▲ 481 ▼ Inflation Outpaces Wage Growth For Over 40% Of Americans (www.forbes.com) submitted 1 year ago by FenrirIII@lemmy.world to c/workreform@lemmy.world 48 comments fedilink hide all child comments cross-posted from: https://lemmy.world/post/33655253
[–] floofloof@lemmy.ca 37 points 1 year ago (3 children) I'm surprised it's only 40%. permalink fedilink source hideshow 6 child comments replies: [–] echutaaa@sh.itjust.works 45 points 1 year ago (1 child) The feds measure of inflation is deeply flawed because of the politicized basket of goods it uses, that’s why it’s seems so low. permalink fedilink source parent hideshow 2 child comments replies: [+] misteloct@lemmy.dbzer0.com 4 points 1 year ago* (last edited 8 months ago) (1 child) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] Aceticon@lemmy.dbzer0.com 3 points 1 year ago* In the GDP calculations, the Official Inflation will "deflate" the GDP number calculated in today's money (the Nominal GDP) to produce the Official GDP number (the Real GDP), so if the Official Inflation is lower than reality, the difference in inflation pretty much "leaks" into a higher GDP number than it should be, or in other words, officially it looks like GDP growth. You might have noticed just how much politicians celebrate that they've "made the Economy grow" using the GDP Growth figure. Massaging the Inflation is an easy way to create GDP "Growth" in the official figures and is far more indirect and obscure than massaging the GDP figures themselves so less likely for those doing it to be caught and even if they do only a handful of people actually understand the true significance of what has been done. permalink fedilink source parent [–] HubertManne@piefed.social 12 points 1 year ago yeah I am very skeptical its only 40%. I find it hard to believe anyone working for a wage that does not include a contract with a golden parachute is keeping up with inflation. permalink fedilink source parent [–] EvilEdgelord@sh.itjust.works 8 points 1 year ago (1 child) Over, 40% is the minimum. permalink fedilink source parent hideshow 2 child comments replies: [–] Tollana1234567@lemmy.today 1 point 1 year ago thats the "poors" of the country. .05 is the billionaires. permalink fedilink source parent
[–] echutaaa@sh.itjust.works 45 points 1 year ago (1 child) The feds measure of inflation is deeply flawed because of the politicized basket of goods it uses, that’s why it’s seems so low. permalink fedilink source parent hideshow 2 child comments replies: [+] misteloct@lemmy.dbzer0.com 4 points 1 year ago* (last edited 8 months ago) (1 child) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] Aceticon@lemmy.dbzer0.com 3 points 1 year ago* In the GDP calculations, the Official Inflation will "deflate" the GDP number calculated in today's money (the Nominal GDP) to produce the Official GDP number (the Real GDP), so if the Official Inflation is lower than reality, the difference in inflation pretty much "leaks" into a higher GDP number than it should be, or in other words, officially it looks like GDP growth. You might have noticed just how much politicians celebrate that they've "made the Economy grow" using the GDP Growth figure. Massaging the Inflation is an easy way to create GDP "Growth" in the official figures and is far more indirect and obscure than massaging the GDP figures themselves so less likely for those doing it to be caught and even if they do only a handful of people actually understand the true significance of what has been done. permalink fedilink source parent
[+] misteloct@lemmy.dbzer0.com 4 points 1 year ago* (last edited 8 months ago) (1 child) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] Aceticon@lemmy.dbzer0.com 3 points 1 year ago* In the GDP calculations, the Official Inflation will "deflate" the GDP number calculated in today's money (the Nominal GDP) to produce the Official GDP number (the Real GDP), so if the Official Inflation is lower than reality, the difference in inflation pretty much "leaks" into a higher GDP number than it should be, or in other words, officially it looks like GDP growth. You might have noticed just how much politicians celebrate that they've "made the Economy grow" using the GDP Growth figure. Massaging the Inflation is an easy way to create GDP "Growth" in the official figures and is far more indirect and obscure than massaging the GDP figures themselves so less likely for those doing it to be caught and even if they do only a handful of people actually understand the true significance of what has been done. permalink fedilink source parent
[–] Aceticon@lemmy.dbzer0.com 3 points 1 year ago* In the GDP calculations, the Official Inflation will "deflate" the GDP number calculated in today's money (the Nominal GDP) to produce the Official GDP number (the Real GDP), so if the Official Inflation is lower than reality, the difference in inflation pretty much "leaks" into a higher GDP number than it should be, or in other words, officially it looks like GDP growth. You might have noticed just how much politicians celebrate that they've "made the Economy grow" using the GDP Growth figure. Massaging the Inflation is an easy way to create GDP "Growth" in the official figures and is far more indirect and obscure than massaging the GDP figures themselves so less likely for those doing it to be caught and even if they do only a handful of people actually understand the true significance of what has been done. permalink fedilink source parent
[–] HubertManne@piefed.social 12 points 1 year ago yeah I am very skeptical its only 40%. I find it hard to believe anyone working for a wage that does not include a contract with a golden parachute is keeping up with inflation. permalink fedilink source parent
[–] EvilEdgelord@sh.itjust.works 8 points 1 year ago (1 child) Over, 40% is the minimum. permalink fedilink source parent hideshow 2 child comments replies: [–] Tollana1234567@lemmy.today 1 point 1 year ago thats the "poors" of the country. .05 is the billionaires. permalink fedilink source parent
[–] Tollana1234567@lemmy.today 1 point 1 year ago thats the "poors" of the country. .05 is the billionaires. permalink fedilink source parent