Replies to post #29006 on Your Economy (No Politics) (YE1)

[skono4]

The difference is your $15K family is struggling and unfortunate and the second family is just plain foolish. The distinction is critical. In our society we have spent literally trllions of dollars fighting poverty. This is supported politically on basic moral grounds and economically under the pretense that we are all better off dealing with less severe poverty amongst us.

Here's the glitch. The primary driver of inflation is the ever increasing spending programs we employ to satisfy our education, health care, transportation and retirement systems for the elderly and all the many millions of government employees serving the poor and elderly across the country. That's because we borrow money to meet those needs.

We have been printing money and debasing the money supply in this effort. Where we draw lines between the struggling that need help and the foolish who need a smack in the head by reality is going to impact the price of tea in China...........and the price of everything else as well.