As every wage-earner knows, wages struggle to keep up with monetary inflation.
As every wage-earner should know, the number-one source of monetary inflation is the monetary authorities.
And as wage-earners might know, the world’s chief monetary authority, for the time being at least, is the US Federal Reserve, aka, The Fed, who have the power to create and export inflation, but claim that, whatever pain wage-earners might be feeling – and even after injecting hundreds of billions in “liquidity” -- they haven’t been either producing or exporting inflation.
The folks at the Fed would however like you to know they feel your pain. And by "pain" they mean only getting a 13% raise last year, poor lambs.
They probably deserve a pay-rise ahead of all the other poor saps. It must be hard work shovelling out all that counterfeit capital. And they did increase their productivity last year.
[Hat tips and quips from Rudolf E. Havenstein and Daryl Montgomery]
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