Returning To A 19th Century Standard Of Living Soon?

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England, South Africa, and Australia are getting especially hard hit by the cost of living now, though the following guest points out that while many foods have gone up more than 50% in Britain, some have actually gone down. This goes to what I've been posting about recently in how smart shopping will become more important than ever.

Smart Shopping: More Important Than Ever

Not much that I'd call news in the video below, but the end section (22:54+) points out something rather foreboding: Prolonged food insufficiency at an early age leads to all sorts of health problems later in life, and I believe one of these guests pointed out earlier in the video that wives (including pregnant wives) are often on the short end of the stick when food shortages take hold.

 

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A few other videos from South Africa. They are doing a full series on it now. The situation is rather sad, and a shadow of what is likely coming to many other parts of the world eventually.

Over 60% of the residents in Johannesburg are already defaulting on their water and electric bills:

Without being able to afford electricity, some are trying to stay warm and light their homes with candles, only to burn to death after falling asleep:

Some are having to choose between buying diapers or bread:

Store owners are considering closing because they're no longer turning a profit, but are holding on in hopes things turn around:

 

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0:47 - 1:50 in this video explains why home owners in countries like Australia and England are REALLY about to be in a bad way if their governments don't come up with some sort of solution. Because mortgage rates are not fixed like in the US, a mere 3% raise in interest rates will have them paying $800 more per month just on their mortgages. And if their central banks don't raise interest rates, there will be no way to bring rising inflation even remotely under control.

It's now become something of a no-win situation.

 

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US Food Prices To Double Soon?

 

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0:47 - 1:50 in this video explains why home owners in countries like Australia and England are REALLY about to be in a bad way if their governments don't come up with some sort of solution. Because mortgage rates are not fixed like in the US, a mere 3% raise in interest rates will have them paying $800 more per month just on their mortgages. And if their central banks don't raise interest rates, there will be no way to bring rising inflation even remotely under control.

It's now become something of a no-win situation.

For anyone considering buying a home in the US, I mentioned above that most of the more recent US mortgages were fixed-rate as opposed to the adjustable rate deals that banks have been lending to people like in England and Australia. But just recently the bankers are offering more adjustable rate mortgages to people in the US for a little less going in to start with, and I cannot think of a WORSE idea to get suckered in with. It's a trap. A 5.75% rate now may end up being three times that by the time people are even halfway into their loan, as opposed to paying 6.5 % on a fixed rate and being able to keep it for the next thirty years.

More on it in the following article, and the video that follows:

Adjustable Loans Form Largest Share of US Mortgages Since 2008