I remember the Nixon years and the Reagan years quite well.
That's how things got to be the way they are.
People can wait until they're blue in the face and prices won't come down.
Average workers have already lost half their purchasing power, which is faster than Nixon. It just hasn't "trickled up" yet because billionaires are still reaping from their bonanza momentum.
Inflation won't stop, and will likely rise until most billionaires wake up one day and are finally only worth half what they were not long before, and that will call a halt to it. It won't stop quickly even then, but that will be the new price baseline for a while. It'll seem so stable by comparison.
The idea of Reagan's "trickle down" economics was to enable Wall Street to eventually recover what they would have made if it just didn't get as bad for them. That would have to be recovered before any prosperity would ever be available to spread downward. That's a lot of money and it wasn't going to be overnight, it was going to be a "consumer recovery" and consumers were more broke than ever in the history of the USA. There was no one else more powerless to extract it from though, and it was going to be a long haul since the devastated workers had no cash.
So it was going to have to come out of their future labor, everyone involved settled in for the duration.
More like being trickled on back then, but I would say there is something even more unsavory about it getting in your face from people now who can't even reach high enough to tie Ronald Reagan's shoes :\
And if your numbers go up, the reward is that you're eaten by someone who's numbers go up-up.
Even more likely eaten by money generated from someone whose numbers went up-up before anyone living today was ever born.
Oh I fully understand.
Hotz hits the nail on the head again.
I remember the Nixon years and the Reagan years quite well.
That's how things got to be the way they are.
People can wait until they're blue in the face and prices won't come down.
Average workers have already lost half their purchasing power, which is faster than Nixon. It just hasn't "trickled up" yet because billionaires are still reaping from their bonanza momentum.
Inflation won't stop, and will likely rise until most billionaires wake up one day and are finally only worth half what they were not long before, and that will call a halt to it. It won't stop quickly even then, but that will be the new price baseline for a while. It'll seem so stable by comparison.
The idea of Reagan's "trickle down" economics was to enable Wall Street to eventually recover what they would have made if it just didn't get as bad for them. That would have to be recovered before any prosperity would ever be available to spread downward. That's a lot of money and it wasn't going to be overnight, it was going to be a "consumer recovery" and consumers were more broke than ever in the history of the USA. There was no one else more powerless to extract it from though, and it was going to be a long haul since the devastated workers had no cash.
So it was going to have to come out of their future labor, everyone involved settled in for the duration.
More like being trickled on back then, but I would say there is something even more unsavory about it getting in your face from people now who can't even reach high enough to tie Ronald Reagan's shoes :\