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Imaginary Wage-Inflation Conundrum
Imaginary Wage-Inflation Conundrum Economists are puzzled over the wage growth conundrum. Wages were supposed to rise significantly. They didn’t. Why? Let’s start with a look at the conundrum expressed in a Tweet. Lisa Abramowicz ✔@lisaabramowicz1 This is a confusing jobs report. US employers added the most workers since mid-2016, but hourly wages didn’t increase as […]
The Status Quo Will Reign
The Status Quo Will Reign This month’s stock market correction is still fresh in everyone’s mind. Many have even begun to wonder if the era of dark money was truly over. How will the recent correction affect the Fed’s dark money policies? The consensus explanation for the correction was that inflation was rising and that would […]
Mnuchin’s Wrong: Here’s Why Investors Should Be Very Worried About Inflation
Mnuchin’s Wrong: Here’s Why Investors Should Be Very Worried About Inflation Despite Treasury Secretary Steven Mnuchin’s bizarre insistence that there’s no connection between consumer-price inflation and rising energy prices and wages, these factors – plus a spate of others – are forcing some food companies to consider raising prices on goods from chicken to cereal, […]
How the Fed’s Inflation Policies Crucify Workers in Pictures
How the Fed’s Inflation Policies Crucify Workers in Pictures Every month, pundits comment on average wages. But median wages best explain how the Fed’s policies crucify workers. The meme of the day is wage growth is accelerating. I disputed that notion on February 7, in Acceleration in Wage Growth is a Statistical Mirage. On February […]
Nine Reasons Why Globalization Can’t Be Permanent
Nine Reasons Why Globalization Can’t Be Permanent Since the late 1990s, globalization has seemed to be the great hope for the future. Now this great hope seems to be dimming. Globalization sets up conflict in the area of jobs. Countries around the world compete for development and jobs. If there is not enough cheap-to-produce energy to go […]
The Rowboat (Wages) and the Yacht (Assets)
The Rowboat (Wages) and the Yacht (Assets) As I keep saying: the status quo has divested the working and middle classes. The reason why the status quo has failed and is fragmenting is displayed in these three charts of wages, employment and assets: wage earners (labor) are in a rowboat trying to catch the yacht […]
Mystery: Australian electricity costs rise six times faster than wages – up another 12%
Mystery: Australian electricity costs rise six times faster than wages – up another 12% More bad luck for the renewables industry. Despite providing free energy from the sun and wind, electricity prices keep rising relentlessly, shockingly fast. Even doubling in wholesale costs in South Australia and Victoria. It was supposed to be cheap to collect […]
The Pie Is Shrinking So Much The 99% Are Beginning To Starve
Melissa E Dockstader/Shutterstock The Pie Is Shrinking So Much The 99% Are Beginning To Starve How much longer until the pitchforks come out? Social movements arise to solve problems of inequality, injustice, exploitation and oppression. In other words, they are solutions to society-wide problems plaguing the many but not the few (i.e. the elites at […]
Will the World Economy Continue to “Roll Along” in 2018?
Will the World Economy Continue to “Roll Along” in 2018? Once upon a time, we worried about oil and other energy. Now, a song from 1930 seems to be appropriate: Today, we have a surplus of oil, which we are trying to use up. That never happened before, or did it? Well, actually, it did, back […]
Gail Tverberg: The Coming Energy Depression
Gail Tverberg: The Coming Energy Depression The math is straightforward, but cruel As most PeakProsperity.com readers know, we fully agree with the statement: Energy is THE master resource. Without it, nothing can get done. Energy analyst and professional actuary Gail Tverberg returns to the podcast this week to revisit the global energy outlook. And fair warning, Gail warns […]
Economists Think Inflation Will Rise Sharply in 2018: They’re Wrong
Economists Think Inflation Will Rise Sharply in 2018: They’re Wrong Let’s investigate six reasons economists think inflation is about to pick in 2018, and why I think they are dreaming. Reason Number One – Wage Hikes Minimum wages rise in 18 states starting in 2018. Former Fed Vice-Chairman Stanley Fischer told Bloomberg TV on October […]
The Great Retirement Con
Shutterstock The Great Retirement Con Frankly put: retirement is now a myth for the majority The Origins Of The Retirement Plan Back during the Revolutionary War, the Continental Congress promised a monthly lifetime income to soldiers who fought and survived the conflict. This guaranteed income stream, called a “pension”, was again offered to soldiers in […]
4 In 10 Canadians Can Not Cover Basic Expenses Without Going Deeper In Debt
4 In 10 Canadians Can Not Cover Basic Expenses Without Going Deeper In Debt Back on July 13, when the BOC hiked rates by 25bps to 0.75% – its first rate hike in 7 years – followed by another unexpected rate hike in September, we documented some troubling trends among Canadian households, including the record […]
Is Population Decline Catastrophic?
Is Population Decline Catastrophic? In the 1970’s we heard the earth was going to get so crowded we’d be falling off. Now the panickers have flipped to population decline. They were wrong in the 70’s, so are they wrong again? Is a declining population catastrophic? Countries from Germany to Japan are investing in mass immigration […]
The Insanity of Pushing Inflation Higher When Wages Can’t Rise
The Insanity of Pushing Inflation Higher When Wages Can’t Rise In an economy in which wages for 95% of households are stagnant for structural reasons, pushing inflation higher is destabilizing. The official policy goal of the Federal Reserve and other central banks is to generate 3% inflation annually. Put another way: the central banks want to […]
