Quote:
Originally Posted by Aces4
Think of it this way, when you got out of high school there was a correlation between wages and costs. That has been totally skewed in the year 2024.  |
There is a double correlation between wages and costs. This is called the wage SPIRAL. As wages go UP prices for goods goes UP. But, as prices go UP that INCREASES demand for wages to go UP.
......Compared to other advanced economies the US in 2023 had STRONGER GDP and the lowest inflation.In general , after Covid people talk about the US recovering better than Europe.
.......Adjusted for inflation the 2024 minimum wage is 40% LOWER than the 1970 minimum wage. My OPINION ......is that was caused by greedy outsourcing to China.