I agree. To see the process of prices deflating happen on a small timeline, look to Japan. After Japan realized their cost of doing business was going to rise due to aging, their markets crashed in the 90s. In response they poured epic levels of investment into mobilizing offshore workers and completely recovered. The lesson the world took away was "money isn't real, maybe we should take on more debt".
Ironically here in the US the party of "trash international trade to increase local workers' bargaining power" is also the party of "keep retirement age the same at all costs and maintain fixed income QOL".
As we see globalization unwind from international policy and as working populations age (China peaked @ ~1 billion workers, and is declining), we are guaranteed to see prices rise as workers can demand much, much more (to the dismay of those on fixed income).
I think it'll be interesting to see this unholy coupling tear apart.
Ironically here in the US the party of "trash international trade to increase local workers' bargaining power" is also the party of "keep retirement age the same at all costs and maintain fixed income QOL".
As we see globalization unwind from international policy and as working populations age (China peaked @ ~1 billion workers, and is declining), we are guaranteed to see prices rise as workers can demand much, much more (to the dismay of those on fixed income).
I think it'll be interesting to see this unholy coupling tear apart.