171–180 of 605 posts
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Simply comparing prices from the 90s onward. They've risen significantly more over time while wages haven't seen a bump here in Ohio since 2008.
that sounds like the general trend of wages in the US to not adjust upwards since Reagan’s presidency
Here it comes. Cost of running money printer too hard.
Having we been giving much printed money to people who need more food? Most people in the western world aren't likely to buy more food, just because they have more money. Not saying, we won't see inflation, who knows, but I doubt we'll see it in household items.
That's the issue here: not only is stuff you need getting more expensive because of the expanding money supply but the new money is being used directly to cause it rather than helping the individuals that need help.
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Are you kidding. There will be an insane recession, if not a depression. Capitalist economies have a short boom bust cycle and a long one. Short ones cause recessions every 10-20 years. Long ones cause depressions every 100~ years. It was clearly stated that Covid (if nothing else) could easily cause a recession, with other factors played in as well then it could easily trigger a depression.
Can you explain the difference between those, for those of us who are not well versed in economics terms?
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> When the government tells me where I can shop, Which government is telling you where you can shop? In what way do they do that?
With regards to satisfying hunger, if the government has closed bars and sit-down restaurants in an area, that shifts food procurement towards grocers. Pre-pandemic, I suspect I purchased over half of my caloric intake from a food vendor other than a grocer. 15 years ago, that would have been 90+% (as so I expect the younger cohorts today would be similar)
"thanks to a combination of poor weather, increased demand and virus-mangled global supply chains." Seems like a lost opportunity to create so much anxiety with a long piece like this, to then only have this single line to hint at a reason for the rise. Can anybody more economically minded clarify if this is just post-covid rebound supply chain prices or is this food prices adjusting closer to their 'real' cost? Also…
Sure, almost all central banks over the world have printed an astronomical amount of money. Even though they may state there is no significant inflation, I dont buy it and neither do many other economists. Stock prices, house prices and now, at last, commodity prices have gone through the roof... But you're probably earning about as much as you were a year ago, or less, if your industry was affected... It's not just…
"thanks to a combination of poor weather, increased demand and virus-mangled global supply chains." Seems like a lost opportunity to create so much anxiety with a long piece like this, to then only have this single line to hint at a reason for the rise. Can anybody more economically minded clarify if this is just post-covid rebound supply chain prices or is this food prices adjusting closer to their 'real' cost? Also…
Sure, almost all central banks over the world have printed an astronomical amount of money. Even though they may state there is no significant inflation, I dont buy it and neither do many other economists. Stock prices, house prices and now, at last, commodity prices have gone through the roof... But you're probably earning about as much as you were a year ago, or less, if your industry was affected... It's not just…
We have lots of things to worry about -- inflation isn't one of them.
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Inflation can be created, basically, by two things, an excess of demand respect to what the economy can produce or problems of supply. Personally, I'm surprise at how robust are the global supply chains that have been able to keep things more or less normal despise what we have been through the last year. The quantity of reserves created by the Central Banks are irrelevant if they are not spend in the economy. There…
The examples given above seem like a textbook definition of inflation inside of a closed loop economic system. That is not what the U.S. has and it’s definitely not the situation if a country has a reserve currency. The Triffin dilemma may hold the answer in that as you supply your currency to the rest of the world, you are creating local deflationary effects while essentially exporting inflation. When the rest of th…
Anyway, the "reserve currency" excuse doesn't explain Japan in the last 20 years or the Euro in the last ten. The theory is just wrong. I don't know what more have to happen for people changing their minds.
It's spending what can generate inflation, specifically, spending above what the economy can produce. If Biden tomorrow created a trillion dollar coin and keep it under their bed, there will not be inflation. If the Central Banks create reserves, the interest rate will fall to zero (but not more), and if, despise the low interest rates, nobody is borrowing, there will not be inflation.
...Food price rises ARE inflation!
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These boom bust cycles are caused by fiat money, inflationary debt/spending, government stimulus and over regulation that causes false market signals and creates bubbles, it’s not a capitalism problem, capitalism would be the solution.
Fiat money is the outcome of unfettered capitalism. The government needs money to pay its loans that it took with interest, so what does it do? Detach the currency from anything tangible like gold or other precious metals, then print more money as it desires, devaluing the hard work of people who are trying to save money. There's a reason that interest and usury are prohibited in Islam, Judaism, and Christianity. Mar…
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"We are following it step for step". Really? Top voted comment on Hacker News? Yikes. Things have really gone downhill around here. Stick to tech, folks. "During the early 1920s, for example, prices dropped a total of 20%. And during the worst years of the Great Depression, from 1930 to 1933, prices fell a total of 25%" I mean, the title of the article was even : "Food Prices Soar Globally" If you want to be a doomer…
The snark in this comment is completely unnecessary. It is better for everyone if you make your point in a more constructive manner.