Education! Inflation is where prices increase. Whether it is bad or not is subject to circumstances.
Turkey raised the minimum wage last year by 100%. Inflation is up 70% so the lower paid are still considerably better off and probably spending more on luxuries – bigger GDP!
If a nations inflation rate is 2% and incomes are only increasing by 0.5% who’s better off? The Turks or the 2%’s? Not rocket science!
Turkey has a debt about half its GDP. America has a debt rocketing away from its GDP. Long term? America is stuffed! And that’s ignoring the bailout that was provided by the EU and China in 2008 – no repayments to date or likely. Next time? Venezuela MkII!
The problem with your sound bites is they have no context or relevance!
IgnorantFookin’Twat!
IgnorantFookin’Twat!
IgnorantFookin’Twat!