The Rising Influence of Rising Affluence

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As long as companies can increase prices faster than cost and consumers continue to buy there won't be a recession. But, what happens when cost increases finally destroy demand, and sales plateau or begin to fall? Do companies respond by lowering prices, or do they try to hold prices at elevated levels? The tipping point may be approaching for many. Just waiting on the SJC ruling on student loans. If they rule against the government that's a lot of cash that won't go to discretionary spending.