My income is "fixed". A couple of year ago, we didn't get a cost of living increase because the government, under Obama, was doing so bad. But the increases I do get are a token gestures against how much more everything costs. I would rather gasoline, groceries, utilities and such remained the same. My only salvation is my house is paid off. I only have property taxes on it. If I rented, I would have long ago been out on the street. If I had mortgaged the house, I would have long ago been out on the street.
Even in business I was conservative. I had three big rigs and drivers to drive them. They were older trucks, but paid for. Back in the days of Jimmy Carter, we had very little work. My drivers had begged me to buy new trucks as another trucker who parked in the same yard did. But one day, while we were waiting by the phone for someone to call in a job for us, we watch a car drive into the yard, over to those three new trucks. Drivers got in to them and the car followed them out of the yard. They had been repossessed. One of my drivers kissed his truck, because he still had a job. The three drivers of the new rigs were now unemployed in a bad economy. Those three new rigs being repossessed contributed to inflation.