What is the relationship of economics in our daily life?

Question

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Answer 1

Economics affects our lives in hundreds of ways that we often don't realise. US economy is in real bad shape right now and obviously, it is going to get very, very bad  and it may get worse. Interest rates are going up regardless. That's what happens when you have inflation. So, interest rates are not the issue. Gold went up along with interest rates during the 70s. Now, whether we have inflation or deflation, I truly don't know. However, it's safe to assume that if we do get deflation, that it's not going to be some minor thing. As far as your money goes, the kind of inflation we're experiencing can be a real killer. It drives up interest rates. It destroy purchasing power. It can destroy your nest egg. It can affect wages, housing, etc.  I think it's also a big help if we can have more knowledge and awareness and be able to track the to track the impact of the fiat money systems that affects their lives. I found the website www.viritix.com or Viritix Inflation Tracker which I think can help us understand more about inflation and how it affects them, aims to track inflation and give individuals an indication of how inflation is affected by what they spend their money on'. Do visit the site and let us know how you get on. It allows people to understand more about inflation and how it affects them, aims to track inflation and give individuals an indication of how inflation is affected by what they spend their money on'. Check it ou and let us know how u get on.

Answer 2

When you run out of Money and have to rely on credit, And then your credits no good.  Can you imagine what our President is going Thur? He had to open the back door to illegal immigration and that just pisses everyone off. Now I have to listen to German Polka in Spanish every Friday and Saturday night,With out ear plugs I would be forced to move to Canada.

Answer 3

Economics is controlled by supply and demand.  Supply and demand controls prices.  Our daily lives are affected by the price we pay.

Answer 4

It's almost incalculable. Economics, as a science, is pretty wobbly. If you put 10 economists in a room and ask them to come up with a prediction for how the next quarter of the US economy will perform, you'll get 10 different answers, and nobody has any idea how the world economy will perform two weeks from now - political events can happen very rapidly that throw all economic plans into a shambles. No other science could perform so poorly and still call itself a science.