As I pop out my VHS of Hervé Villechaize Gone Wild Volume VII, I’ll offer this interesting perspective of the wonderful era of prices-always-going-down we enjoyed (thanks mostly to China) back in the day. I always marveled, for example, at how checking out Ikea yielded a crazy-low price. It’s like stuff was free!
Indeed, thanks to globalization, prices basically did a fully U-turn over a period of decades.
Well kiss ’em goodbye. Deflation is over. Welcome back to the 70s.
