Economists say you’re wrong for wanting prices to start falling—and they point to the Great Depression of the 1930s

14 comments

1. prices can continue to rise as long as incomes do as well, if wages went up 20% and inflation was 10%, nobody would be complaining because you would have more in real terms

2. Economist are not wrong, people have trouble looking past the short term (right now) and I don’t blame them. That’s almost people have the ability to contend with. Just because economists are correct when they look at the larger timeline which undoubtedly is longer than most people’s lifespan in the long term, in “their” short term they’re talking about years. Most people have no concept of the reality that they didn’t live through or where they will be in 2-3-5 years from now. Most people almost certainly don’t think the downside to deflation will be as bad as it almost certainly would turn out to be.

   It’s an incredibly s***** position for economists and the real world. Everyone’s talking past one another, there is no world in which deflation is good except to alleviate short-term pain, that’s not a conversation anyone wants to have. People want relief now, because now is all that matters. Sadly the reality is that short-term relief is like putting a Band-Aid on a broken arm, you can’t have that conversation with someone who’s looking for short-term relief though.

   The monetary consequences of deflation are staggering, nobody wants that.

3. Its pretty basic math at this point tbh

   Prices CANNOT fall to 2019 levels and we all just have to suck it up and keep moving forward- recalibrate and try again to get some accountability laws

   Whats done is done!

   If prices go back to 2019 level- thats Deflation at this point, and a pretty major one

   Deflation = major recession that is WORSE than 2008, the worst one we saw since the actual depression almost a 100 years ago( and as the article states- it will be a Depression)

   When that happens – people will be competing for jobs at your local mcdonalds, which was the case in 2008

   People have to stop whining now and move on.

   This is life and we have to now pivot and accept reality- its bad yes- but it can get a loooot worse.

4. It’s easy to get your wages to rise. Just stop voting for Republicans.

5. I’m willing to give deflation a try…fukallyall

6. The article actually only is quoting Central Bankers, and not any actual Economists. Low quality click bait. Then tries to sell you a subscription to that has-been rag Fortune.

7. If corporations and government want prices to stay high than wages need to rise. How do they expect a person who is only making $25,000 to survive, or how does someone on disability or retirement survive when their only getting the minimum payment or anything under $2000. This is absurdity, we need the government to reign in on massive wealth inequality, people need basic necessities, nothing lavish. Universal Healthcare would be a great start and raising the federal minimum wage would be another. We are treated like complete crap in the USA with our pathetic labor laws and underfunded public education.

8. I’d much rather prices moving higher / becoming more unaffordable!

9. Propping prices up through debt is also a wrong move. Prices should come down through bankruptcies and competition.

10. Nope need a big crash to reset the inflated bullshit this country has propped up. It’s a natural cycle. Yes people will suffer a bit but it will recover eventually.

11. Click bait….There was slight deflation following 08… this is not a simple 1 variable situation and too simplistic, this is absolutely a multi variant analysis to come to a proper conclusion on deflation. I’m sorry but as people have alluded to, inflation that grossly outpaced real wages is horrific as well.

12. Unless it’s wages, then that’s a correction. If it’s prices, then that’s bad because it’s deflation.

13. I’d like to have hope for the future but that’s too much to ask.

14. Tell that to those who cant get a pay rise big enough to make a difference