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Controlling inflation will hopefully be the main discussion around the next election, I am tired of watching the political theater around small side-issues and

Controlling inflation will hopefully be the main discussion around the next election, I am tired of watching the political theater around small side-issues and then paying $8 for milk and $6 for peanut butter. Why is our labor becoming worth less in real goods? Why is life expectancy decreasing? Can politicians address issues that affect every single person every day? I make good money in tech but it still feels like more than 4k/mo (in California) is what you need just to cover rent and basics (car, internet, phone, groceries, etc.). I have no idea how people working minimum wage jobs are surviving.

2OEH8eoCRo0 3y ago
So you want deflation?
- nradov 3y ago
  Some deflation, at least in basic commodities and energy, would probably be a long-term net positive for the US economy.
- throwitaway222 3y ago
  Of course. Everyone does.
  - NovemberWhiskey 3y ago
    The Japanese, who actually had it, didn't seem to think it was so great.
    - throwitaway222 3y ago
      not true: https://foreignpolicy.com/2024/01/15/japan-economy-inflation-deflation/ https://foreignpolicy.com/2024/01/15/japan-economy-inflation...
      - NovemberWhiskey 3y ago
        The article says that negative real wage growth is what's making people unhappy, not inflation; much of it is spent discussing that deflation is actually a problem.
tw04 3y ago
> Controlling inflation will hopefully be the main discussion around the next election You're conflating inflation with market gouging. Why would your local grocery store drop the price of milk? What's the incentive? You probably haven't stopped buying milk, I bet none of your neighbors have stopped buying milk. In most of the country you have at most 2 grocery chains that are probably mega-chains, and they have no incentive to compete with each other. What you're seeing at this point isn't inflation, it's market gouging and unless you're onboard with the government either breaking up these oligopoly's or setting market prices, nobody running for office is going to be able to "fix it". https://www.forbes.com/sites/errolschweizer/2021/03/18/anti-trust-is-back/?sh=17cc7ad03d6b https://www.forbes.com/sites/errolschweizer/2021/03/18/anti-... A "free market" cannot function without competition and we've spent the last 50+ years allowing and encouraging market consolidation. The results are as expected
- throwitaway222 3y ago
  We were not supposed to have the market consolidation that we've had. The FTC has been asleep at the wheel, probably because it's members are investing in companies that they are hoping to be bought out by Kraft, Nestle, Pepsi, etc...
- NovemberWhiskey 3y ago
  The definition of inflation is "a general increase in prices"; it doesn't matter why that's happening. Do you think that stores weren't trying to sell products for the highest-possible price previously? Price-gouging is not what we're seeing here - there's no supply constraint. What we're seeing is just the market price.
  - shadowgovt 3y ago
    > there's no supply constraint Where else are most Americans going to get milk than their local grocery store monopolies or duopolies?
    - NovemberWhiskey 3y ago
papercrane 3y ago
Life expectancy decreasing seems to have an obvious answer. We just had a pandemic.
skybrian 3y ago
Given the amount of polarization, it seems like very few voters will switch sides based on economics. Maybe it will affect turnout, though? US life expectancy is going up again. [1] The pandemic is over and drug overdoses leveled off. [1] https://www.politico.com/news/2024/03/21/cdc-us-life-expectancy-rises-after-two-year-dip-00148193 https://www.politico.com/news/2024/03/21/cdc-us-life-expecta...
ChrisKnott 3y ago
> Why is our labor becoming worth less in real goods? I don't think this has been true in general for a while, although it was true 2021-2022[0]. It may of course be true for you, I don't know your income! [0] https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/ https://www.statista.com/statistics/1351276/wage-growth-vs-i...

2OEH8eoCRo0 3y ago

So you want deflation?

nradov 3y ago
Some deflation, at least in basic commodities and energy, would probably be a long-term net positive for the US economy.
throwitaway222 3y ago
Of course. Everyone does.
- NovemberWhiskey 3y ago
  The Japanese, who actually had it, didn't seem to think it was so great.
  - throwitaway222 3y ago
    not true: https://foreignpolicy.com/2024/01/15/japan-economy-inflation-deflation/ https://foreignpolicy.com/2024/01/15/japan-economy-inflation...
    - NovemberWhiskey 3y ago
      The article says that negative real wage growth is what's making people unhappy, not inflation; much of it is spent discussing that deflation is actually a problem.

tw04 3y ago

> Controlling inflation will hopefully be the main discussion around the next election You're conflating inflation with market gouging. Why would your local grocery store drop the price of milk? What's the incentive? You probably haven't stopped buying milk, I bet none of your neighbors have stopped buying milk. In most of the country you have at most 2 grocery chains that are probably mega-chains, and they have no incentive to compete with each other. What you're seeing at this point isn't inflation, it's market gouging and unless you're onboard with the government either breaking up these oligopoly's or setting market prices, nobody running for office is going to be able to "fix it". https://www.forbes.com/sites/errolschweizer/2021/03/18/anti-trust-is-back/?sh=17cc7ad03d6b https://www.forbes.com/sites/errolschweizer/2021/03/18/anti-... A "free market" cannot function without competition and we've spent the last 50+ years allowing and encouraging market consolidation. The results are as expected

throwitaway222 3y ago
We were not supposed to have the market consolidation that we've had. The FTC has been asleep at the wheel, probably because it's members are investing in companies that they are hoping to be bought out by Kraft, Nestle, Pepsi, etc...
NovemberWhiskey 3y ago
The definition of inflation is "a general increase in prices"; it doesn't matter why that's happening. Do you think that stores weren't trying to sell products for the highest-possible price previously? Price-gouging is not what we're seeing here - there's no supply constraint. What we're seeing is just the market price.
- shadowgovt 3y ago
  > there's no supply constraint Where else are most Americans going to get milk than their local grocery store monopolies or duopolies?
  - NovemberWhiskey 3y ago

papercrane 3y ago

Life expectancy decreasing seems to have an obvious answer. We just had a pandemic.

skybrian 3y ago

Given the amount of polarization, it seems like very few voters will switch sides based on economics. Maybe it will affect turnout, though? US life expectancy is going up again. [1] The pandemic is over and drug overdoses leveled off. [1] https://www.politico.com/news/2024/03/21/cdc-us-life-expectancy-rises-after-two-year-dip-00148193 https://www.politico.com/news/2024/03/21/cdc-us-life-expecta...

ChrisKnott 3y ago

> Why is our labor becoming worth less in real goods? I don't think this has been true in general for a while, although it was true 2021-2022[0]. It may of course be true for you, I don't know your income! [0] https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/ https://www.statista.com/statistics/1351276/wage-growth-vs-i...