this post was submitted on 19 Sep 2023
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Work Reform

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[–] bennieandthez@lemmygrad.ml 6 points 1 year ago (1 children)

This is just plain wrong. The majority of people don't get to "decide" to spend/save, they live paycheck to paycheck. The people that can make that decision are actually incentivized to NOT spend but to "invest" (aka loan) because interest rates are higher, and thus get better returns.

Inflation is really a wealth transfer from the poorest to the wealthy since wages don't keep up with inflation.

Now you can figure out why deflation is considered a bad thing by mainstream media.

[–] Cethin@lemmy.zip 3 points 1 year ago (1 children)

Most of the time most wages do keep up with inflation. Minimum wage should in a reasonable country as well. Also, most people can totally defer spending some money. Not for food and rent and other necessities, but for other things, like getting your car fixed or things like that that can be pushed off for later.

[–] bennieandthez@lemmygrad.ml 2 points 1 year ago (1 children)

Ignore rent inflation and sure, wages are keeping up 😅

[–] Cethin@lemmy.zip 2 points 1 year ago

True, yeah. Rent inflation is making things real bad. The past little while almost no wages have kept up with regular inflation even. Generally though, most wages have kept up with both, but recently in particular things have gotten fucked.