@geniusmusing It still bothers me that the Chair of the Federal Reserve thinks that prices are high because employees got moderate and belated wage increases after years of getting virtually nothing. He doesn’t blame shortages caused by management incompetence (JIT inventory + overseas manufacturing, both things that managers in the 1980s and early 1990s railed against because they knew it could cause long-lasting supply disruptions) and resulting price increases. He doesn’t blame real estate price appreciation, despite reaching dizzying heights. He doesn’t blame government spending or the Fed’s own policies, whereby most of the US currency that has ever existed was created within the past few years.

No, the problem is that workers are not begging for pennies in front of 7-11.