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I've been hearing this low-inflation nonsense for years. Okay, 1 lb. of chicken is still $4 at the grocery store, same as it was 10 years ago, but I'm guessing
by hiram112 10y ago
I've been hearing this low-inflation nonsense for years. Okay, 1 lb. of chicken is still $4 at the grocery store, same as it was 10 years ago, but I'm guessing the cost of that chicken has been cut in half considering the 'chickens' are now HGH mutants and the workers virtual slaves that aren't allowed to take a piss during their shift.
On the other hand, I just looked at the cost of my public university: 100% increase, flat out, on tuition, compared to what I paid 10 years ago. In the expensive east coast city in which I live, home prices have doubled since the market crash in 2008. My medical insurance went from $10 copays a few years ago to my current 'catastrophic' plan; this means I pay 100% out of pocket for EVERYTHING until I hit a $2000 deductible. My premiums have not gone down.
So in essence, inflation seems rampant in those products in which the majority of my income is used.
Things that I spend a few percent of income (food, junk from Walmart, electronics) seems to have stabilized in price, yet is in every way inferior to past versions. And the costs to manufacture have dropped precipitously since technology has improved so much while third world wages have become the norm for the owners, even now in the West.
So what's this BS about low-inflation?