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A lesson in inflation from a 2003 Grizzly catalog
(lemmy.world)
I was cleaning out an old bookshelf and came across this 2003 Grizzly catalog. Coincidentally, I'd just received a 2023 mailer. I was shocked by the increases in price.
Some highlights:
Standard 14" band saw: $375 vs. $800
Standard 6" jointer: $400 vs. $900
4-piece Bessey K-body clamp set: $150 vs. $350
I know nothing about how inflation works, so I'm not sure whether this tracks with the price of bread or whatever, but it was eye-opening.
They spent it.... Which caused inflation. COVID money
It was a way to transfer money from the lower/middle class to the already wealthy elite. Notice how every big industry since Covid came has had “record profits”?
I'm not denying that either. Either way, it's the government and the federal reserves fault.
When you give people a bunch of money they're going to spend it. And all the businesses made record profits. Also, factor in supply and demand and prices go up. Shortages make things go up.
Don't worry though, this house of cards will hopefully fall down soon enough and we can maybe get some sanity back into the monetary system
It's capitalisms fault. The workers should own the means of production, not some retarded nepo baby born to be a ceo.
I've done quite well under capitalism.
Good for you