“A wage growth curve that looks more like a middle finger to the vast majority” is how I heard it described today.
Comment on Inflation Outpaces Wage Growth For Over 40% Of Americans
anarchiddy@lemmy.dbzer0.com 4 weeks ago
Just so we’re all on the same page - this is the same disjointed wage growth we were seeing under Biden that we were being told wasnt a big deal. It’s obviously gotten worse under Trump, but this has been a growing problem since at least the dotcom bubble
WanderingThoughts@europe.pub 4 weeks ago
spankmonkey@lemmy.world 4 weeks ago
Fairly certain it has been an issue since the 60s or 70s.
Someonelol@lemmy.dbzer0.com 4 weeks ago
I’ve always been saying it. Fiat currency leaves the value of money in the hands of too few people. Whenever their buddies start crying for help, the money hose turns on and the rest of us suffer higher prices with no wage growth to balance it.
avidamoeba@lemmy.ca 4 weeks ago
This isn’t a currency issue. The processes driving this have been observed in 19-century Britain under a gold standard. You have to look into how firms decide what to produce, how to produce it and what to do with the profits in order to build a better picture on what’s happening. If you haven’t, this was a good starting point for me.
queermunist@lemmy.ml 4 weeks ago
The ability to turn on the money hose isn’t the problem. If they used the money hose on us it’d be great! The problem is they use it to redistribute wealth to the rich and powerful, while the rest of us go thirsty.
avidamoeba@lemmy.ca 4 weeks ago
To a point subject to the real resource limits we have, but I’m pretty sure you knew that. 😊
SoftestSapphic@lemmy.world 4 weeks ago
If we still had policies that forced wealth redistribution it would work fine like it used to