Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
i find that the word "inflation" is not specific enough to convey anything meaningful.
inflation could be measured as wage inflation ... or as asset price inflation ... or commodity price inflation ... or CPI including energy... or CPI excluding energy... etc.
one of these may be inflating at the same time that another is deflating.
Yeah, talking about inflation is sort of like taking a leak without talking about whether it was Miller Light or Dom Perignon in the beginning.
Minimum wage increases are tax increases. A minimum wage hike has an effect on other prices, for goods and services. That is where the tax part comes in. No one wants to say it but that is just another idea posed by the wealth distributors to get more tax from everyone.
Here's BLS data for food price changes over the past year for the midwest. Bacon has gone up 13% over one year is one example.
If your diet consists primarily of bacon, you are not going to live long enough to have much concern over what the price might be doing. Meanwhile, there are thousands of prices surveyed every month in compiling the CPI-U and related measures. There are always some prices that are going up, some that are going down, and some that are staying about the same. Those are the only three things that can happen, you know. The role played by bacon prices is of course insignificant. Overall inflation has been moderate over the past year, and so has inflation in food prices.
Minimum wage increases are tax increases. A minimum wage hike has an effect on other prices, for goods and services. That is where the tax part comes in. No one wants to say it but that is just another idea posed by the wealth distributors to get more tax from everyone.
Modern computing technology makes detailed analysis of such claims possible. These include monitoring every US county against every contiguous county that has a different minimum wage. What is seen from such analyses is that increases in the minimum wage consistent with historical precedents result in no measurable increase in either inflation or unemployment.
inflation could be measured as wage inflation ... or as asset price inflation ... or commodity price inflation ... or CPI including energy... or CPI excluding energy... or in the context of absolute currency value .... currency vs. other currencies .... currency vs. gold, etc. one of these may be inflating at the same time that another is deflating.
This is called complexification. As generally understood, inflation itself is simply not a complex subject. Agree on some basic ground rules (such as that the CPI includes energy by definition), and away you go.
The fact that nationwide, we are seeing legislation that seeks to increase minimum wage from 30% to 100% is proof positive that inflation is surging and that the government statistics about inflation are pure fantasy.
The irony of it all is that the more you increase the minimum wage the less those wages are worth because of inflation. It hurts the very same people that they claim to wanna help.
If your diet consists primarily of bacon, you are not going to live long enough to have much concern over what the price might be doing. Meanwhile, there are thousands of prices surveyed every month in compiling the CPI-U and related measures. There are always some prices that are going up, some that are going down, and some that are staying about the same. Those are the only three things that can happen, you know. The role played by bacon prices is of course insignificant. Overall inflation has been moderate over the past year, and so has inflation in food prices.
Pork, beef and chicken are at record high prices.
You don't food shop much if you haven't noticed that spike.
Last summer's mid west and plains drought is coming home to roost. Some of these costs have been held down, but not because of wages. The past 13 years since the recession of 2001, our standard of living and affordability for the middle class and lower income earners has dropped more than the 30 years prior, combined.
Of course I have no data to back up, but the erosion of working class jobs has to have had a lot to do with it.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
