2 ms·
Worker pay hasn't been keeping track with inflation for decades - this isn't new. Politicians are only concerned now because it is impacting the cash (and equiv
by olliej 5y ago
Worker pay hasn't been keeping track with inflation for decades - this isn't new. Politicians are only concerned now because it is impacting the cash (and equivalent) banks of the super rich.
In the US at least it's fairly telling that wages and similar for normal people aren't legally tied to any real measurement and require explicit corrections by lawmakers, whereas everything that benefits law makers and their donors is tied to inflation.
- aembleton 5y agoWhy haven't the super rich diversified into assets? Spread it around into different asset classes, and they should be reasonably inflation proof.
- olliej 5y agoThey have, but a bunch of their assets track cash - cash, cash equivalents, loans (e.g other people's mortgages, esp. those with fixed interest rates)