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Not true for retirees because Social Security gets inflation adjustments. Probably not true in general either except in stagflation.

kipchak 4y ago
Social Security is about 30% of the income of the elderly according to the SSA. https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf
yazzku 4y ago
How exactly is it not true for the working mom in my example?
- astrange 4y ago
  That's stagflation, which happened in the 70s. Inflation usually means wages going up. Of course they don't all go up at the same time and people get shuffled around, which makes them really angry. But low wage workers in the US have gotten significant pay raises since 2019. In fact, they're the only workers who are making more after inflation. https://bcf.princeton.edu/wp-content/uploads/2022/10/Combined-Slides.pdf https://bcf.princeton.edu/wp-content/uploads/2022/10/Combine... …This also means wealth and income inequality are down, which maybe people will be happy about.
  - yazzku 4y ago
    This isn't a contradiction of my example. My example is pretty clear: Mom makes X before/after prices have gone up, and years after so. > Inflation usually means wages going up. Inflation is a rise in prices, that's what it means. Maybe I am being pedantic about your use of "means". > But low wage workers in the US have gotten significant pay raises since 2019. Mom in my example hasn't, so irrelevant. Why do you insist on using generalizations to try to contradict an example? My example is very real, the generalization does not apply.
    - astrange 4y ago
      Maybe you should help her find a better job. > Inflation is a rise in prices, that's what it means. Maybe I am being pedantic about your use of "means". Wages are a price for labor, so prices going up includes wages.
donkeyd 4y ago
This thread was about pricing in the EU. Even if it was inflation adjusted, it wasn't adjusted for exchange rate differences, which are a significant part of the price increase on Apple products in the EU.

kipchak 4y ago

Social Security is about 30% of the income of the elderly according to the SSA. https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf

yazzku 4y ago

How exactly is it not true for the working mom in my example?

astrange 4y ago
That's stagflation, which happened in the 70s. Inflation usually means wages going up. Of course they don't all go up at the same time and people get shuffled around, which makes them really angry. But low wage workers in the US have gotten significant pay raises since 2019. In fact, they're the only workers who are making more after inflation. https://bcf.princeton.edu/wp-content/uploads/2022/10/Combined-Slides.pdf https://bcf.princeton.edu/wp-content/uploads/2022/10/Combine... …This also means wealth and income inequality are down, which maybe people will be happy about.
- yazzku 4y ago
  This isn't a contradiction of my example. My example is pretty clear: Mom makes X before/after prices have gone up, and years after so. > Inflation usually means wages going up. Inflation is a rise in prices, that's what it means. Maybe I am being pedantic about your use of "means". > But low wage workers in the US have gotten significant pay raises since 2019. Mom in my example hasn't, so irrelevant. Why do you insist on using generalizations to try to contradict an example? My example is very real, the generalization does not apply.
  - astrange 4y ago
    Maybe you should help her find a better job. > Inflation is a rise in prices, that's what it means. Maybe I am being pedantic about your use of "means". Wages are a price for labor, so prices going up includes wages.

donkeyd 4y ago

This thread was about pricing in the EU. Even if it was inflation adjusted, it wasn't adjusted for exchange rate differences, which are a significant part of the price increase on Apple products in the EU.