Labor Day - remembering the real wage killer

There is a lot of chit-chat going around about raising the minimum wage and equal pay and those who feed their greed at the expense of regular, working folk.  But we venture to say that not one of those politicians or bureaucrats who fill the airwaves today with their blather about good intentions will bring focus to this one certain wage killer - INFLATION.  Here is the CPI chart for the last 50 years.  What does it say?  Well in the lower left it tells us that what cost about $30.00 in 1960 costs about $240.00 today.  An unbelievable increase in what it costs us in America to live of EIGHT FOLD - EIGHT TIMES AS MUCH TODAY AS 50 YEARS AGO.

 

How can this happen you ask?  Well us regular folk cannot create this situation - you see we must do something, make something, build something, grow something, transport something - actually do something in order to earn cash.  But the government coupled with the Fed coupled with its vast bureaucracy can get cash without doing something and then use it to buy votes and maintain power while taking very good care of themselves.  Let's see if those politicians and bureaucrats and smarty pants fellows and gals on the Federal Reserve Board talk about inflation today.