Taps Coogan – March 1st, 2022

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The following chart, from Reddit user JCCEagle, shows inflation and wage growth since 2015.

As we’ve noted before and as the following chart from David Goldman at Asia Times highlights, real wage growth is now more negative than it was at the worst of the Global Financial Crisis.

Inflation really is a regressive tax on workers. Deficit spending and excessively accommodative monetary policy are not a free lunch, they’re a tax on workers and savers.

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