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February 24, 2006

Comments

Mike Sacauskis

You comments about "employers" footing the health care increase isn't true, my employer passes the increase on to me. Both in terms of increases in insurance premiums and increased co-pays. My premiums went up about 4% this year, however my copays doubled thats 100% increase.

Mike

Stan

I get somewhat "bent out of shape" when everything I read keeps stating that inflation is basically non-existant or is under control. Who are these people saying this? I suspect they are the ones on high salaries & wage earners who in reality don't have to worry about inflation. They, (high salary & wage earners), make plenty of money and their salary/wage increases are sufficient to keepup and/or exceed inflation.

Given that....I wonder if any of them buy:
groceries / gas / utilities / clothing / automobiles / personal items / entertainment / and the list goes on and on.

If they had to economize "these inflation is under control people" would definitely realize that prices are skyrocketing to say the least.

They so called inflation data is somewhat bogus, that is the nicest thing that can be said of it.

Mike Sacauskis

Have to agree with Stan. Bringing up Walmart and health care in the same essay is almost humourous.

Dick Lepre

The point about health care cost was that employers pay a lot of it. BLS says that im 9/2005 the average expense per employee for health care was $1.97/hr. As for the inflation data, well, it is what it is. Saying that it is "somewhat bogus" amounts to saying that you don't like the answers. The issue about core and overall moving differently was covered in a previous post.

Mike Sacauskis

So do employees, but apparently they don't factor that into this. Nor do they factor in other expenses assoicated with healthcare such as increases in Copays.

Tyler Guernsey

Goodmorning:
Thank you for the statistics
it backs up my personal feelings. I am a small buisness owner for the past 22 years but started working hourly in 1969. My father taught me what was most important not how much per hour but how many hours can I work. In the early seventies I was involved with the union at my employer and at contract time the employes always wanted a raise so that they could get ahead. I told them then that the way to get ahead was to get a second job as higher wages and more benefits would just make them one of the pack.In my adult life I have tried to instill in my seven children is that if they wanted something extra that instead of cutting back on what they are spending to find a way to increase the size of their pot.
Thanks Again Tyler

Stan

You can work 24 hours a day 7 days a week but that doesn't stop the prices of basically everything, especially critical items), from rising. After working 7/24 and the prices keep rising how are you going generate more work time so you can put in more hours to make more money to pay for neccessities?

Dick Lepre

Maybe I made this too complicated. The most important point I was trying to make was that "real" wage growth since 1960 has been very slight. From 1960 to 2004 (in terms of 1960 dollars) the average wage of a good producing worker went from $2.15 to $2.53. Take (2.53-2.15) divide by 2.15 and divide that by 44 (number of years) and you find that the average wage growth (not compounded) has been 0.004% per year. My conclusion is that real wage growth has always been stagnant. Nominal wages track inflation.

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