Inflation's not so bad..
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I heard a vox conversations podcast yesterday that ended on the idea that inflation is good for workers (i.e., uber drivers are getting paid more now), and people who pay higher prices are justified in feeling annoyed - but should feel happy that low-income wages are going up.
Really weird argument.
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@Mik said in Inflation's not so bad..:
What good will rising low income wages do if it's just eaten by rising prices?
Exactly!!! Seems pretty obvious. If you are making 5% more but paying 10% more for things.........
Well, you do the math. LOL
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@xenon said in Inflation's not so bad..:
I heard a vox conversations podcast yesterday that ended on the idea that inflation is good for workers (i.e., uber drivers are getting paid more now), and people who pay higher prices are justified in feeling annoyed - but should feel happy that low-income wages are going up.
Really weird argument.
Ezra and Matt Y are the only sane people at Vox. But Ezra will always bend over backwards to accommodate the insane. Because it’s the inclusive thing to do. You should hear the Vox economic literati when they discuss how the stock market only matters to the top 10%. They don’t personally know anybody who owns stocks, you see.
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@taiwan_girl said in Inflation's not so bad..:
@Mik said in Inflation's not so bad..:
What good will rising low income wages do if it's just eaten by rising prices?
Exactly!!! Seems pretty obvious. If you are making 5% more but paying 10% more for things.........
Well, you do the math. LOL
Actually that math only really works if you spend everything you make. If you have a margin of saving power then inflation that includes salary could still work to your favor. But people generally do spend everything they make, so your point mostly holds.
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U.S. consumer prices unexpectedly rose in August and underlying inflation picked up amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday.
The surprisingly firm inflation readings reported by the Labor Department on Tuesday followed in the wake of recent data showing labor market resilience. The reports suggested that inflation could remain elevated for some time. Fed Chair Jerome Powell reiterated last week that the central bank was "strongly committed" to fighting inflation.
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We had a meeting with a number of big European customers last week, and the consensus from their management was that overall the US is likely to do a lot better than they will.
Spin that how you will, but there are worse places to be right now.
The day my brother finally wired my share of my mother's savings over a week or so ago was graced with the headline "Pound at lowest level against the USD since 1985". How I laughed.
Proud supporter of Plan 2525. Everything you think, do and say will be in the pill you took today.
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@Copper said in Inflation's not so bad..:
Inflation is killing the market today.
Which is killing those IRA accounts invested in the market.
Mr. Biden has wiped out many years of savings today.
Maybe the market will go up again someday.
Calm down, it can always get worse!
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Education is extremely important.
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@Horace said in Inflation's not so bad..:
Today is absolute market carnage.
Yup…So what should I buy right now?
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@LuFins-Dad said in Inflation's not so bad..:
@Horace said in Inflation's not so bad..:
Today is absolute market carnage.
Yup…So what should I buy right now?
Dunno. This market is scary. Not low enough for confident buys though IMO.
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Not long ago, Fed Chair J. Powell told everyone to expect “pain” in inflation fight. Then just yesterday, some JP Morgan released an analyst host says “soft landing” looks more likely than recession, and that got rather widely publicized. Boy, that JP Morgan analyst must feel so silly today.
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@LuFins-Dad said in Inflation's not so bad..:
@Horace said in Inflation's not so bad..:
Today is absolute market carnage.
Yup…So what should I buy right now?
Whisky?
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TBH, I don't understand - why exactly was it called The Inflation Reduction Act?
