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168 sats \ 4 replies \ @grayruby 9 Apr \ on: Quit Complaining About Inflation! econ
Of course the "economist" fails to mention that even if it were true that wages keep up with inflation and that the cpi is an actual reflection of the rate of inflation, desirable goods that people needs such as housing, food, energy, education, healthcare and that make up the majority of most people's budgets, go up more than the CPI.
It's not like there is a law of physics that says the price of all goods must precisely reflect the stated CPI.
I don't understand the mindset. These economists seem to believe that inflation is necessary for economic growth. Savers get punished. I'm reminded of George W Bush after 9/11. It became US citizen's patriotic duty to buy stuff:
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People also believed the sun revolved around the earth until someone showed them they were wrong and the next generation didn't buy it anymore. Ok, some people do still believe that but they are rare these days.
But as Upton Sinclair said "it is difficult to get a man to understand something, when his salary depends on his not understanding it."
Maybe I should use that quote for the next edition of discuss this quote.
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I love that quote. It's applicable in so many situations.
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Great quote, and always applicable! I vote yes.
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