BlkOwndYtFam t1_iuell1n wrote on October 30, 2022 at 7:08 PM

Reply to comment by Mobile-Animal-649 in Fellow residents I know many of you are worried about heating/utility prices for winter but prepare yourself for food prices also. by IndicationOver

Are you familiar with Milton Friedman? Possibly the most accomplished economist in history. No?

Mobile-Animal-649 t1_iuf0cb3 wrote on October 30, 2022 at 8:46 PM

I had not heard of him. Thank you. I looked him up. I see your point. But the world is so so different now my friend. It’s a tough comparison

BlkOwndYtFam t1_iuf1eu6 wrote on October 30, 2022 at 8:53 PM

I don't think the world is so different as you think. The same factors are at play now as then.

Mobile-Animal-649 t1_iuf3thv wrote on October 30, 2022 at 9:09 PM

Did we have a small percentage of the country holding the majority of the money then? I ask honestly I find this educational and am not arguing so you know

This situation is getting to me bad at 15 bucks an hour

I just do t know what to do besides find another job and work even more really

BlkOwndYtFam t1_iuf5ucq wrote on October 30, 2022 at 9:23 PM

I am but a humble black scientist, not an economist. Though nearly a third of my college credits were in economics. I don't know that the concentration of wealth, admittedly an issue, has an overwhelming affect on the fact that inflation is caused by monetary policy.

I was making $12 an hour working in a parking lot full time while going to college full time. If I could do it, literally anyone can.

Mobile-Animal-649 t1_iuhjpup wrote on October 31, 2022 at 11:50 AM

It just seems to me that with so much of the wealth in America held by such a small percentage, that it would have a profound effect on inflation due to it not being circulated in our economy But What do I know

That wasn’t me that downvoted you