“The bad news is our prices will triple or worse for everything we buy.“
We’ve practically seen that already in the last few years. Even the so-called “2% targeted Fed inflation” is outrageous, generally speaking it is the natural order of things, prices go down over time. Not up. Things get less expensive. Not more expensive.
They also keep making things smaller. A 50 pound bag of lawn fertilizer is now 40 pounds. Then 35. Or a “pound” of coffee is 11.235 ounces. They use ersatz ingredients, fillers, and golly knows what, sourced from golly knows where.
prices go down over time
yes technology will reduce costs of production.