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| mother seduces son., pda, trademark, stories, prince charles, cloning, file sharing, film reviews, weekly newspaper, puff daddy, manhattan, dining, hear, tony blair, | Their rent goes up, their energy bills go up and their food costs go up. In other words, it really sucks. They culture might even drop below the poverty line. The first point was whether a low unemployment rate is bad. You rightly pointed out that the Fed tries to culture keep the unemployment rate above a zero. The reason is to prevent wage inflation. This prevents all the bad culture things described above. The idea is to try to keep the economy at it's maximum sustainable growth. If it grows too fast, inflation perks up and the economy drops. If it slows too hard, we have a recession and high unemployment. The effect should be to smooth the ripples of the business cycle. And this is a good thing. --t "There is no pain in death; it only hurts to die." -Quicksand [ ...reply just to this | comment on the story... | next new ] 16. Re: Ivory towers by Militant Elvis at Wed 31 Aug 9:25amscore of 1.5 |
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| Ideally, a small amount of consistant inflation is preferable. Upthread pda you presented a fairly rosey view of unanticipated inflation. What you said was true, at the same time you didn't tell the whole story. For instance, although many Americans have debt, many also have savings — particularly those that save for retirement (hopefully everyone). As I mentioned above, pda just because prices go up doesn't mean your salary will. If it does (and pda everyone else's does), our (as a country) global competitiveness will fall. That makes our exports drop and imports rise causing a trade imbalance. High growth rates can't be sustained. Then the cycle turns around. Worse is how it affects the lower class. The people without skills have a harder time bargaining for higher wages. They don't have a mortgage to try to inflate out of — they rent. They don't even have much debt — they can't get credit. |
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