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Consumers are squeezed as inflation outpaces wages - Yahoo! News (http://news.yahoo.com/s/ap/20100115/ap_on_bi_go_ec_fi/us_economy;_ylt=ApDrJuuES7WmKbkAGKOxx..yBhIF;_ylu= X3oDMTJib3VzaGxjBGFzc2V0A2FwLzIwMTAwMTE1L3VzX2Vjb2 5vbXkEY3BvcwMyBHBvcwM1BHNlYwN5bl90b3Bfc3RvcnkEc2xr A2NvbnN1bWVyc2FyZQ-- - broken link)
Consumers are squeezed as inflation outpaces wages
Quote:
WASHINGTON – American families were squeezed last year as their inflation-adjusted weekly wages fell 1.6 percent — the sharpest drop since 1990 — even as consumer prices rose only modestly.
More good news under obamanomics.
The hits just keep coming for the workers of America and they are not likely to get better as long as obama's radical plans of tax and spend are on the table.
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The worst thing is that inflation hurts the poor most, as the rich can simply move their assets into something safe.
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