Comment by cgio
2 hours ago
Do they make more money on average? Does any additional income cover the increase in cost of living? Becoming psychologically poor is much harder than becoming psychologically rich. I doubt that balance of payments goes anywhere near your average Joe’s pocket.
It absolutely does because balance of payments = exchange rate, and average Joe is poor and consumes disproportional part of imported goods vs the rich.
Imported goods which have been made more expensive by tariffs?