That is debatable. In a healthy economy, prices would come down, and 'wages' would remain stable or incrementally increase.
I disagree on your inflation point. ALL countries are inflating their money supply. But, and yet, companies are still choosing to offshore production. Your complaint of inflation in a global environment only works in a vacuum.
Is that so different from what I wrote that it's "debatable?"
ALL countries are inflating their money supply. But, and yet, companies are still choosing to offshore production. Your complaint of inflation in a global environment only works in a vacuum.
ALL countries are certainly not inflating. China was but is now suffering a massive government-caused deflation. Europe's deflation is not as massive but the money supply is dropping there, too.
Japan has maintained a stable money supply for the last decade and began inflating just a couple months ago.
All countries that are inflating are not doing so at the same rate. The U.S. has been inflating since the mid-sixties (with the exception of Volcker's brief intermission in the early eighties.)
The inflation has wreaked havoc with our economy causing the development of the so-called Rust Bowl, the off-shoring of low-profit, labor-intensive manufacturing, growth in the financial industry all out of proportion to the general economy, and it has made prices and wages relatively higher here causing the trade deficit. Oh, and let's not forget three recessions.
My complaint of inflation certainly does not work "only in a vacuum," it's been working for the last 50 years exactly as I stated it. Monetary inflation is one of the greatest evils a government can inflict on its citizens.
Interesting you're so blasé about it.