Why is the cost of living going up when technology should allow humans to increase productivity while decreasing human workload?
In: Economics
Technological progress should be a deflationary force. As we get better at making things and doing things those things should get cheaper. Instead our government (USA for me, but every country does it) has taken control over our money and instituted an inflationary monetary policy. They create this inflation by printing money for nothing. So instead of widgets getting cheaper every year they get more expensive. This has been going on all of our lives so it seems normal. Where does all that money go? Mostly to the uber rich and to make bombs, planes, and warships which we use to fight proxy wars all over the world. None of these things support the average joe’s standard of living.
Ever since COVID the money printing has gone into overdrive. It is increasing exponentially with no end in sight. The inflation that the government used to work hard to keep at 2% is spiraling upwards so much that average joe is starting to notice. The usual tricks of manipulating statistics and controlling the media are getting less and less effective. It won’t be long now before there is a reckoning. Exponential processes are like that. I hope you have savings because it’s gonna get real rough.
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