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David Kirtley's avatar

I think that it will shake out differently.

It isn't the price of food that is causing the problem. People have been encouraged to spend most of their money on interest rather than their purchases.

The complaints about tariffs make faulty assumptions. Most of the consumer goods hit hardest are luxury items. Many of the times that are not clearly luxury items are at the very least driven by consumerism. The world will not end if they are not purchased. Maybe people will not upgrade their phone, computer, television, and car to the latest and greatest iteration of the same thing that they already have.

Most people live beyond their means. Mainly through buying things on credit that they don't need and can't afford. It is encouraged by our financial system. It is encouraged by our educational system. It is encouraged by media and advertising.

Probably the most egregious are the auto industry and the educational system. Those are the two items that cause most of the problems to people. Most of the economic problems are just those two areas that have spilled over to the rest of the economy. They paid the cost of a home on their cars and education and will be paying that off with interest for decades.

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