I'm sorry, are you claiming that you're part of the bourgeoisie here? You're part of the proletariat if you work for a living and can't live off of investments, like the vast majority of Americans.
Trying to fit retirees into this framework is frankly insane, because they typically cannot work for a living because of their age. Their investments, if they have them (many don't), are typically drawn down using any gains to increase their savings window. Don't confuse the white collar retirement plan for the average American's savings plan. They overlap a little, but most Americans are living paycheck to paycheck and can't save even if they wanted to.
You're part of the proletariat if you work for a living and can't live off of investments, like the vast majority of Americans
We are saying the same thing
but most Americans are living paycheck to paycheck and can't save even if they wanted to.
Yeah, most Americans are proletariat. The people living paycheck to paycheck do not care if prices are going to be down next year. They need to purchase the consumer staples every single month. Elasticity of demand goes both ways
Nope, never observed. We've only seen the inverse. Recessions causing deflation. We have many example of deflation in non recessionary environments. EG the EU
Lol so if we end up in a recession and then deflation happens, are you gonna switch to crying about how it's not bad for a different reason and the proletariat magically still have their paychecks?
The Bottom Line
Deflation is the sustained decline in the price level of goods and services associated with a contraction in the supply of money and credit. The money supply is influenced by central banks. When the supply of money falls without a corresponding decrease in economic output, the prices of all goods tend to fall. Deflation can cause high unemployment, recession, or depression.
Straight from Investopedia. Show your sources if you're so confident.
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u/wazeltov 7h ago
I'm sorry, are you claiming that you're part of the bourgeoisie here? You're part of the proletariat if you work for a living and can't live off of investments, like the vast majority of Americans.
Trying to fit retirees into this framework is frankly insane, because they typically cannot work for a living because of their age. Their investments, if they have them (many don't), are typically drawn down using any gains to increase their savings window. Don't confuse the white collar retirement plan for the average American's savings plan. They overlap a little, but most Americans are living paycheck to paycheck and can't save even if they wanted to.