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But people don't have less money than before. "Stagnating" doesn't mean "going down".
by gozur88 11y ago
But people don't have less money than before. "Stagnating" doesn't mean "going down".
- ux-app 11y ago> "Stagnating" doesn't mean "going down" inflation means that today's $1 can buy less than yesterday's $1. If your wages are not increasing at least at the rate of inflation then you are steadily getting poorer. After all, 50 years ago you could buy a house in my neighbourhood for about $60k, now it's at about $500k (without any significant changes to demographic/gentrification pushing prices up).
- gozur88 11y agoOkay now, let's all get on the same page here. Wages are flat in constant dollars. Yes, we all know how inflation works.