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"When your neighbor is out of work its a recession. When you are out of work its a depression" - said someone

• forgingahead 4y ago
  When asset prices increase quickly, everything is fine, as the wealthy are benefitting. When wages increase though, that's inflation and we must tamp down hard on it!
  • willcipriano 4y ago
    This is the federal reserves stated position. https://mronline.org/2022/05/26/u-s-federal-reserve-says-its-goal-is-to-get-wages-down/ https://mronline.org/2022/05/26/u-s-federal-reserve-says-its...
    • cycomanic 4y ago
      This is absolutely ridiculous, maybe they should start by reducing his salary.
    • uoaei 4y ago
      Given the obviousness of the consequences, it's hard to imagine the Greatest Minds In Monetary Policy haven't foreseen the fact that labor is hurt and corporations are effectively subsidized when enacting such policies. So it must be intentional.
      • deleted 4y ago
        [deleted]
  • zeroonetwothree 4y ago
    Wages are not comparable to asset prices since one is an over time payment and the other is a quantity at one time. In any cases total wages (well, income) are equal to GDP so I don’t think anyone is against an overall rise (in real terms).
    • FartyMcFarter 4y ago
      > Wages are not comparable to asset prices They get directly compared when getting a mortgage though - typically there's affordability criteria including the ratio of income to mortgage amount.