Why inflation hurts more than it did 30 years ago
Inflation hurts more than it did 30 years ago for Americans stuck with flat income
WASHINGTON (AP) -- Inflation spooked the nation in the early 1980s. It surged and kept rising until it topped 13 percent.
These days, inflation is much lower. Yet to many Americans, it feels worse now. And for a good reason: Their income has been even flatter than inflation.
Back in the '80's, the money people made typically more than made up for high inflation. In 1981, banks would pay nearly 16 percent on a six-month CD. And workers typically got pay raises to match their higher living costs.
http://finance.yahoo.com/news/Why-infla … 8.html?x=0
I think this is true..I don't see any rise in personal income at all...and everything is costing more...
Boy is this funny....but goes to show that the average American knows nothing(more ignorant now then decades ago).
Companies have shareholders to answer to and must maintain a profit level each and every year. That profit level is suppose to increase between 10-20% to satisfy shareholder's return on investment.
The average worker(middle and lower class) who work a job, get on average of 1-3% raise each year.
So, getting ahead isn't possible.
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