It seems all the economy talk I hear on radio paints it as strong, growing, and pretty rosy minus the occasional stock downturn. I look at stuff like this though and wonder how people aren’t seeing deadly omens all over the place.
But motherfuck if "inflationary pressure" isn't a synonym for "wage growth" and a reason to increase interest rates. Any time wages grew faster than inflation before the last crash the Fed stepped on the brakes, wonder why real wages haven't increased in a few decades?
I haven't read many post crash federal reserve statements so I don't know if this is still true but it was usually true since the 70's. I don't expect pony boy is on the look out for the working man but there is more than a grain of truth behind what he is saying.
They've gerrymandered the meaning of "wage" so much that it almost doesn't matter anymore. When there are twenty dozen traps for the precarious and a dozen backstops for the rich, "wages" become an abstraction.