RE:RE:My Local Economy Appears Strong! Strange :-)So true. There is a real psychological foundation for inflation. People behave LIKE PRICES WILL RISE so it is a self fulfuilling prophecy.
In my days I saw plenty of people ask...what will prices be like next year?...then conclude they would raise theirs now
cpeczek wrote:
Its a bit of a feedback loop. Someone important predicts a recession, a newspaper writes a story about it, other newspapers write stories about it, people read the news and start to cut back on spending. Public opinion leads to worse outcomes