MarketWatch/Chuck Jaffe/4-29-2023
“A recent Bankrate.com study showed that 68% of Americans have reduced savings as a result of inflation; just 15% have increased savings. If you want to survive high inflation, the playbook starts with increasing savings. Get that wrong — as a majority of Americans are — and you will pay the price for decades.”
USAGOLD note: Jaffe’s thinking is based on inflation “calming down” over the next year or two. What if it doesn’t? Saving in the local currency to a large extent is unavoidable. Saving for a rainy day is a necessity, but when inflation is a danger some of those savings should be in a form that has a track record of preserving purchasing power.
