The other night I was having a conversation with a friend about money, and we started talking about inflation. When my friend asked me where I’d learned about the concept, I think he expected me to say, "college." Instead I said, DuckTales.
"If somebody wants big money, they're not gonna rob a bank."
The editorial board of the New York Times weighed in on the fast food strikes noting that at $7.25 an hour, low paid work "is lower paid today than at any time in modern memory" because the minimum wage has failed to keep up with inflation and failure to enact right-to-organize legislation has made it difficult for low-paid workers to organize without retaliation from employers. All of this, plus the loss of so many midwage jobs during the recession, have inevitably led to the current strikes.
Neil Irwin says Japan is the most interesting story in global economics right now.
The Times has a story this morning about how difficult it is to continue to pay for things when wages are stagnant and inflation continues to do its thing. As you can imagine, people who are earning money, but are underemployed are finding it very difficult to make ends meet.