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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.
Because TRUE inflation was higher than "official inflation" for a number of years.
Reality has reared its ugly head and you can't escape that with any "official government numbers".
You can only kick that can down the road for so long.
Social welfare programs have been boosted from FPL anywhere from 30%-300% over FPL.
CPI, unemployment and GDP calculations have all been changed and seem to reflect "better conditions".
Using the old calculations CPI is near 10%, unemployment is near 22% and the GDP is at -2%.
Issues have been masked over for several years now.
A guy up in Vermont did a local "Hansen Index" of the rate of inflation on a few items. He started back in 1986. His index of inflation went up 200% while the CPI only went up 114%. We've known for years that the CPI figures have been gamed.
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.
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.
Yes ,if the personal exemption or the AMT does not go up as well or its understating the inflation rate.. Otherwise what it does is decrease private debt on any fixed rate. That includes all those middle class debtors on fixed mortgages.
Real inflation isn't a tax, or a price increase. If lobster goes up in price only because of "inflation" then how could it every be rationed? Real inflation is just a change in the nominal cost such that a dime store and a dollar store or essentially the same. However wage inflation cancels real private debt. That does not help the wealthy at all.
Of course what I don't want to see is this just happen all over again since wage inflation will just show up in rising asset prices unless they are held in check. Too bad going back in 2008 and letting the market seek its real price level isn't an option. The best way to cure too much credit is to punish lenders as well as borrowers. So far the one's punished the most had nothing to do with any of it since a dysfunctional financial system affects everyone.
There are some people or groups of people who will always benefit from inflation, or a "downturn" in the economy. It only hurts other groups of people when there is inflation. Afterall someone is charging those inflated prices, and collecting that less valuable cash.
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.
We're looking at the past 30 years minimum wage has failed to keep up with inflation. It's not all from the past few years.
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.
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... 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.
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