Tag Archives: declining wages

We Just Enjoyed the Last Christmas in America

The end of rising wages = the end of mass affluence: we just enjoyed the Last Christmas in America (TLCIA). As unemployment topped 10%, the January 1975 cover of Ramparts magazine blared: The End of Affluence: The Last Christmas in … Continue reading

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Central Banks Have Failed Because They Can’t Push Wages Higher

You can print all the money you want, but it will never boost wages to keep up with prices. Central banks have been pursuing two goals for the past six years: ignite inflation and an expansion of debt that will … Continue reading

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Central Banks Create Deflation, Not Inflation

Financial and risk bubbles don’t pop in a vacuum–all the phantom collateral constructed with mal-invested free money for financiers will also implode. If there’s one absolute truism we hear again and again, it’s that central banks are desperately trying to create inflation. … Continue reading

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