RE: The Insidious Wage Deflation
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Was just talking to a cousin who graduated recently and his starting salary is about the same as mine when i graduated 15 years ago (similar jobs). Cost of living has gone way up since then of course.
This isn't sustainable and either wages need to catch up or prices need to fall otherwise there's going to be a lot of instability.
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That is insane, 15 years of wage stagflation no one will be able to save and you'll have more working poor and with automation, it's even worse, more jobs get taken away. I did a calculation, my moms, first job with no experience if I price it in gold is double my salary when I had 5 years experience and thats what like a 30 year span
Wow. It certainly is becoming unaffordable. The cost of living from the 80s and early 90s is a distant dream.
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Sadly so, and you'd think with the deflationary gains we get from improved technology and globalisation it help but they seem to be 2 forces competing against one another the deflation of efficiency and the inflationary monetary policy
Yes... a group of folks have captured inflation which is driving inequality. Will be interesting to see how this ends.
Absolutely, people underestimate the power of compounding gains and interest and when you can move capital you move that power too. Since most people deal with absolute numbers they miss out on his sinister wealth transfer