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SW Ontario | Inflation on stuff that people really need such education, health care, and groceries has been running much higher than published numbers on inflation ; a lot of these things aren't included in the calculations because they supposedly fluctuate too much. But I think 10% is stretching it. The real problem has been wage growth, as the article alludes to. Wage growth has not kept up with inflation; and this has been true for a very long time. There are lots of jobs out there, but there are very few jobs that are keeping up with even modest inflation estimates. Lots of young people with minimum wage jobs getting government subsidies or parent subsidies(e.g. 30 year olds still living at home, mom and dad paying for vehicles, education, houses etc, as well as out of pocket expenses such as car repairs etc.). Those software engineer jobs that could actually support whole families are few and far between. So yes, people are in effect getting poorer because income is not inflating at the same rate as expenses. When the baby boomers run out of money to support their adult kids is when sh@* will really start to hit the fan. Remember when young people used to take care of their elders? The roles have now been completely reversed, old folks homes are overflowing, and old people are expected to foot the bill for everything. One only needs to look around them and observe whom is truly supporting themselves on a living wage. One doesn't need numbers to figure this out; the next generation will have their work cut out for them. And forget about hoping for some kind of government saviour to bail us out. They will keep lying and telling us everything is peachy keen and that they have the answers to future prosperity.
Edited by Bert 6/13/2018 21:11
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21% unemployment and 10% inflation
