jpinpb, you’re making an big assumption that we’ll have inflation w/out wage inflation. I don’t think you can have one without the other for very long. Wage inflated ~35% over the last 8 years. Which is right in line with official inflation #. So, adjusted for inflation, wage didn’t go anywhere, but in nominal $ term, wage went up 35%. Over the last 8 years, we had the .com crash and the housing crash, yet wage went up 35% over nominal term.
