Cahillane said that the industry has endured years of “volume degradation” because consumers had to absorb “too much price.” Another inflation shock, he warned, is the last thing households need.
I cannot stand corpo cant
According to the Federal Reserve Bank of Minneapolis (9), $100 in 2026 had the same purchasing power as just $11.74 did in 1970.
yes, the u.s. national wage index was about $6k in 1970 and about $70k in 2024, which is the last year the social security administration has reported the wage index
This doesn’t seem like a good representation, I think it has capital gains wrapped in.
This source looks like it takes just the wages people are being paid, and it goes from $4.44 an hour in 1979 to $20.03 in 2024.
I remember checking a year or two ago that the median worker earned around $45k, with a bunch of financial sleight-of-hand making up the dofference between this and the per capita GDP.
fair, and the inflation number also includes a bunch of financial sleight-of-hand. i don’t think it includes healthcare, education, and housing, which have all grown significantly faster than the baseline inflation.
I cannot stand corpo cant
Fucking grim
I hate this so fucking much. SO FUCKING MUCH.
Oh well I’m sure that salaries also rose by 9x in that time, right?
yes, the u.s. national wage index was about $6k in 1970 and about $70k in 2024, which is the last year the social security administration has reported the wage index
This doesn’t seem like a good representation, I think it has capital gains wrapped in.
This source looks like it takes just the wages people are being paid, and it goes from $4.44 an hour in 1979 to $20.03 in 2024.
I remember checking a year or two ago that the median worker earned around $45k, with a bunch of financial sleight-of-hand making up the dofference between this and the per capita GDP.
fair, and the inflation number also includes a bunch of financial sleight-of-hand. i don’t think it includes healthcare, education, and housing, which have all grown significantly faster than the baseline inflation.