2019 was a very good year, despite a dysfunctional Congress. A few weeks ago, a friend said she had noticed that clothing was getting less and less expensive and, in fact, many items seemed to be getting less expensive.
Economists call a general decline in prices, deflation and a general rise in prices, inflation. At any given time, some prices are falling and others are rising, depending on supply, demand and efficiency of production. Innovations come along, enabling people to get a better product or service for the same or lower price. Some innovations eliminate the need for some products, freeing up money to buy other things. Few people now buy typewriters or fax machines.
In the United States, there are more jobs than workers. Wages for all groups are rising faster than prices. What is particularly remarkable — and a very good sign — is that wages for the lowest income and least skilled are rising faster than other groups.
Medical advances are accelerating, with people not only surviving from many ailments that would have killed them a few years ago, but living relatively normal lives after serious cancers, heart operations and accidents. Recovering quicker and better after a medical problem is a cost reduction in the price of being ill. Serious medical scientists at leading schools now believe that we are likely to be able to reverse aging in as little as the next two decades — so hang on if you can.
Do an experiment. Pull out your iPhone/smartphone and look at all of the apps you use. Twenty years ago, if you had to buy each of the items or services represented by the apps, how much would you have had to spend?
(Excerpt) Read more at washingtontimes.com .
America think what we could have done without the DEMONRAT OBSTRUCTION. Then VOTE!!!!
Economists call a general decline in prices, deflation and a general rise in prices, inflation. At any given time, some prices are falling and others are rising, depending on supply, demand and efficiency of production. Innovations come along, enabling people to get a better product or service for the same or lower price. Some innovations eliminate the need for some products, freeing up money to buy other things. Few people now buy typewriters or fax machines.
In the United States, there are more jobs than workers. Wages for all groups are rising faster than prices. What is particularly remarkable — and a very good sign — is that wages for the lowest income and least skilled are rising faster than other groups.
Medical advances are accelerating, with people not only surviving from many ailments that would have killed them a few years ago, but living relatively normal lives after serious cancers, heart operations and accidents. Recovering quicker and better after a medical problem is a cost reduction in the price of being ill. Serious medical scientists at leading schools now believe that we are likely to be able to reverse aging in as little as the next two decades — so hang on if you can.
Do an experiment. Pull out your iPhone/smartphone and look at all of the apps you use. Twenty years ago, if you had to buy each of the items or services represented by the apps, how much would you have had to spend?
(Excerpt) Read more at washingtontimes.com .
America think what we could have done without the DEMONRAT OBSTRUCTION. Then VOTE!!!!
