Wednesday, June 24, 2015
Cost of living rising while wages going lower
Wages in real terms are basically down. The cost of living has gone up substantially — partially also because of this brilliant idea of Obamacare. So all I’m saying is the household is suffering at the present time. That’s why retail sales are not picking up. And while the employment numbers look better, I say that jobs have been replaced by low-paying jobs. In the 70's we had high consumer price inflation, now we have extremely high asset price inflation.