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To: ChicagoConservative27
Economics challenged person here.

What is the eventual outcome of ruinous inflation and prices never coming down? I see it as a domino effect. If people cannot afford things businesses that they used to frequent those business dry up meaning fewer people employed, fewer sales taxes being collected, more poverty, etc.

What does it finally look like in the end? And how does it get turned around?

7 posted on 08/16/2023 6:06:26 AM PDT by Lizavetta
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To: Lizavetta
Wages gradually go up and prices stay up like in the 70s. Eventually you get used to the higher prices and have to listen to Grandpa tell stories about how you used to be able to buy a candy bar for a dollar.

Consider that since the Federal Reserve was formed we have had a total of about 3000% inflation. It was funny watching Mad Men where a character was buying a 5 room Manhattan apartment in 1960 for about what I bought a car for last year.

9 posted on 08/16/2023 6:30:08 AM PDT by KarlInOhio (Democrats' version of MAGA: Making America the Gulag Archipelago )
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