gouging should subside. If no one’s buying those $13 silver-dollar pancakes, then the prices should come down, right? But I’ll leave you with one last question: When was the last time your local restaurant slashed prices ?
Restaurants would change their prices daily (if not by the hour ), and menus were never printed but rather written on chalkboards in order to account for the constant rise in prices. To this day, Brazilians will tell you their biggest economic fear is not a recession, but rather inflation . They’ll take an economic downturn any day over escalating prices that make it difficult for the economy to function. ECONOMIC CONSEQUENCES Now, the U.S. has never experienced inflation to that degree... And I don’t believe we’re at risk for seeing anything quite like the South American genre of hyperinflation. The U.S. dollar still reigns as the world’s reserve currency... That’s huge . So while this country shouldn’t see insane inflation like Brazil, we’re experiencing rising prices. And even though it’s not of the South American variety, it takes its toll. Higher prices are here, and their effect on supply chains, labor, and thus the overall economy is still a real unknown. My biggest worry is a repeat of 1970s-style inflation – one in which economic activity is suppressed in part thanks to this lack of clarity on prices. Earnings would suffer, and prices would continue to go up – not an ideal combination. And if we wind up with more taxes as the cherry on top, then we’re looking at real economic consequences. Now in theory, at some point, the price
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American Consequences
American Co s quences
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