Deflation is when goods and services cost less in the future and inflation is when goods and services cost more in the future.
The old media, the elite and politicians all say that deflation is bad, and you will always find pet economists appearing in the media to parrot this stance.
But let me ask you a question, how is things getting cheaper a bad thing for ORDINARY people?
For ordinary people deflation is not a problem, but inflation kills their savings and means they have to work harder in the future to buy the same goods as they can now.
Politicians love inflation because it erodes government debt (whilst also eroding peoples savings).
The elite love inflation because their profits go up and it forces ordinary people to pay more in the future and therefore work harder.
The old media love inflation because they are told exactly what to report by their masters, the politicians and elite.
I’ve just read a good book on the Peasants Revolt by Juliet Barker. The Black Death of the 14th century immensely reduced the work force. But England saw a huge economic upswing and labourers saw their wages shoot up, and landlords tried to poach labour from each other by offering freedom to serfs in return for paying cash rents. Unsurprisingly free labour was much more productive than serf labour. Nor was it bad news for landlords, as there were fewer of them with bigger estates than before, and many of them switched to sheep-farming, which proved very lucrative. By 1400, England’s GDP was probably the same as in 1350, but with half the population.
The Revolt was a good example of De Tocqueville’s view that revolutions occur when things are getting better. Most rebels weren’t poor, but rather well off peasants, burgesses, blacksmiths, innkeepers etc. even some minor gentry, and MP’s, who were increasingly literate, could afford to go to law against grasping abbots and landlords, and who were protesting over unjust taxation and corrupt government (eg you had magistrates charged with enforcing maximum wage laws cheerfully breaking them with their labour forces, landlords imposing feudal fines much more rigorously on prospering peasants).
It’s also worth noting inflation can happen in weird ways. This meant both that farm labour was more valuable, increasing wages, and food scarcer, increasing food prices. However, the cost of things like swords declined. Because so many people had died, there were a lot of weapons and suchlike that belonged to the recently departed. Inflation, therefore, was affected in opposite directions for different things but caused by the same plague.
Historically, silver and gold were used to determine value, that value varying in practical (though not nominal) terms according to the percentage of precious metal used. Nowadays, coins have very little inherent value (with rare exceptions, such as gold sovereigns).
Which does raise an interesting point. The actual coins you have are worth almost nothing. But because society all agrees to pretend they have value, they do.
Its not a recycling centre – its the council tip because people dump their rubbish and most doesn’t get reused.
You are not a liberal – you are a lefty because liberals believe in a small state/lower taxes and lefties don’t want to be called socialists
Its not a safety camera – its a revenue camera because it is used to get money from motorists, better things could be done to enhance safety.
They are not undocumented workers – they are illegal immigrants because they came here without visa therefore breaking the law.
It is not a traffic calmed area – its a traffic slowed area because the vehicles speed is curtailed not offered soothing words and a nice cup of tea.
Its not a community college – its the local school, you are not the principle – you are the headmaster/headmistress because education is full of lefties who want to corrupt the language in order to hide who they really are.
Ordinary people are wise to this and laugh at the lefties behind their backs.
Soon, ordinary people will be openly laughing at the silly foaming lefties.
University education does not make people more intelligent or cleverer than they already are.
However it does have three functions in society.
Increased education does not lead to more productivity. Rather it is increasing productivity that leads to the country being able to afford parking their young in essentially unproductive endeavors for increasing amounts of time.
Let me leave you with one last thought.
“No one can get an education, for of necessity, education is a continuing process.”
Donald Trump suspended visas from seven countries and the left went even more stupid than usual.
Barak Obama (americas first half cast president) bombed actual muslims thereby killing any children who happened to also be in the same area and the left were silent.
Remember, the left have no morality, they support their own team even if that means supporting mass murder, torture genocide etc.
The left hate anyone not on their team even if they are the living embodiment of Jesus, Ghandi and Mother Theresa doing real good.