Somebody explain economics to me.
So prices go up every year - a chocolate bar that used to cost 25 cents now costs a dollar.
A house that used to cost 70 thousand, now is probably around 300 thousand.
At the same time, people's salaries have gone up. Unions demand and get a raise most years guaranteed in their contracts. When I was young, a salary of 30 thousand was a really good wage - someone today in the same job probably expects 6 figures.
My question is...what's the point? If we are all basically just able to buy the same amount of stuff that our parents did, if relatively, everything costs pretty much the same as it used to - then why do we bother with this whole inflation thing?
I mean - where does it end? 1000 years from now, will the joe middle clasee person be making a million dollars and spending $10 on a chocolate bar?
The sad thing is - I have a degree in Business