[quote=harvey][quote=CA renter]This is what we got under Bush and Obama (thanks largely to the Federal Reserve). What we need is deflation so that we can reset our economy and put the brakes on the speculative excesses that drive up prices (but not wages, because those are not “investments” that will benefit the investors). We’ve experienced a gross misallocation of resources, and the resulting price/cost inflation (outside of wages) has eroded the purchasing power of millions of Americans and millions (billions?) of working people and fixed-income recipients around the world.[/quote]
Because when the price of everything else is going down, the cost of labor will stay the same.
Employers will just keep issuing those paychecks…[/quote]
