. Inflation is …money buying less value, because of government corruption, negligence and detachment. Wages may increase as time goes by, but you end up wondering where the money went. Why after budgeting food, transportation, housing, electricity, and all other costs, still there seems little saved up?
. There are several reasons for the uncontrolled rise of inflation. Primary of which is the debt of a nation. Unpaid debt and continuous borrowing of each presidency are ingredients for currency to be devalued. Someone has to pay for debt, and the subtle method to carry this out is through the currency. People do not feel they have a debt to pay, but their Peso, Dollar, Ringgit, whatever will take the pinch for their loan. Much like credit card debt, this will haunt the borrower, and cost in high interest.
. Another reason for money having less value is, deviation from a gold standard. By not having its equivalent in gold, it has its equivalent in air. Governments can freely abuse the monetary system and “print money out of air”. Money diminishes in value when you print more and more of it. Much like in times of war when countries print a lot of money, but a thousand notes could only buy a loaf of bread or so. This is why the Bible requires currency to be built on something (not nothing but air).
“You shall not have in your bag two kinds of weights, a large and a small. You shall not have in your house two kinds of measures, a large and a small. A full and fair weight you shall have, a full and fair measure you shall have, that your days may be long in the land that the Lord your God is giving you.” -Deut 25:13-15
. The last reason, for inflation making life miserable for the poor as the years go by, is government ineffectiveness. Government should entice investors as much as possible. Government should produce an environment where those with money will want to make their money here. Much like the Swiss have made their nation a bank haven, with the wealthy depositing there. Another nation, Japan has been most successful in bringing down costs for its people, to a very stable level, for years at that. Government has an essential role in helping people live within their means. Raising prices is a brutal mockery of the poor, belittling all they can to survive.
. Nations have to fully consider their economy so that the poor do not suffer needlessly. Promotions are not common even for most people working 10 years in their work-life. Government allowing inflation, is much like allowing a national disaster, with an emotionless face.
. Currently the Filipino government under Pres Duterte has been sincere towards the welfare of his countrymen. Though Congress would not want his low-tax, and pro-people policies enforced without government benefiting. Hopefully his control over inflation would prevail – for the good of the people.