The terrifying thing is about this, and the tariffs, is that, as with any kind of self induced high, the comedown is terrible. Prices aren’t supposed to come down, especially rapidly, as it wreaks all sorts of chaos on macroeconomics. So I’m afraid, unless orange man decides to just rip off the bandaid and see what happens, that we’re going to be stuck with these things for a long time.
That’s just how prices generally work, inflation is just a constant in normal times. However, you’re supposed to have things like wage growth to offset rising prices so the effective cost of living either goes down or stays the same. We were starting to see that towards the end of Bidens run as president, but I suspect all those gains have now been lost due to republican policy.
The terrifying thing is about this, and the tariffs, is that, as with any kind of self induced high, the comedown is terrible. Prices aren’t supposed to come down, especially rapidly, as it wreaks all sorts of chaos on macroeconomics. So I’m afraid, unless orange man decides to just rip off the bandaid and see what happens, that we’re going to be stuck with these things for a long time.
Prices are not going to come down. There will be no natural ebb and flow. They will just stay high even though that makes no sense
That’s just how prices generally work, inflation is just a constant in normal times. However, you’re supposed to have things like wage growth to offset rising prices so the effective cost of living either goes down or stays the same. We were starting to see that towards the end of Bidens run as president, but I suspect all those gains have now been lost due to republican policy.