>On Sep 21, 2007, at 10:22 PM, joanna wrote:
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>
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>>10% loss in wages. I guess that's half the story. The other half would
>>be what things cost (in real dollars) that you spend those wages on.
>>
>>
>
>"Real" wages are supposed to reflect that, if nominal wages are
>deflated by the consumer price index.
>
Yeah, but Doug, you and I both know that the CPI is a joke now.
Endlessly and tendentiously fiddled with to make sure that
inflation-related benefits do NOT rise with actual inflation.
Joanna