ANALYSIS | There's something worse than inflation, and it's on the radar for next year
ANALYSIS | There's something worse than inflation, and it's on the radar for next year
The popular idea that prices should fall to previous lows gives most economists chills. Deflation is bad for everyone, they say.
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Im not worried about falling prices.
Are you worried about losing your job?
In the I have no money sense, yes. In the going everyday sense, no. Its really not the job that im afraid of losing but honestly the problem is losing jobs is a common occurence for folk like me and later (and im old so I assume most folks reading this with the caveat usa). Its not like I have been working the same job for 20 years with a pension built up. Serial employment is the reality and if I lose income because my wage is not going up while prices are or my serial employment is serialer. well its all the same really. Our society is increasingly putting itself is the uncomfortable position of its members have less and less to lose.
I'm asking because if deflation happens the only jobs that are safe are essential services. Want to end up with 15%+ unemployment? Wish for deflation.
maybe but I have been around for awhile and all I notice with high unemployment is the serialization gets higher but often it seems like the work still needs to get done. They try to clean house and replace with cheaper but then things don't do so well and they start filling with quality and rinse and repeat.