It's Time to Boost the Paychecks!

@porwest I can't wave a wand and magically make my income increase, and I can't do anything to control inflation, so instead I am just trying to take as many steps as I can to cut back on expenses to counteract the higher prices.

Now with the Russia Ukraine thing, I would suspect gas prices will go even higher, and that's just going to add to higher prices for everything else. The SOTU gave me no confidence, either, that anyone has their eye on the ball to fix anything.

@moffittjc I actually do have a magic wand. I call it the stock market and dividends.

You are correct. But it not quite that simple. Labor costs certainly add to inflationary pressures. However, in economics there is something called hyper-inflation which occurs when wages do not keep up pace with inflation. And that's the situation we are running into now. And once you get to hyper-inflation the ONLY way you can get rid of it is to literally kill the economy. That's what Reagan did back in 82 and it was painful, but the only way out, and of course lead to decades of economic growth as a result. We are not quite there yet. But we are getting very close to a devastating hyper-inflation issue right now. Unfortunately, Biden is doing the exact opposite of what needs to be done to kill it. So, the only thing I can say is that I think we are in for one hell of a ride here unless someone gets it together and does what needs to be done. It IS possible. I am not discounting that reality will have to set in at some point within the Biden administration that something needs to be done here.

@porwest Thanks for the info. Always appreciate your comments.

@LindaOHio Do you listen to them, though? I am not attempting to ONLY discount liberals and Biden. We are in a real mess here and people need to pay attention to WHY. I think it is important. The real reason we ARE here really is because people are going to the polls and voting without understanding what they are voting FOR, and it is damaging the country and hurting real people. How many times on this site have I praised rapist, pedophile Bill Clinton for being a good president? It's not a republican/democrat issue. It's a POLICY issue. I wish people could begin to understand that. I have even openly said Obama was not as bad. He was dangerous if his policies would not have ended. But he was not terrible. Biden on the other hand is another story. Again. POLICY. Not people. It matters. People have to get beyond party and start being Americans again. We used to do that.

It is simply one the challenges businesses must face. At the same time, if no one is making enough money to buy anything or pay for any services... The business will not survive that way either. So, it is a careful balance.

@porwest Most likely not.

Yep. Pretty much any cost of living increases are gone. Even, I suspect, any pay raises would only help a little bit. I don't think this inflation is stopping any time soon.

@porwest I agree and with everyone greed I don't see a balance coming up anytime soon.

@Bensen32 Probably not.

Many people don't understand how basic economics works, unfortunately. At the same time, I do think there is a line here that if businesses can ask for more when times are tough, employees should be able to do the same. I don't 100% agree with that for all the basic problems that go along with it. But the economy suffers one way or the other. There comes a time when wages and prices need to be at least "on balance" in order for things to work and be sustainable.

And to think, at least here in the United States, things were on the up and up. Amazing how quickly a change of policy can put our wallets into the dumpster.

Unfortunately they won't. But one thing I know is that employees will let the employers know where they stand one way or another. The companies will pay the price one way or another. And this is coming from a guy who typically stands in favor of the companies.

That's part of the problem. The cab drivers, in this scenario, are absolutely justified in raising their fares. But so are the employees in asking for more from their employers to pay them.