Difficult Economic Changes Are Coming. Choose How You’ll Get Through Them.
Economic changes are nearly always painful. While I sincerely believe America is on track for great prosperity with regard to jobs, consumer confidence, and more reasonable prices, there’s a gap that must be bridged to get there. I wrote about this previously in the article Things Are Going to Get Worse Before They Get Better.
Let’s look at manufacturing as an example. Factories and plants won’t magically return from overseas at the snap of a finger. Facilities will need to be built or modified, workers hired and trained, and raw materials acquired. During that time, we will probably be paying more for our goods, but it’s sort of like personal finance. Paying off all your debt is strenuous, but the end result is worth it.
Consumers are stressed.
Currently, we’re seeing a shaky job market, as even more retailers and restaurants go bankrupt and other companies undergo mass layoffs to try and stay afloat. The prices of rents and homes are skyrocketing, and instead of the recommended comfortable 1/4th of one’s budget, the cost to reside is closer to half or even more of a family’s income.
The price of food is outrageous for many reasons, and the cost of a grocery store visit is higher than ever. Even sales are no longer as good as they once were. Today’s “great sales” were yesterday’s “no way in heck am I gonna spend that much money on
Article from LewRockwell
LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
