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this post was submitted on 24 Dec 2023
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This isn't the gotcha that you think it is. Inflation is kept at a positive number on purpose. Deflation causes a self-reinforcing spiral that brings everyone's wealth down. If inflation is too high that's a problem too, but it's less of a problem than deflation.
... With that said, the huge amount that prices have gone up recently is caused by corporate profiteering, which is a serious issue that needs to be addressed.
A sane economic take on lemmy?! Blasphemy.
I'll add this; Stop buying shit. I'm not talking rent and food. I'm talking "consumer confidence" stuff. If you don't need it to live, stop.
Example; Ammo got wildly overpriced. So we stopped buying. Like magic, prices tanked! Ain't that crazy?
Of course that's stupid oversimplified, but the basic idea is sound.
Locally, people were bitching about Taco Bell's quality. OK. Stop buying Taco Bell. They'll either crash (that store) or correct. Win-win.
I would love a legislative way to stop corporations from wildly profiteering off our asses, but I don't know what that looks like.
The corporations are absolutely aware that people have stopped being price conscious.
I understand everyone who can afford a $6 case of coca cola can also afford a $12 case. At some point you have to just choose not to buy it, or the price will just keep rising.
I mean, you are the one making the logical fallacy of assuming they are defending the exact opposite... They're basically just saying, "inflation bad", and you come in and say, "deflation bad, too!".
OK? They weren't defending deflation? You even admit inflation has been out of hand lately...
You spelled "corporate market manipulation" wrong.
Doesn't that mean that deflation is favorable to the rich however, and inflation is favorable for the working class?
Deflation makes what we already have more valuable, so people who have the most would see their net worth go up the most. In contrast however, inflation means the people hoarding wealth would see their net worth go down. The purchasing power for the wealthy only gets higher in deflation.
This would suggest that inflation is actually to the benefit of consumers when it's kept within check. The money they earn is more valuable relative to their net worth. Or rather, they don't have as much of a loss to their assets.
Get your reason outta here and support a centralized economy like the rest of us!