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Someone who is egotistical is full of themselves, completely self-absorbed. The prefix ego refers to a person's sense of self, or self-importance. To be egotistical is to have an inflated view of self-importance - basically to think you are better than everyone else.
Inflation. Runaway inflation. Or, the big one - Hyperinflation - rapid, excessive, and out of control general price increases in an economy. While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation, typically measuring more than 50% per month. This also - does not sound good. Or, can inflation be a good thing, sometimes?
I am NOT an economist. Not even close. But I have been in business since 1983. And, I got my drivers license in the 70's during the gas crisis. I am like that Insurance TV commercial: "I know a thing or two because I've seen a thing or two...."
I came of age in the 1970's and I remember what that terrible period was like. Today, I feel that the current run-up in prices is a temporary phenomenon, sparked by supply shocks tied to the pandemic, and pent-up demand from consumers - not the beginning of a persistent, upward spiral like the one that spawned "stagflation" in the 70's.
We lived it. It was not that long ago. The BEST thing that anyone can do, is to do a little personal research on exactly what inflation is - and what it is not. By 1983, inflation had retreated back to just over 3%.
The generation that were adults in that high-inflation period will always remember it. But there are a lot of Americans that never lived with inflation at all. So naturally, they don't expect it - and they certainly don't understand it.
If you want to fill your brain with some easy to understand inflation stuff, click here.
In 1970 the cost of a cup of coffee was $0.25. 1980, $0.45. 1990, $0.75. 2000, $1.00. $2010, $1.25. $2020, $1.75. Now hot water is hot water, so - did coffee beans really change that much over time? Now - what is the cost of a cup of coffee when YOU make it in YOUR OWN KITCHEN, and fill a thermos to take the coffee WITH YOU to work? Or - do you work at home - so no need to buy coffee at all? See, you have more control than you think you do.
Inflation, like most things in life, has two sides to the same coin. Everything in moderation, right? Just like ego. A healthy ego, vs. a narcissistic ego. Since you got to have an ego, you might as well have a healthy one.
"Everything in moderation, including moderation." ~ Oscar Wilde.