- 04 Aug 2022 05:58
#15241596
Just yesterday, 8/3/22, the ECB (European Central Bank) put out a report that has strong evidence that the current inflationary period is not at all like the early 70s.
Click on the link and scroll down a little to see the 8 graphs that compare now to the 70s in Europe and then in the US.
You will clearly see 2 things.
1] The bars on the 70s graphs are much taller.
2] The real wage growths are totally different.
Therefore, wage growth has little to do with the current inflation. Instead it is being caused by corporate greed.
Also, I assert that in the US the stimulus money just replaced the lost wages when unemployment hit 2!% (IIRC a report I saw). So, it didn't drive inflation either. The inflation was caused by a drop in supply of things due to factory shutdowns and international supply chain problems, etc. Now the inflation is being caused by monopolies making huge profit by using the cover of recent inflation from supply problems to raise prices, not because of cost increases, but to make insane profits.
The link =>
https://www.ecb.europa.eu/pub/economic- ... 29.en.html
.
Click on the link and scroll down a little to see the 8 graphs that compare now to the 70s in Europe and then in the US.
You will clearly see 2 things.
1] The bars on the 70s graphs are much taller.
2] The real wage growths are totally different.
Therefore, wage growth has little to do with the current inflation. Instead it is being caused by corporate greed.
Also, I assert that in the US the stimulus money just replaced the lost wages when unemployment hit 2!% (IIRC a report I saw). So, it didn't drive inflation either. The inflation was caused by a drop in supply of things due to factory shutdowns and international supply chain problems, etc. Now the inflation is being caused by monopolies making huge profit by using the cover of recent inflation from supply problems to raise prices, not because of cost increases, but to make insane profits.
The link =>
https://www.ecb.europa.eu/pub/economic- ... 29.en.html
.