Monday, August 02, 2010

It's Great When Wages Fall

I guess it should have been obvious for some time, but it's clear that many in the Federal Reserve-Industrial complex always see rising wages as bad. Not simply wages rising faster than productivity gains, or even wages rising faster than inflation, but wage increases period. What this means, of course, is that those who set monetary policy think things are 'good' when the predator class increasingly has the power to extract all rents from workers.