HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » What minimum wage buys, t... » Reply #9
Introducing Discussionist: A new forum by the creators of DU

Response to progressoid (Reply #3)

Thu May 10, 2012, 08:46 AM

9. it's actually worse than that..

starting sometime in the late 70's a couple of items were removed from calculations in the cost of living calculations.. those being fuel and food..the justification was that they were too volatile for analysis..by totally ignoring these factors, the COLA calculations underestimated the true rate of inflation..

while the illustration mentions gasoline.. the energy in general is now much higher.. as for food, we are caught with a higher world population, thus consumption, depletion of resources (especially maritime sources), as well as factors of climate change.. classical Malthusian problems..

throw a Little greed into the mix, and bingo!!!

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 21 replies Author Time Post
liberal N proud May 2012 OP
xchrom May 2012 #1
Sherman A1 May 2012 #2
progressoid May 2012 #3
LineLineReply it's actually worse than that..
oldhippydude May 2012 #9
rdking647 May 2012 #12
Sirveri May 2012 #18
TalkingDog May 2012 #4
bread_and_roses May 2012 #6
StarryNight May 2012 #17
Courtesy Flush May 2012 #5
LynneSin May 2012 #7
wandy May 2012 #15
Lydia Leftcoast May 2012 #8
malthaussen May 2012 #10
varelse May 2012 #11
DaveJ May 2012 #13
Demeter May 2012 #16
Dawgs May 2012 #14
Blue Owl May 2012 #19
ck4829 May 2012 #20
Heywood J May 2012 #21
Please login to view edit histories.