Posted on 12/31/2019 9:03:10 AM PST by SeekAndFind
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 ...
so...there are still people around collecting welfare checks WHY, exactly?
Agreed. There should be zero welfare recipients. Kick the slackers to the street.
Go Sam Kinison on them......
In less than three years, the economy moved from the Greatest Depression to the Greatest Economy in history.
Bbbbuttt what about my middle class salary for just showing up?/sarc
>> so...there are still people around collecting welfare checks WHY, exactly?
Because economists roll the “gig economy” into the job figures. Work 4 hours a week on some web page at $20/hr = 1 job.
Just sayin, $25/hour is almost double mine, and I’m considered “skilled labor”. Is it my company? My region, my industry (machining)?
I’m doing OK but dang...
Speaking of the economy, am I the only one noticing that every time the News speaks about the economy they say the last 10 years of growth?? We have only had 3 at best since the Muslim left and we elected an American as President, his/her 8 years were a frikkin depression.
I’m just guessing but I bet debt levels in the 70s are no where near where they are now. I’d be interested in seeing those comparisons. Cost of homes & university
As the above chart shows, we DO have 10 years of GDP growth, as long as the growth is not negative that is.
How else are they going to account for taxing us more?
America think what we could have done without the DEMOCRAT OBSTRUCTION. Then VOTE!!!!
And yet there is still age discrimination
I know, let me know when Wall Street and Main Street start screaming, We want the Obama Economy back.
Put a “no work” work requirement (like telemarketing) to collect welfare.
Just goes to show if you kill enough kids like this morning’s 13, you can have to import even better ones and still have a great economy with a divided populace that hates itself and each other...guilt, but love wins for gender fluid among us.
1.5 billion flushed away so man can get his orgasm and iphone.
The great news comes at a great cost.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.