RE: if you spent 100 last year on something that costs $105 today, the economy did not ‘grow’ at all.
Well, the prices of Oil and energy have dropped a lot.
I am paying 20% less for gas than before.
that should be a huge boost to your pocket and mine.
The fallacy is the calculation of differences. So your gasoline bill went down and your grocery bill went up. Is you gasoline consumption anywhere near your food consumption?
I would think your family total food expenditure would exceed your family total gasoline expenditure.
Net, net..........there was an increased cost