I'm not disagreeing entirely with the prophets of doom, but I'm not exactly in lock step yet --
In order to have major inflation, don't we need to see wages increasing -- and wages have now been decreasing or staying about the same in this country for close to 10 years? The only people that seem to have gotten a big bump up (% wise) are the minimum wage earners, who get a raise every time the Feds step in every few years.
Most people in my company are still making less than we were making in 1999-2000. When you factor in how much wealth we've lost from our houses, 401k's, and other stock investments -- We are seeing a MAJOR loss in income. Also factor in the ridiculous double digit unemployment rates....
It seems to me that you can't have inflation if people aren't making more money to be able to afford to pay more for goods & services. When this happened in the 1970's, people were asking for raises at work, and they were getting them.
Cheers,
- Hakrjak
In order to have major inflation, don't we need to see wages increasing -- and wages have now been decreasing or staying about the same in this country for close to 10 years? The only people that seem to have gotten a big bump up (% wise) are the minimum wage earners, who get a raise every time the Feds step in every few years.
Most people in my company are still making less than we were making in 1999-2000. When you factor in how much wealth we've lost from our houses, 401k's, and other stock investments -- We are seeing a MAJOR loss in income. Also factor in the ridiculous double digit unemployment rates....
It seems to me that you can't have inflation if people aren't making more money to be able to afford to pay more for goods & services. When this happened in the 1970's, people were asking for raises at work, and they were getting them.
Cheers,
- Hakrjak
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