Quote:
Originally Posted by cjrjck
Inflation is up about 19 percent over the last 3 years. Nobody is disputing that. Now, it may be only 3.1 percent. Is that a good thing? Remember, that is measuring the price of a "basket of goods" this year compared to the same basket of goods purchased last year. What we know is that the basket of goods is 19% more expensive today than in 2020. In that context, perhaps 3.1 percent inflation is good but in more normal times it is horrendous. The FED wants it down to a more manageable 2 percent. It is currently 55% higher than that. Nothing to cheer about.
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Real wages over inflation is UP for many people in the last 2 years. Which is good when you consider that from 1975 to 2021 real wages after inflation went up ZERO, not at all. Can you say outsourcing and union busting??????