I tend to ignore your posts where you are 2+2=5 factually incorrect--there's just too many to respond to--but claiming that rising wages REDUCES consumption is too laughable to ignore.
Good point on the dangers of inflation. A leading problem needing tackled at this time in our history, right after getting rid of President Carter and dsico.
I didn't say it reduces aggregate consumption. I said it creates cost-push in the targeted industries, which reduces consumption (obviously within the industry experiencing cost push). The workers may be putting themselves out of work or cutting back their own hours.
Thanks for the nugget of wisdom about the lack of catastrophic inflation in housing, healthcare, education, and fuel. I'm sure the Federal Reserve Bank is manipulating the data to show that the California housing price index is 500% higher than it was in 1980.
http://research.stlouisfed.org/fred2/series/CASTHPI
Making $13 an hour, it's still a lot easier to eat lunch at McDonald's than eat properly.
