3 ms·
Debtors only benefit from inflation if their pay actually goes up. If you were making $15/hour 1 year ago and still making $15/hour now, you just get fucked.
by ryathal 4y ago
Debtors only benefit from inflation if their pay actually goes up. If you were making $15/hour 1 year ago and still making $15/hour now, you just get fucked.
- lamontcg 4y agoThis is why the headlines to focus on are the ones not about inflation, but about wage increases and unionization happening right now. > Consumer spending climbs sharply again — and not just because of inflation > Rising incomes partly cushion Americans against high inflation https://www.marketwatch.com/story/consumer-spending-climbs-sharply-again-and-not-just-because-of-inflation-11653655888?mod=mw_latestnews https://www.marketwatch.com/story/consumer-spending-climbs-s... But rising wages and the threat of a wage-price spiral and the effect on debts is precisely why the Fed is indicating they're going to crash the economy.