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.
I have to agree with you. In addition, anyone who didn’t learn their lesson after the Covid toilet paper fiasco (or even the recent power outage in Spain, Portugal, etc) should perhaps rethink things. We should have learned to stock up on essentials before “catastrophe” strikes. That includes wild fluctuations in prices as well as lights out situations. Stock up now while prices are still steady, learn to do without luxury items for the next few months, because this will level out. And remember, China NEEDS the American market, more than we need their cheap goods!
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.
I have to agree with you. In addition, anyone who didn’t learn their lesson after the Covid toilet paper fiasco (or even the recent power outage in Spain, Portugal, etc) should perhaps rethink things. We should have learned to stock up on essentials before “catastrophe” strikes. That includes wild fluctuations in prices as well as lights out situations. Stock up now while prices are still steady, learn to do without luxury items for the next few months, because this will level out. And remember, China NEEDS the American market, more than we need their cheap goods!