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Always people have been able to buy stuff they couldn't buy in the past. People in 1980 couldn't buy iPhones. Ghengis Khan and Kublai Khan, for all their wealth, couldn't even dream of iphones. Compared to their time, or even to 1980, we live in a futuristic fantasy world, where the average person can buy stuff that could hardly be imagined by 1980 people. In 1980 I was lucky to be able to get 16KB of memory for my computer. Now I can easily get 16GB or more. That's a million times as much. From my point of view, that makes me a million times wealthier.
The actual point of that post was as a reminder that the real incomes of so many people have not increased since 1980. Meanwhile price changes, quality changes, and preference changes are all reflected in the index numbers that tell us that.
I predict that soon, Americans will have so much money, they will be able to afford a product no matter where it is made. Even the high COL United States. They will be able to afford nice things for a change. And then, doing business in America will be easy and attractive again. What do you think?
The US has already hit a consumer shift where we can all cannot afford the stuff we do need, but all can afford the stuff we don't need. So education, housing, and medicine are expensive, but goods like tvs, food, iphones, and yes cars are very affordable.
I predict that soon, Americans will have so much money, they will be able to afford a product no matter where it is made. Even the high COL United States. They will be able to afford nice things for a change. And then, doing business in America will be easy and attractive again. What do you think?
I think I'd like to know what you are basing your prediction on. Please share.
However due to advances in technology and global trade some things will continue to get cheaper so that everyone can enjoy the benefits of these products.
For example, Tracphone gives you a FREE smart phone if you sign up for one of their pay-as-you-go plans.
I predict that soon, Americans will have so much money, they will be able to afford a product no matter where it is made. Even the high COL United States. They will be able to afford nice things for a change. And then, doing business in America will be easy and attractive again. What do you think?
I think you're overly optimistic to your own detriment. The specter of inflation looms large, as does the possibility of a recession sometime between 2nd QTR 2017 and 4th QTR 2018.
Based on the OP I thought I'd add some reading material as food for thought. Not for the individual predictions - but more for the conceptual problem the current economy faces. Trillions in derivatives being held by largest banks and no end in sight.
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