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Yes, the word "inflation" is pretty much propaganda. Especially when you start talking about rates of change of rates of change. People are concerned when the
by floxy 2y ago
Yes, the word "inflation" is pretty much propaganda. Especially when you start talking about rates of change of rates of change. People are concerned when they discover that they are now poorer than they were just a handful of years ago and now a box of Cheerios costs $7.
- maxerickson 2y agoThe statistics say that wage growth has outpaced inflation.
- floxy 2y agoAny sources that you can provide which integrate both of those measures (so that we are comparing prices to salary)? (and of course even if inflation and wage growth were always identical, people would be worse off as they get pushed in to higher tax brackets)
- maxerickson 2y agoThis is full time only, but it sort of clearly shows earnings outpacing CPI. https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
- floxy 2y agoQ4 2019: 362 Q1 2020: 367 Q1 2024: 365
- laidoffamazon 2y agoCorrect, it's higher than 2019. Do you think Q1 2020 was a time of mass affluence? You remember the food lines and 15% unemployment, right? It's composition effects.
- maxerickson 2y agoOnly go up? The existential dread is all about how it's worse than it's ever been before, not about how wage growth has been a little soft for a few years.
- floxy 2y agoCall it a draw? Seems flat for the past 4 years on the average. I'm glad that someone is getting better than 3% yearly raises.