Re: PP in a Great Depression Scenario
Posted: Sat Nov 22, 2025 9:55 am
I still use my high-end Olympic winter mittens I bought in 1977 and the high-end vest I bought in 1980.mathjak107 wrote: ↑Sat Nov 22, 2025 2:47 amhowever many high end goods do last far longer so the greater price increases can be offset. by owning and using them longer .Jack Jones wrote: ↑Fri Nov 21, 2025 12:35 pmHmm, I don't think this last line sums it up for me. I wouldn't consider Netflix and Xbox games luxuries, like I would a Rolex.Pointedstick wrote: ↑Thu Nov 13, 2025 9:37 pm These are the kinds of stories I find a lot more interesting these days than the general rate of inflation. There's this phenomenon that's starting to be named "luxury poverty" to describe a sort of inversion of the historical norm; now poor people can now afford the latest iPhone and a nice vehicle (at least through long-term financing) but there's no possible chance they can live in a good part of a good city, and their food and healthcare bills grow all the time while quality falls. They'll be unable to build home equity and have to spend 2 hours a day driving to and from work while their health deteriorates — but they'll have a never-ending supply of Netflix and Xbox games for a low monthly price, and free 2-day shipping for all the junk they could want!
Is this inflation? Well, it's inflation of the necessities, coupled with massive deflation of the luxuries.
I would consider a good home in a good city a luxury. A necessity would be an average home in an average city.
Food is a necessity, while high quality food is a luxury.
To me, inflation seems to have a greater impact on luxury goods than on necessities.
my original north face jackets , shell and pants i bought in the 1990’s is still my winter gear today as an example
Forgetting the name of the relatively expensive store (sporting wear oriented?) that is STILL around.
