Yes, but how long do we remember inflation? I said our reaction to it is a lagging indicator and used my grandparents. I mentioned the 5 years of no inflation will not get the Big Mac meal back under $10.00. Are we doomed to cry about 2019 prices for the next 70 years? When do we set new price points in our mind? I am not defending where we were during the really high inflation. I am suggesting where we are is acceptable and barring a crisis of unimaginable scale, that Big Mac combo isn't coming back down under $10 ever.
I theorize that UPS workers, even with their huge contract that dwarfed inflation, are still mad about inflation.
I imagine law firms have adjusted their billable amounts to somewhat offset inflation. Wages are going up faster than inflation, and have been for 18 months. WAGES. There should be a lot of people doing better, surveys don't suggest that. In our minds, we want the huge raise but want everything else to cost the same. Wage growth is one of the top causes of inflation, so it just can't happen.
At some point we have to fix a new price point in our minds and move on. Fixating on 2019 prices isn't going to solve anything. We are close to where we need to be. That is good.
This isn't a commercial for Harris, if people want to vote Trump because inflation WAS too high, fine. I'm not trying to sell that part of it. Just we need to reset our price points and move on.