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Harris dodges question on lowering prices by describing 'middle-class' roots: Neighbors 'proud of their lawn'

Gimmesometruth said:
um, no, that would not cause deflation, a general decline in all price levels. Depressions/bad recessions bring down overall price levels.
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No it wouldn't. Why do you think that?
 
notquiteright said:
However, it is relative to wages. Buying power is a better measure.
Recession is something we all need to be leery of. Three months out of work would ruin many families... ✌️
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I'm not familiar with wages anymore. I've been retired for 11 years, and my pension has a next to nothing COLA. Biden/Harris have reduced its value by 20 percent, and that is Permanent.
 
coyote505 said:
I'm not familiar with wages anymore. I've been retired for 11 years, and my pension has a next to nothing COLA. Biden/Harris have reduced its value by 20 percent, and that is Permanent.
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Well hate to be the bearer of bad news but traditionally COLAs don't get even close to even mild inflation (and there is always inflation). No pension, no Social Security ever does- afraid unless you build a nice alternate retirement fund life might get a bit tough. I'm retired, I have social security, VA, a pair of 401(k)s, and land. I don't think there is any decade of time where those relying on just things like pensions or social security did well. I got lucky bought 2 quarters of land right before the invisible hand of the economy drove the bus right over the cliff when BushII was president. Land prices skyrocketed as investors bailed on the stock market and bought stock in land holding companies.... :unsure:
My grandmother was supported by her two daughters because social security just didn't do it and that was back a few decades- it taught me a valuable lesson and I was fortunate enough to invest in something other than stock... ✌️
 
Taylor said:
Government can affect prices overnight by announcing policy initiatives. It's a futures market.
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Gimmesometruth said:
um, no, that would not cause deflation, a general decline in all price levels. Depressions/bad recessions bring down overall price levels.
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Taylor said:
No it wouldn't. Why do you think that?
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Because I read it in macroecon books and remembered it, discussed and read about it here and have even seen it described in simple, historically documented intertubes pages...

linky
 
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