I agree with exception to people being paid more.Certainly,...

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Doladin

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10/02/23

14:49

Post #: 66182357
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Originally posted by kacy: ↑

"we have only had a 15 month inflation problem"

That's just the start. Do you know anyone who is talking about putting their prices down? I don't. They all say they are forced to put their prices up because of higher wages and higher input costs including energy.

Things are also not getting more productive. People don't want to work. You either pay more, or no one wants the job you have on offer. They would rather downsize and/or live off welfare payments. Or, they want to be paid for staying at home while pretending that they are doing work there.

Small businesses are crashing everywhere. They just shut the shop because it just ain't worth it anymore. Globalization is on the decline too. Factories are pulling out of China because of the huge risks there. When they move, they will have to pay more for their workers and charge more for their products.

This is beginning to look a lot like the spiraling inflation we had in the 70s, only much worse. Everybody wants more pay because prices are going up. Prices are going up because everybody is being paid more. As history has shown, it only stops when unemployment is high and people are desperate for a job and willing to work for less.

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I agree with exception to people being paid more.
Certainly, therethere are specialisations that have demanded a higher wage over Lockdowns. I don't think the bulk of the lower and middle end of the workforce are getting anything more. If they were able to eek out a 4% increase, real inflation of every day items dwarfs that amount.
I think your comment of small business closing down is understated. Lockdowns where big box stores were allowed to remain open but small business was shackled is absolutely criminal

How did they record unemployment in the 70s? I know Obama made a ridiculous change to reporting (remember also him touting "jobs SAVED or created") but between people sitting happy on welfare due to hamstrung opportunities and upwards mobility, and those working an hour a week or in the gig economy, the actual amount of the populace being a net tax payer right now must be smaller than ever.
I suspect that the powers that be would rather inflate until a revolution than lift off the gas and have a depression. I won't be selling my house (if I can avoid it)

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