Consumers actually increased their overall spending despite rising costs of inflation: AP

[Person Man]

Buying anything you don't need right now is irresponsible, even if you can easily afford to do so. Individuals have to be responsible, even if the market has powerful bad actors.

[Person Man]

Buying anything you don't need right now is irresponsible, even if you can easily afford to do so. Individuals have to be responsible, even if the market has powerful bad actors.

Buying durable goods right now is actually a great hedge against future inflation.  

Of course it makes sense short term. It’s called rational irrationalism. From the folks who brought you “ I don’t want to buy anything right now because prices will keep dropping forever”. Its the same reason why you have zombie banks and businesses at the beginning of some recoveries.

[Person Man]

Buying anything you don't need right now is irresponsible, even if you can easily afford to do so. Individuals have to be responsible, even if the market has powerful bad actors.

Buying durable goods right now is actually a great hedge against future inflation.  

Of course it makes sense short term. It’s called rational irrationalism. From the folks who brought you “ I don’t want to buy anything right now because prices will keep dropping forever”. Its the same reason why you have zombie banks and businesses at the beginning of some recoveries.

What are you even talking about?

Prolonged periods of high inflation are not followed by deflationary ones, at least historically.  We're running hot at 8% right now, but even if the Fed gets a handle on things the goal is a stable 2-3%.  

Point being, most nominal prices are never going to return to pre-pandemic levels.  

but if inflation did return to normal-ish, would purchasing power improve in the future? For example, I'm waiting until I make more money before making another major purchase, or at least get all of my bonus.

[Person Man]

Buying anything you don't need right now is irresponsible, even if you can easily afford to do so. Individuals have to be responsible, even if the market has powerful bad actors.

Buying durable goods right now is actually a great hedge against future inflation.  

Of course it makes sense short term. It’s called rational irrationalism. From the folks who brought you “ I don’t want to buy anything right now because prices will keep dropping forever”. Its the same reason why you have zombie banks and businesses at the beginning of some recoveries.

What are you even talking about?

Prolonged periods of high inflation are not followed by deflationary ones, at least historically.  We're running hot at 8% right now, but even if the Fed gets a handle on things the goal is a stable 2-3%.  

Point being, most nominal prices are never going to return to pre-pandemic levels.  

but if inflation did return to normal-ish, would purchasing power improve in the future? For example, I'm waiting until I make more money before making another major purchase, or at least get all of my bonus.

Purchasing power would only improve if we had a period where wage growth was consistently outpacing inflation.  

Well, there you go. Until there is a more just alternative and/or more perfect markets, we all must both advocate our self-interest and be personally responsible.