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Inflation and wage stagnation is not loss of wealth. Wealth is an amount. Income is a flow. These have different units. Most people have debt - inflation tran
by SideQuark 4y ago
Inflation and wage stagnation is not loss of wealth.
Wealth is an amount. Income is a flow. These have different units.
Most people have debt - inflation transfers value from lenders to borrowers, so tons of people with car loans and college loans and mortgages are better off as inflation lowers the effective amount they owe.
Wages have increased significantly as inflation rose.
And no matter how you slice it real incomes have increased vastly over the past 40 years, e.g., https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N
- hgsgm 4y agoHousehold income is not wages per person. Getting married doubles average household income for those people. Getting a job and hiring a nanny, maid, and gardener creates fictional household income, because homemaking is assigned $0 value by the Fed.
- SideQuark 4y ago>Household income is not wages per person. True. But it increased because personal income increased: https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N Furthermore, two income households have decreased as less people get married, so the personal income is even greater than that graph. >Getting a job and hiring a nanny, maid, and gardener creates fictional household income, because homemaking is assigned $0 value by the Fed. That's just nonsense. First, very few households have any of those, and certainly not the median house. And, as the graph above shows, median personal income has vastly increased over the same time. If you want to make stuff up, try looking up the data before making false claims.