Only way it goes down is if there’s a recession. Pick your poison: recession or inflation. We’re damned if we do, damned if we don’t. There’s no way out of this that isn’t going to suck for a lot of people.
That’s a blatant deflection, though. We’re talking about relative food prices… If food prices go up at the same rate as wages, grocery prices wouldn’t be an issue for working Americans.
There are also issues with inflation in general, but that’s not the topic here.
If food prices go up at the same rate as wages, grocery prices wouldn’t be an issue for working Americans.
Yeah, “if.” We just need to make sure the price of food is always going up, but never at a rate that exceeds the rate of wage increase for every single wage earner. Forever. Until the sun explodes. Easy.
It’s not deflection, it’s exactly their point. In a healthy economy, inflation is low but positive, and the same or lower than the general increase in wages.
The US (and a bunch of other places) are currently having a hard time because inflation outran wage increases. In many countries, this is back under control (wages are now outpacing inflation) and we’re pretty quickly catching back up.
Part of the major problem in the US is the complete lack of regulation and unionisation. When we had similar inflation in Norway, our wage increases nearly matched the inflation, and the past two years, the wage increases have been very high compared to inflation in order to “recover”. When you don’t have any system in place to enforce this kind of response to inflation, it just leads to the owning class getting a larger share of the pie (what has happened in the US).
Only way it goes down is if there’s a recession. Pick your poison: recession or inflation. We’re damned if we do, damned if we don’t. There’s no way out of this that isn’t going to suck for a lot of people.
Only because the economic system is working as intended. There is always enough to go around, profits just get in the way of getting it around.
That’s a blatant deflection, though. We’re talking about relative food prices… If food prices go up at the same rate as wages, grocery prices wouldn’t be an issue for working Americans.
There are also issues with inflation in general, but that’s not the topic here.
Yeah, “if.” We just need to make sure the price of food is always going up, but never at a rate that exceeds the rate of wage increase for every single wage earner. Forever. Until the sun explodes. Easy.
It’s not deflection, it’s exactly their point. In a healthy economy, inflation is low but positive, and the same or lower than the general increase in wages.
The US (and a bunch of other places) are currently having a hard time because inflation outran wage increases. In many countries, this is back under control (wages are now outpacing inflation) and we’re pretty quickly catching back up.
Part of the major problem in the US is the complete lack of regulation and unionisation. When we had similar inflation in Norway, our wage increases nearly matched the inflation, and the past two years, the wage increases have been very high compared to inflation in order to “recover”. When you don’t have any system in place to enforce this kind of response to inflation, it just leads to the owning class getting a larger share of the pie (what has happened in the US).