 
     |
| Why we are in the shape we are in. (Page 1/1) |
|
MidEngineManiac
|
AUG 21, 02:57 AM
|
|
Found this calculator (It's for Canada but US will be close). Just for fun I did the last 15 years here. 37% inflation in that time.
have wages gone up 37% to keep pace ? NOT a chance in hell. The jobs I was making 17-20/hr at 15 years ago are still being advertised at that wage rate, sometimes even less. AND I had O/T pay and full benefits package, so closer to $30/hr averaged out. Nobody wants to give that anymore.
https://www.bankofcanada.ca...nflation-calculator/
(Yeh, it was decent money. Most of it went on cars, tools, weapons, women, booze and smokes. The rest just got wasted)[This message has been edited by MidEngineManiac (edited 08-21-2023).]
|
|
|
|
82-T/A [At Work]
|
AUG 21, 08:57 AM
|
|
| quote | Originally posted by MidEngineManiac:
Found this calculator (It's for Canada but US will be close). Just for fun I did the last 15 years here. 37% inflation in that time.
have wages gone up 37% to keep pace ? NOT a chance in hell. The jobs I was making 17-20/hr at 15 years ago are still being advertised at that wage rate, sometimes even less. AND I had O/T pay and full benefits package, so closer to $30/hr averaged out. Nobody wants to give that anymore.
https://www.bankofcanada.ca...nflation-calculator/
(Yeh, it was decent money. Most of it went on cars, tools, weapons, women, booze and smokes. The rest just got wasted)
|
|
So... maybe someone here can explain it to me in a NON-political way. I've heard individuals from the Fed (Federal Reserve) make statements that "wage growth" is pretty much the worst thing in the world... and the Fed doesn't like this. Matter of fact, everything they're doing right now is to prevent wage growth. I do really well in stocks and investments, and my own personal finances, but this is something I'm not understanding.
According to this article... the Fed is still trying to reduce wage growth. It went up significantly under Trump in 2019, and was starting to go up again under Biden in 2021:
https://www.usatoday.com/st...flation/11024220002/
This article states that wage growth is slowing significantly in 2023, and the Fed likes that:
https://www.cnn.com/2023/07...d-quarter/index.html
This article states "Why the Fed is trying to reduce wage growth" (heading, title, and caption are all different):
https://time.com/6253699/fe...erest-rates-workers/
This article states that Wage Growth in fact does NOT increase inflation, but in fact creates more opportunity due to more demand which leads to more full employment (and not fake "U3" employment):
https://finance.yahoo.com/n...drive-182006988.html
.
So again I ask everyone to consider something here... why do politicians claim they want to improve wage growth, but then the #1 thing the Fed tries to prevent every year, is wage growth?
|
|
|
|
fredtoast
|
AUG 21, 01:06 PM
|
|
| quote | Originally posted by 82-T/A [At Work]:
So... maybe someone here can explain it to me in a NON-political way. I've heard individuals from the Fed (Federal Reserve) make statements that "wage growth" is pretty much the worst thing in the world... and the Fed doesn't like this. Matter of fact, everything they're doing right now is to prevent wage growth. I do really well in stocks and investments, and my own personal finances, but this is something I'm not understanding.
According to this article... the Fed is still trying to reduce wage growth. It went up significantly under Trump in 2019, and was starting to go up again under Biden in 2021:
https://www.usatoday.com/st...flation/11024220002/
This article states that wage growth is slowing significantly in 2023, and the Fed likes that:
https://www.cnn.com/2023/07...d-quarter/index.html
This article states "Why the Fed is trying to reduce wage growth" (heading, title, and caption are all different):
https://time.com/6253699/fe...erest-rates-workers/
This article states that Wage Growth in fact does NOT increase inflation, but in fact creates more opportunity due to more demand which leads to more full employment (and not fake "U3" employment):
https://finance.yahoo.com/n...drive-182006988.html
.
So again I ask everyone to consider something here... why do politicians claim they want to improve wage growth, but then the #1 thing the Fed tries to prevent every year, is wage growth? |
|
The Fed only controls one thing. Interest rates. They raise interest rates to slow inflation. They don't raise interest rates to suppress wages.
When inflation was high most people were calling for them to raise interest rates. So I don't know what the Fed is supposed to do here. If they do nothing they get bashed for "ignoring inflation" but if they raise the rates they get bashed for "suppressing wages".
One of the articles claimed the fed "ignored corporate profiteering", but I have no idea what the Fed is supposed to do to address "corporate profiteering".[This message has been edited by fredtoast (edited 08-21-2023).]
|
|
|
|
MidEngineManiac
|
AUG 21, 07:57 PM
|
|
|
|
|
rinselberg
|
AUG 21, 08:05 PM
|
|
| quote | Originally posted by MidEngineManiac:
Bit of a long read from the 70's. Not really political and the situation then was the same as now.
https://www.fr...controls.pdf |
|
So that's what you were up to in the 1970s. A fiscal and economic policy "wonk." Were you working for an investment firm?
Who would have guessed?
|
|
|
|
MidEngineManiac
|
AUG 21, 08:18 PM
|
|
| quote | Originally posted by rinselberg:
So that's what you were up to in the 1970s. A fiscal and economic policy "wonk." Were you working for an investment firm?
Who would have guessed?
|
|
Depending on where in the 70's I was either running from the cops and teachers on my feet or my bike screaming "you cant catch me".
Serious, Rinse. I still remember, John (last name with-held) lived 4-5 houses up. I had this red bike with training wheels (what, 3-4 years old ? 70-71 ?) and had learned if I spun the back wheel up over a pot-hole in front of his house and jigged it forward I could get a launch speed going. This guy is standing on his porch screaming at me to go home and I am screaming back I'll go where I want. Got dads belt for that one ...didnt learn a damn thing though.
True story. Same theme runs through most of my "70's"....and the rest of the intervening years. 
Some things never change. 
|
|
|
|