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I am not saying inflation is bad. However we should separate decreased real cost of debt with employer provided wages. If prices on goods and services are incr
by ivalm 5y ago
I am not saying inflation is bad. However we should separate decreased real cost of debt with employer provided wages.
If prices on goods and services are increasing that extra money should proportionally drive wages. When people complain about how single income for blue collar employees no longer can support a family like in the times of yore it is exactly because the wages in these sectors didn’t keep up with inflation.
As an aside, in terms of home ownership, Seattle housing prices are up 20% in 2021 (more than CPI) [0]. For many tech workers (skew younger) saving for housing is a significant cost and for them the effective increase in cost may be significantly more that CPI (thus their real wage cut is even greater!).
[0] https://fred.stlouisfed.org/series/ATNHPIUS42644Q https://fred.stlouisfed.org/series/ATNHPIUS42644Q