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Miles's avatar

Focus group of one here. As a wealthy person, inflation was less of an issue for me because I had so many assets that shot up in value. Wealth effect totally overshadowed the inflation impact, especially when my biggest expense was a mortgage I locked in around 3%.

Not trying to brag, just giving the mechanics of why inflation maybe wasn't so stressful for richer Americans. Who actually knew the prices of eggs and milk anyhow? Groceries aren't that big a share of my monthly spending.

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Rustbelt Andy's avatar

National Service! If someone can explain why there is so little discussion of national service (non military, non mandatory technically but practically mandatory eg tied to high school graduation requirement etc) as a new social glue institution, I would appreciate it.

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