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>... The data says wages outpaced inflation The data are aggregate measures. I have no doubt that for, say, the top 20% of earners, wages did outpace inflatio
by drawkward 2y ago
>... The data says wages outpaced inflation
The data are aggregate measures. I have no doubt that for, say, the top 20% of earners, wages did outpace inflation. Maybe the next 30% were able to tread water. The bottom 50%, however, are likely on a sinking ship.
- supportengineer 2y agoWhy does the richest country in the history of the world allow 50% of its workers to be on a sinking ship? That is the question
- drawkward 2y agoBecause it was bought by billionaires.
- fuzzfactor 2y agoNot just billionaires so much as multi-billion-dollar corporations that are too big not to be stronger than (indebted) government and control politicians. It's been a while but lots of the real gems (precious metals too) have already been sold for a profit so there's not as much upside as there was traditionally. Without hard-asset inflation, the dollar could turn out to be one of their least-performing assets, and you know they can't have that.
- WalterSear 2y agoBecause it's foundational social contracts rely too heavily on the Fundamental Attribution Error.
- KiwiJohnno 2y agoAnd the (simplistic) answer is because many of those 50% vote Republican, because the Republicans say they will fix things and yet always make things worse for the bottom 50%
- tyingq 2y agoThe obvious example being minimum wage earners.