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comment by kleinbl00

cgod  ·  807 days ago  ·  link  ·  

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.

kleinbl00  ·  807 days ago  ·  link  ·  

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.