> would explain why 99% or so of the US population's lived experience is that we're currently in a recession
No, it wouldn’t, because median wages are up higher than median local inflation. In most zip codes, and for most Americans, real earnings are up.
The problem is we feel nominal cost increases as inflation and nominal wage increases as personal achievements. (Real wages are also lower than pandemic levels after accounting for stimulus, which creates a basis problem.)
No, it wouldn’t, because median wages are up higher than median local inflation. In most zip codes, and for most Americans, real earnings are up.
The problem is we feel nominal cost increases as inflation and nominal wage increases as personal achievements. (Real wages are also lower than pandemic levels after accounting for stimulus, which creates a basis problem.)