Wages are rising, but inflation may have given workers a 2% pay cut | Hacker News Reader

Wages are rising, but inflation may have given workers a 2% pay cut

cnbc.com

32 pointspaulpauper11 comments

Is anyone surprised that the Fed printing a LOT of money and sending it out to people wasn’t going to increase monetary supply and thus cause inflation to rise?

Who are these people who the Fed is sending money to?

Banks and that trickles down to the wealthy and they buy stocks with it.

Did you not get any Trumpbux?

Just a few short weeks ago, HN was quoting official sources single digit inflation numbers. Everyone that said they were wrong was called many names, most of which included the word 'conspiracy'. For a place that prides itself on robust discussion, opinions here sure seem to mirror the prevailing narrative most of the time.

> HN was quoting official sources single digit inflation numbers.

The article also quotes single digit inflation numbers. It claims 5.4%, and compares that to nominal wages rising around 3%.

> HN was quoting official sources

Careful, now. HN is not an entity worth talking about. Stories are submitted by individuals and comments are made by individuals. We vehemently disagree with eachother on all sorts of crap. Please don't expect consistency, accountability from the readers of HN as a whole, because you'll never find it.

Okay but if wages are stagnating how is that wage price spiral going to start that is going to cause all that long lasting inflation that everyone is talking about?

Apparently the labor shortage isn't enough to drive wages up either.

There are also a bunch of people that will see their benefits get cut in September.

The semiconductor industry is busy building more capacity.

Isn't Bidens infrastructure program aimed at employing workers? Shouldn't that raise wages via full employment?

> The semiconductor industry is busy building more capacity.

How does that relate?

The idea that the chip shortage has caused price rises in many industries, which is being counted as part of "inflation", but is really just a temporary market hiccup and not a new normal.

I don't know enough about the economics to have an opinion on that debate one way or the other, but I think that's what they're referencing.

Oh FFS, conspiracy theorists come up with the most impenetrable thickets of BS.

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