I know an author that has been pushing deflation for a long time. Never really believed it. Still don’t
But I am an engineer. My equations have to balance. Economics doesn’t
Yeah, it is counter intuitive, I admit.
I am approaching 76 and I am neither an engineer or an economist. I do know one thing though, when I was 23 I was already considered a failure because even though I had a high school diploma, had served a three year active duty tour in the US Navy, had an electronics certificate for completion of a 38 week Navy school, was employed in the manufacturing engineering department of a bearing factory, was renting a three bedroom house and driving a NEW 1967 Mustang I was still a single man. One sixty year old woman I had just met actually told me to my face that I should be ashamed of myself because I was not married yet!!! Compare that to today when my step grandson at the same age is a hero because he is an employed college graduate even though he owes a huge debt for college tuition and his income when adjusted for inflation is lower than mine was at the same age. I am proud of his accomplishments but I shudder to think what kind of future he is facing in this mad world.