A Victoria man has gone two decades without money

Re:A Victoria man has gone two decades without money by imtringued on Sunday July 25, 2021 @01:20PM (#27951022)

Inflation is bad for lenders (i.e. people keeping deposits in USD). People who work get paid based on their real value which means their pay rises if inflation rises. Of course it maybe difficult to get a raise for your current job but switching jobs will get you a raise that catches up to inflation.

Here is a chart: https://imgur.com/a/eOXF0UO

Note that there has been a shift in bargaining power since 1980 that is closing. That gap is not the result of inflation because inflation alone doesn't give employers bargaining power. If anything it increases bargaining power of employees vs the old job because the new job always pays more in nominal terms.

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Re:A Victoria man has gone two decades without money by willhinsa on Sunday July 25, 2021 @01:37PM (#27951194)

It's also incredibly bad for pensioners, and often there's a lag between cost of living increasing and wages increasing that can be quite painful until things equalize, which sometime never happen.

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Re:A Victoria man has gone two decades without money by pbourke on Sunday July 25, 2021 @02:58PM (#27951876)

I think pensioners would be covered as “lenders”. I interpreted lenders to mean those who have savings or are the beneficiaries of savings, such as pensioners, in addition to the obvious meaning of entities that hold fixed-rate debt as an asset.

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Re:A Victoria man has gone two decades without money by jfk13 on Sunday July 25, 2021 @02:01PM (#27951376)

> switching jobs will get you a raise

If only that option were realistically available to all, rather than just an entitled few.

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Re:A Victoria man has gone two decades without money by alasdair_ on Sunday July 25, 2021 @10:24PM (#27954888)

A remarkably large number of restaurants and similar employers have recently increased their wages due to demand. It’s not just the elite.

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