Wages do need to come down.
For a very small number of people who seem to have all of the wages.
this post was submitted on 27 Nov 2023
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Yeah the mean should go down but the median should go up. Those outliers at the top are a problem.
Perhaps we should eliminate the outliers so we can get a more accurate understanding of the normal distribution.
That was the most professional version of a call to guillotines that I've ever heard.
;) Gotta package it right
One of my favorite things on this earth is capitalists admitting that if wages ever rise such that workers can afford a decent life, the price of a decent life will just rise to exclude them in the same breath they use to talk about how capitalism lifts people out of poverty.
Artificial scarcity in a post-scarcity society is wonderful isn't it :')..
Nice to see so much crossover interest from other instances on this one. Love the federation!
Specifically, the economy is a Ponzi Scheme!
Pyramid scheme.
Well... they're partially correct. If we cut "wages" at the top, then prices will go down because they're no longer being pulled up.
I don't remember the Fed saying anything like that a year & a half ago.
Powell has been saying this for a long time. He doesn't seem to like that people are making more money.
Here's just one of a plethora of examples you can find if you'd just Google it.
Why do I get the feeling he's not talking about the rich here?
Because of course he's not. To me it seems he's definitely more concerned about the pockets of the ruling class. Just my opinion of course.
Yep. Rather than it being corporate greed driving everything (which has been reported on from many angles), it's actually people making too much money that is the problem per Powell.
Exactly. This is the guy saying unemployment needs to be higher. Like wtf, you actually want more people out of work.
Higher wages is not what is driving inflation, it's pure greed. Proven over and over again.
I think they mean that no one in the government ever said that no one wants to work, it was just tight fisted business owners with no brains.
When people say the Fed in this context (the tweet) they generally mean the Federal Reserve which is headed by Jerome Powell.
They meant the first part
Pretty ambiguous and they responded to my comment but not to say that was the case.
I mean.... it's isn't those things. It's literally a government agency. It can't "make profit", it literally is the banking system, not a bank itself.
It is literally not a government agency. It operates under a mandate from congress, but is not a government agency.
Congress isn't a business, but Pelosi sure made a shitton of money off of insider trading. At best we live in an oligarchy that poses as a democratic republic. The votes follow the money, not vice versa.