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I am very concerned about the state of the economy in the near to mid term. Working class people are getting absolutely crushed by inflation and high asset pric
by mberning 4y ago
I am very concerned about the state of the economy in the near to mid term. Working class people are getting absolutely crushed by inflation and high asset prices. Many of the things people depend upon have a relatively inelastic demand (such as housing and transportation) and the money to pay for those things will come at the expense of something else. I feel that the "trickle up" effect is going to lead to low revenues, low profits, cost cutting, job loss, etc. across the board.
- joshstrange 4y ago> I feel that the "trickle up" effect What do you mean by this? Corporations are posting record profits all while raising prices. It's greed pure and simple.
- baggy_trough 4y agoAlternately, it's supply and demand.
- mberning 4y agoThey are, for now. Keep in mind those record profits are tallied in an increasingly devalued currency. So there is certainly a greed component, but it’s not the only factor. The pain of the lower classes in society trickles up to higher classes as they constrict their spending, default on loans, etc. In demand and highly compensated engineers may find themselves jobless and struggling if the economic pain carries on for too long.