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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by PaulDavisThe1st on Tuesday December 20, 2022 @06:31PM (#34074420)
wages increasing faster than inflation means that effective (sometimes called "real") prices fall.

If in year N an item costs $1000 and you earn $10k a year, but in year N+M the item costs $1100 but you earn $12k a year, the real price of the item has gone down.

Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by sidewndr46 on Tuesday December 20, 2022 @06:42PM (#34074546)
Yeah, except we're talking about returning to pre-Covid levels. Not whatever you just made up.

That would imply prices return to the previous levels. That will never happen with inflation.

Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by PaulDavisThe1st on Tuesday December 20, 2022 @06:46PM (#34074599)
No, it doesn't mean that at all. Real prices are a function of the ratio between the cost and earnings. If earnings rise faster than cost, real prices fall.

Now, whether or not that's a likely scenario is a separate question, but it is absolutely not impossible and has happened before.

Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by sidewndr46 on Tuesday December 20, 2022 @06:53PM (#34074668)
Have you ever been into a store and had them list the price of an item as 0.00389% of your annual income?
Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by PaulDavisThe1st on Tuesday December 20, 2022 @07:17PM (#34074915)
Of course not. That doesn't make what I said false.

Have you ever had anyone say "cars cost so much more now, they were only $800 in 1942" and be taken seriously? (or whatever similar example you want to use)

Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by pigsty on Wednesday December 21, 2022 @12:26AM (#34077011)
Inflation has been going on basically constantly for centuries. Nobody is really expecting to buy a coke for a quarter or anything again, but people are expecting the prices to not grow 10% every couple months so that they’ll be able to switch to a job where things will feel affordable again (since jobs offering fair wage increases are basically a thing of the past).

Nobody would complain about $10 bags of chips if they made 4000x that a month.