Earnings have fallen for the first time since 2014 as inflation outstripped cash rises in pay, new data has revealed.
Workers’ earnings have risen by 2.2pc year-on-year, but this was outpaced by inflation, which hit a four-year high of 2.7pc in April, when the data was gathered.
H/t reader Squodgy:
“As predicted and as planned.
Inflation erodes the wealth of the middle classes.”
Yes, and as we know this is happening everywhere…
“When a country embarks on deficit financing (Bush-Obama-Trumponomics) and inflationism (= quatitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul
… and it will end extremely badly…
Irlmaier predicted all of this in around 1950…
Irlmaier’s signs of #WW3:
We’re at 4!
— Alois Irlmaier (@AloisIrlmaier) September 22, 2015
* * *