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Comment by CountDrewku | Hacker News Reader

“The fact is the unemployment rate is about half what it was a year ago. So a year ago, people were in their homes. Ten percent of people were unemployed. Gas prices were low because nobody was driving. People weren’t buying goods because they didn’t have jobs. Now more people have jobs. More people are buying goods. That’s increasing the demand. That’s a good thing.” -Jen Psaki

So, don't worry about it guys Build Back Better will fix it....

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"The average hourly wage for production and non-supervisory workers is up 5.8 percent over the last year. It’s up 10.3 percent if we want to go back two years."

"The increases are even larger towards the bottom end of the wage distribution. The average hourly wage for non-supervisory workers in restaurants has risen 12.4 percent over the last year and 13.5 percent over the last two years."

https://cepr.net/the-medias-war-against-biden-over-inflation...

Inflation is mostly a problem for people who are holding debt, not the bottom 90%.

Isn't giving millions of people an additional 10% income boost all at once going to be a disaster from supply chain shock and the environmental impact?

Inflation is most certainly a problem for the bottom 90%, affecting each part of the 90% differently. An average hourly increase does not mean real income growth by itself. As you move from high to middle to low class, consumption becomes a bigger piece of the expense pie(rent, food, clothes, etc...) and those goods are also the ones that are increasing in price. Meanwhile someone that bought a house last year basically anywhere has probably seen a large appreciation.

Excuse me? What fantasy world are you living in where this isn't affecting you?

https://nypost.com/2021/12/10/prices-spike-6-8-percent-most-...

>The average hourly wage for production and non-supervisory workers is up 5.8 percent over the last year. It’s up 10.3 percent if we want to go back two years.

Hmmm...

https://www.axios.com/wages-inflation-economic-data-c912afdb...

"For all the hype that wage growth has received this year, pay isn’t keeping up with price growth. Real earnings, or wage growth less inflation, turned sharply negative the last two months, after eeking out gains over the summer, consumer price data out Friday show."

The article you linked reeks of gaslighting by the administration to try and portray this in a positive light. They literally came out and said they were going to do this-

https://nypost.com/2021/12/08/white-house-working-with-media...

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