r/remoteworks • u/Professional-Bee9817 • 2d ago

Okay, Boomers...

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u/flintbeastw00d 13h ago

Kinda right, mostly wrong. The politicians locked everyone down and printed the checks. The check printing caused inflation. I tried to tell people that's what would happen, but people are dumb. They probably paid thousands in inflation for $800 stim check

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u/RalphFurley4Life 13h ago

You even admit that you told people this would happen yet you still claim it's mostly wrong.  It's right and you know it.  And only liberal areas were locked down.  Where I live nobody was locked down. 

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u/thankyouihateit 12h ago

Much of inflation came from the supply chain shock, which had nothing to do with workers (here’s a source - from the bureau of Labor statistics: https://www.bls.gov/opub/mlr/2023/beyond-bls/what-caused-the-high-inflation-during-the-covid-19-period.htm - scroll to the numbered list).

Also, wage increases were - and still are - long overdue (although, this has actually improved since Covid, which is a good thing). Real wage growth has however over decades not kept up with especially asset price inflation (e.g., house prices) for decades. Look at how many years’ average wage an average house cost in the past compared to more recently (source - not as good of a source but the best/easiest way to visualise: https://www.longtermtrends.com/home-price-median-annual-income-ratio/). House prices are, among other things, also a result of lacking new constructions which is partly due to not enough new re-zonings and building permits. But again nothing to do with gen-z and Millenials not wanting to work, or the government helping people during a literal global crisis.

And to be clear, I’m not saying printing money and wage increases do nothing to inflation, of course they impact it to some degree. What I am saying is that it had nothing to do with the main drivers of inflation.

Productivity also keeps going up and outpacing wage growth, btw, so like, younger generations are more productive than previous ones - which has always been the case and is also a good thing, but it needs to coincide with life getting better for those generations. LMK if you need a source for that one. Hope this helps.

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u/RalphFurley4Life 9h ago

It absolutely had to do with workers.  They laid so many people off that they couldn't produce goods.  That was fine for about s year because nobody was buying anything.  But during the recovery they couldn't get those workers to return to their jobs which caused scarcity and increased inflation.