Every morning i get to make this face as I read the "Associated Press" to see what drivel the upstream "news" source for the mayo empire has deemed fit to feed down to the masses, usually resulting in me making a face like this:
a few days ago we got this real gem
Who wouldn’t like prices to start falling? Careful what you wish for, economists say
hmm well that sounds foreboding! what could possibly be bad about falling prices?
Wouldn’t it be great if prices actually fell — what economists call deflation? Who wouldn’t want to fire up a time machine and return to the days before the economy rocketed out of the pandemic recession and sent prices soaring?
yes! i think it would be good! i would like to be able to afford food that isn't spaghetti!
Many economists caution, though, that consumers should be careful what they wish for.
why?!?
Mainly because falling prices tend to discourage consumers from spending. Why buy now, after all, if you can purchase what you want — cars, furniture, appliances, vacations — at a lower price later?
um.... oki. so like, i can still spend less money? oki?!?
businesses would face intense pressure to cut prices even more
oh the humanity!!!
It’s certainly true that Americans can make their paychecks go further when prices are falling. If food or gasoline prices were to tumble, households would surely find it less painful to afford groceries or their commutes to work
oh my goodness imagine if those selfish people could afford groceries and commuting to work!
who will think of the businesses?!?! omg
anyways, i've spit all my coffee out. I love me some lib economic takes in the morning. so silly, so fun, we're so doomed. what a broken ass system
rant over y'all thank you :3
It's so fucking disgusting the way economists weaponize certain parts of language in order to make a good thing look bad.
Of course deflation over a very long period of time is very bad. It's one of the reasons that cryptocurrencies are so crazy.
But obviously, if the price of food went down to the price it was before inflation, that's not a bad thing. That just means you can fucking afford shit again.
This one boiled my blood. I'll tell you what, once you become class conscious, it's really hard to fucking ignore that every economist is getting you to work against your own best interests.
As a scholar once said, "economists are no better than priests".
And it's really hard to be worse or on even just on par with the child molestors in the Catholic church.
Wait until you learn about econophysics, the version of economics that gets way more accurate predictions just by stuffing economies into physics equations. Really demonstrates how unscientific economics is. Apparently it's infested with Marxists for some reason.