[TomGuy]

there’s a good chance Social Security beneficiaries will end up losing buying power in 2023, even if their monthly payments end up increasing a lot.

Well, duh! they (we) will DEFINITELY lose buying power either way because inflation is going to be around for the foreseeable future. Those 1/2 to 3/4 point FED interest increases are going to take a year or more to even show much of an impact on inflation. The FED was too late to start the increases and too little when they did.

[mountainfolk]

Every time congress gives themselves a raise, Social Security should be given the same percentage raise for all recipients. The SS raise should be tied to all govt raises.

[flamberge]

Those 1/2 to 3/4 point FED interest increases are going to take a year or more to even show much of an impact on inflation.

Those interest rate increases will have no effect on inflation. Doesn't anybody remember the 70's and "stagflation".

The rise in interest rates is merely the central bankers protecting themselves. Because they can.

We are funding a very expensive war in the Ukraine on "borrowed" money, which is basically the same thing as "money created out of nothing" by the central banking system. The US Government spends about twice as much as it collects in taxes and effectively prints the rest. That is what drives inflation.

We have been able to export that and limit the effects on our economy because the US dollar has been the world's reserve currency for most of our lifetimes. That is not sure thing anymore. The main advantage we have is that other countries are doing an even worse job of managing their money supply.

The whole arrangement is coming apart now. The winners will be factions that can get control of productive people and protect them from the other more predatory factions. I do not believe that can be done any longer by clever manipulations of the financial system. And all the factions are predatory now.