04-02-2021, 03:21 PM
macphanatic wrote:
This is only the beginning. Costs for a lot of products are going to go up. The only costs that may go down are apartment costs in major cities.
Yes, and from many different reasons:
1) Massive influx of $$ into our economies. The money has to go somewhere, will go to assets (and far more than NFTs and bitcoin).
2) Nationalism/end of globalization, meaning products will be made locally, fewer low-cost worker factories around the globe, higher costs for US-made products for example.
3) Climate change will make some products more expensive due to weather-induced changes in farming etc
4) Innovation has greatly dropped in terms of GDP productivity improvements; automation is coming but taking longer than many companies want. AI might reduce some costs (ie health care), but that's also unclear. And many of these 'improvements' will likely lead to far fewer human workers, so it might be cheaper for a company to make a product, there will be potentially fewer paying customers...