As I prioritized my list of life irritants (yes, I want to make sure I don't leave any out and that each gets its proper amount of indignation!) it occurred to me that the roaring inflation that I experience every day, despite assurances from economists that none exists, is an unmeasured inflation. I call it Inflation by Subtraction.
I first discovered Inflation by Subtraction when I bought a package of hand soap. Threw it in the cart, same price as always. But when I got home and retrieved a bar, I realized it had been downsized! I don't know how much, but easily noticeable; maybe 20% or so.
Then I noticed the same thing with cereal; same price, less cereal. Then, paper towels; same price, fewer squares. Now I see it EVERYWHERE. Insurance, same price but higher deductible. Clothing, same price, lower quality. Walmart, same price, less service.
Inflation by Subtraction: It's another way we pay for budget deficits without ever realizing that it is irresponsible government that is directly, gradually, and silently squeezing the vitality out of our daily lives.
I'm convinced that Inflation by Subtraction is tangible evidence of how, and a primary mechanism by which, an oppressive government, swamped by ever increasing debt, causes each new generation to lead "smaller" lives and have lower expectations.
Consider today's college graduate. With college education costs wildly inflating, (again, government-caused by the effect of Inflation by Subtraction on universities, and direct costs imposed on universities by government mandates such as Title IX and many others), it is not uncommon for today's graduate to begin a working career with twenty-five thousand or more dollars of debt. Gone are early dreams of home ownership. Instead there is the reality of living with parents or sharing an expensive apartment with two or even three roommates.
I'd love to learn of your examples of Inflation by Subtraction, and also learn of your evolving reactions to discovering its pervasive existence.
I first discovered Inflation by Subtraction when I bought a package of hand soap. Threw it in the cart, same price as always. But when I got home and retrieved a bar, I realized it had been downsized! I don't know how much, but easily noticeable; maybe 20% or so.
Then I noticed the same thing with cereal; same price, less cereal. Then, paper towels; same price, fewer squares. Now I see it EVERYWHERE. Insurance, same price but higher deductible. Clothing, same price, lower quality. Walmart, same price, less service.
Inflation by Subtraction: It's another way we pay for budget deficits without ever realizing that it is irresponsible government that is directly, gradually, and silently squeezing the vitality out of our daily lives.
I'm convinced that Inflation by Subtraction is tangible evidence of how, and a primary mechanism by which, an oppressive government, swamped by ever increasing debt, causes each new generation to lead "smaller" lives and have lower expectations.
Consider today's college graduate. With college education costs wildly inflating, (again, government-caused by the effect of Inflation by Subtraction on universities, and direct costs imposed on universities by government mandates such as Title IX and many others), it is not uncommon for today's graduate to begin a working career with twenty-five thousand or more dollars of debt. Gone are early dreams of home ownership. Instead there is the reality of living with parents or sharing an expensive apartment with two or even three roommates.
I'd love to learn of your examples of Inflation by Subtraction, and also learn of your evolving reactions to discovering its pervasive existence.
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