Reply #13: Heck, we need some inflation. [View All]

Wage inflation would save the middle class. Median real income is actually declining. That means that our incomes are not keeping up with inflation. This means that the record debt that consumers are accumulating can only weigh more on the economy. Look at these debt ratios (LINK). We are at levels higher than in the early 80's. People have transfered some of their debt to their mortgages but that means we can expect the record number of foreclosures to greatly increase as people's incomes fail to keep up with the rising interest rates.

Years ago, I used to think that maybe Greenspan was some sort of Guru. Now I realize that he is just another corporate whore in the whole corrupt Shrub Inc organization. He knows that if we have wage inflation, it'll hurt the large corps and benifit consumers. Shrub Inc and the Fed are doing everything they can to save the corporations at our expense.