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Economists say you’re wrong for wanting prices to start falling—and they point to the Great Depression of the 1930s 🤡 (fortune.com)

submitted 7 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 7 months ago* (last edited 7 months ago)

We’re not going to buy that stuff now anyway because it’s too expensive you twits

And when you have deflation, no one buys stuff, and everyone gets laid off. Then you have Great Depression Pt II. I don't mean 1-2% RIF, I mean things like entire industries shutting down, and millions of people out of work. Right now we have very, very low unemployment overall. At the height of the great depression, unemployment rates were around 25%. Right now, we're at about 4%. In 2020, at the worst of the pandemic, we briefly hit 15%. In the great depression, it was over a decade where it was all above 15%.