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this post was submitted on 11 Dec 2023
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Deflation tends to trigger massive layoffs since revenue drops and investment becomes a worse option than saving.
Everyone always hopes that economic downturns will affect everyone but them specifically, but it really doesn't work that way.
Meanwhile we have inflation and layoffs.
Unemployment is essentially the same as it was before the pandemic, and is actually a bit lower than it was in the beginning of 2018.
Inflation is of course a problem. The point is that deflation is a much bigger problem. It's not as big an issue if you have plenty of savings to fall back on, which is to say, if you don't have savings to fall back on, you're fucked.
Unemployment is a shit metric when you can be starving, homeless, and employed. To those people, inflation is a life threatening squeeze.
Which countries do you think don't have homeless people, just out of curiosity? In the west, homelessness has almost nothing to do with actual economic factors.
You're the one who brought up layoffs, mate.
Why did you bring up a metric that you yourself are calling shit?
I just got here. But boy do I feel welcome to this conversation.
Different person
It's is quite shocking how much people on the internet decry financial illiteracy, and the turn around and demonstrate financial illiteracy.
I concur!
Ah yes, 0.5% deflation will have people clamoring to save their money instead of investing. Following your logic, prices should just never ever drop.