TC
I agree with your comments about people suffering. Anyone who is living on a fixed income is already hurting from the massive rise in grocery, gas, utilities costs and rents. If they already had no spare income then they are at the point of having to figure out which necessities they are going to cut back on so they can still get by.
For people that currently have room in their monthly budget, that surplus is getting eaten up very quickly. The only way to protect yourself long term from inflation is to own assets that go up as inflation rises. Real property, businesses that can pass on price increases and stocks in Oligopolies that are paying increasing amounts of dividends are the assets to own. There is also benefit in holding products that have a long term rising value like gold, and other commodities. Sitting in cash in highly inflationary times is just watching your money shrink.
When you can sell a two year old pickup with 100,000 Kilometres on it for within $5,000 of what ordering a new one costs, and house prices are going up 30%+ a year, you know stuff is not about to get cheaper any time soon. Finding ways to increase your income is the only way to stay even or beat inflation.
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