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pmchem posted:Granted it was not equally distributed across the population but that’s a different topic. Come on man.
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Oct 7, 2023 16:27
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Could your average pizza delivery driver and waitress couple buy a house today? Because that's what my parents did in 1988 when I was born. A full blown 2BR/1B starter home. After my sister was born, they upgraded to a 3BR/2B four years later, my dad having gone from pizza delivery to parcel delivery driver. Is that possible today, given the expected average wages of these two occupations?
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Oct 7, 2023 17:21
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drk posted:I think a lot of the consumer grumbling about inflation is that people want 2023 wages with 2019 prices. Never mind that for broad swathes of the population, wages in 2019 were already underpaid compared to the cost of living back then. Fight for $15 was a key policy people were pushing for in 2016. Nowadays I'm finally seeing $15 as the standard entry level wage in my small, lowish COL town -- but we've still experienced huge, inflationary jumps in prices just like everywhere else.
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Nov 27, 2023 21:35
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Leperflesh posted:This statement is not connected to the first two sentences you typed. The feedback loop for the Fed is about controlling inflation. Inflation is tracked by the CPI, not wages or employment. The Fed, explicitly, is willing to accept an increase in unemployment in order to slow down inflation: however, remarkably, the rapid increase in rates over the last two years has failed to produce a recession or a spike in unemployment. This suggests that what the Fed is doing is working, actually. I see.
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Apr 10, 2024 14:25
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