Random Thought of the Day
Those of us who grew up in the 80s remember an era of nasty double-digit inflation. However, Reagan and Federal Reserve policies have brought rates down over time, and now, based on the Consumer Price Index, we have little or no price growth for national expenses as a whole. In many sectors (e.g. TVs and computers), we have negative inflation as prices continue to come down every year. There are are two notable exceptions – education and health care. Over the last 30 years, costs of both have risen at 5 times the rate of inflation. Here’s a trivia question – which two sectors of the economy have had the most meddling by the federal government? Hmmm…Obamacare, HIPAA, Dept of Education, FDA, government takeover of the student loan industry,…. No matter how well-intentioned, government policies always mess with the supply & demand curves of a normal market economy and add compliance costs & inefficiencies. In upcoming elections, you can bet politicians will scream for more government interference to “fix” the industries that they screwed up in the first place.
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