money-Dies-Devaluation-Hyperinflation/dp/1586489941) – Adam Fergusson
All the above of-course is not investment advice. I wrote this purely to give some guidance to the OP and those like him. Please don’t invest your money anywhere without putting in the time to learn and understand what you are investing in. And please have patience.
Unfortunately money is rapidly losing value, so it’s incumbent upon us all to look out for ourselves and put in the effort if we want to get through the coming years. There’s little point in waiting for the government to give us a hand out, as whatever they do has a consequence to us in someway or another. For instance helping us with our electricity bills is akin to taking money from of our pockets and putting it into another. It’s our money after all, not theirs.
Be safe out there, and look out for yourselves.
My depression hasn’t been this bad since the start of the pandemic. My doom-scrolling has gotten so bad I’ve started read r/collapse
This is the price we are paying for our covid policy and the war in Ukraine.
[Everyone over the age of 60 in my family.](https://youtu.be/M-wcFU5fZwY)