RIP US Economy v. We shrinking

jelloslug

OT Supporter
Jul 1, 2003
60,214
Greenville, SC
If there is a shortage of employment, then wages have to go up to attract employees. Wages and costs go up, so prices go up. Wages go up, but their costs of goods also go up, so what is the impact on real wages? It's flat. A scenario like this that we're in now can certainly be inflationary.
The wage problem in the US is independent of the shortages for goods and the inflation that goes along with it. Same goes for the labor shortage. In virtually every instance, increased wages have lead to increased buying power and as strengthened the economy.
 

jelloslug

OT Supporter
Jul 1, 2003
60,214
Greenville, SC
no, i'm trying to point out there is lots of evidence of a wage-price spiral in the US in the 1970s

you made an absolute claim that is objectively false, and now you're all defensive or some shit :rofl:

it's ok to be wrong :hug:
So just admit it and go on. The late 70s could have not possible been caused by two oil embargos following an unpopular war and leading into major upheaval in the Middle East.
 

01ACRViper

Official OT LOTR Guru......... Spurs >*
Jul 12, 2001
81,007
Dallas
So just admit it and go on. The late 70s could have not possible been caused by two oil embargos following an unpopular war and leading into major upheaval in the Middle East.

jesus christ man :rofl:

did i say inflation in the 70s was caused by a wage-price spiral? i'm saying there is ample evidence (which you have been provided) that a wage-price spiral exacerbated the situation. just like today, it would not be the main cause, but it wouldn't help.
 
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stevezissou

OT Supporter
Jul 15, 2009
39,376
US
Mah LEAPS I bought last month

@stevezissou

View attachment 247716

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