No one argued that deflation is better. But it is obviously true that inflation-adjusted minimum wages are much (20%+!) lower than they were a couple years ago.
But that's not even the highest level of inflation in my lifetime. 1980 had 14% (!) inflation. There are probably people in your life that remember the gas lines from the 1970's.
The point I have is when looked from 20 years from now, it will be a blip. It's not the great depression, it's not the gas crisis of the 1970's. It's not even as bad as 2008.
Yes it sucks in the moment, but it won't in a few years when wages catch up finally.
The point I have is when looked from 20 years from now, it will be a blip. It's not the great depression, it's not the gas crisis of the 1970's. It's not even as bad as 2008.
Yes it sucks in the moment, but it won't in a few years when wages catch up finally.