Do you know that inflation erodes the purchasing power of the middle class and anyone who has the sense to save (yeah a forgotten concept in this debt binge house of cards economic we have nowadays).You do realise that deflation negatively affects wages, right? It's not some sort of magic Boxing Week Sale kill switch.
Do you know that the cost of things that one needs to survive and sustain life has risen exponentially while incomes have gone nowhere?
When I graduated university in 1999, the starting salary of an Engineer was roughly 50K (mine was 55K). Today, its maybe 55-60 (undergrad degree).
Lets see now, I paid $3800 tuition in my last year of a electrical engineering degree from Ontario University in 1999. My starting salary was was 55K. In the same year I graduated, my parents bought their home in a northern Toronto suburb for 280K. Now that house sells for 1.4-1.6m.
1999 Starting Salary for undergraduate level Engineer: 50K
1999 Tuition full year Electrical Engineering: $3.8K (my first year tuition cost = 1.8K)
1999 Toronto suburb detached home (2500 sqft): $280K
2017 Starting Salary for undergraduate level Engineer: 60K
2017 Tuition full year Electrical Engineering: $12.2K (first year tuition cost)
2017 Toronto suburb detached home (2500 sqft): 1.4-1.6m
Note: the tuition numbers do not include cost of books, which has also risen exponentially.
Inflation has done a great job hasn't it?
Incomes haven't done jack all while the cost of everything one needs to survive and thrive has ballooned.
No one needs a flat screen tv. People need a roof to live under, education, books, healthcare etc.