Post #3122527
2024-11-09 03:18 UTC
@shafik@hachyderm.io Sad state of affairs indeed.
That inflation issue is dicey though. While the rate of inflation *now* is near historic average, the rate in the two preceding years was quite high, meaning the inflated prices are here to stay. Only deflation would fix that issue but of course we can't have that.
Replies (2)
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@shafik@hachyderm.io 2024-11-09 03:47
@smurthys@hachyderm.io yeah, they are an imperfect proxy for being generally well informed. You would need a question along the lines of “could the president have done anything to effect the level of inflation”
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@mattdm@hachyderm.io 2024-11-09 13:36
@smurthys@hachyderm.io @shafik@hachyderm.io What offsets inflation is greater wages. https://www.epi.org/blog/average-wages-have-surpassed-inflation-for-12-straight-months/ But 1) it's frustrating to feel like inflation is eating up a promotion you earned (even if it is technically more than inflation) and 2) people don't think in these terms, and just remember "gas used to be $1" and "milk used to be $2.50".