Expensive cashmere sweaters, big price increases in upper end leather purses, other designer goods way up in price. Why are redistributionists complaining about the high incomes of the upper classes when upper class goods cost so much? I mean, the rich people can barely afford to be wealthy. Sob.
This situation is the result of institutionalized unfairness. It starts with the consumer price index (CPI) and how the US Federal Reserve manipulates the money supply to subdue inflation. The Fed isn't managing the money supply to keep luxury goods cheap. They aren't thinking about the costs of haute couture. Shame on them. The basket of goods used to track the CPI should have Chanel and YSL leather handbags added to it. Time to get luxury goods inflation out of the closet. The Federal Reserve should stop ignoring the wealth-robbing inflation that is stealing from the upper class.
|Share |||By Randall Parker at 2013 December 29 10:13 PM|