Posted by LAA on January 09, 2009 at 10:31:02 from (212.93.220.66):
In Reply to: Re: OT/Gold posted by trucker40 on January 09, 2009 at 09:24:52:
T-40, When you say raise wages until inflation doesn't matter then you are descibing one aspect of inflation. In order for wages to increase without inflationary consequences it has to be the result of supply and demand for labor forcing the free market to pay more for needed services. The real danger of the coming decade is deflation. This is because most people are too far in debt. Deflation happened in the 1920's, this was the main reason so many farms were lost to foreclosure during the 1930's depression. Farmers could feed themselves and provide most of what else they needed to live but there was very little cash money to be made, and people with high debt simply could not pay.
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