The ivory tower economists just don’t get it.
Wages, either adjusted or not adjusted for inflation, have not gone up in over 8 years. Ask anyone if they had a significant raise lately.
If inflation increases for any other reason than from wage increases, we risk going into a recession again. I don’t know about you, but if my income doesn’t go up, I don’t get too excited about buying stuff I can’t afford.
Look at the local businesses that are going out of business: All of their expenses are going up but their customers can’t afford to buy.
That’s why Trump’s idea makes sense. If we all do better, the economy will take off again. This starts with tax cuts for small businesses and manufacturers, which creates more jobs, which creates wage growth, which creates more money being spent. Wash, rinse, repeat. It works. It’s not some crazy, unproven theory. Reagan already proved it.
The pussy-hat folks don’t get it and never will.
Maybe the economists get their information from the MSM or they live in DC or NYC.
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2 comments:
I understand the frustration but the state of the economy in general can't be judged by what you experience on the eastern shore. The economy is doing well in many areas of the country, people are making money, building new homes, buying $100k cars, $500k boats and supporting restaurants and businesses in their communities. In Salisbury there is a downward spiral of death. As the manufacturing jobs left there was no sense of urgency to replace them. Slowly they all went away and now there are no jobs. The housing boom provided jobs for a while but when the easy money dried up, that stopped. Regulations have stifled building here now. I scrapped plans to build a new home on my 5 acres of prime waterfront in favor of purchasing a waterfront home in another state with no set backs, septic mounds or mandated sprinkler systems.
"If inflation increases for any other reason than from wage increases, we risk going into a recession again."
Obama's heavy load of regulations is one factor driving costs up. Obamacare alone has been a killer. Add the environmental stuff in, and you have much of the cause.
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