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Reply to "Wage growth in the U.S. is skyrocketing"
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[quote=Anonymous]You realize this is causing inflation right? Wage price spiral are BAD and very, very difficult to combat. Only simps this about wage hikes, the real question is how much are peoples' purchasing power and real income *after* inflation going up. I'll let you in on a secret - they're not. Inflation is running over 10% if you use the same metrics the govt used to use back in the 70s and 80s, before they manipulated the numbers to keep them artificially low. At the rate of inflation we have now, everyone's paychecks will be worth about 50% less in real terms compared to only a few years ago. Everyone's life's savings is becoming worth less and less, and people on fixed incomes are getting obliterated. [/quote]
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