It is covering it, for workers on average. Your employer is stiffing you compared to the rest of the economy then if you didn’t also get 20% of a raise compared to your salary in 2019.
Real wages in October 2019 (normalized to 1982-1984 dollars) were $10.95/hr on average in October 2019. In October 2023 (again normalized to 1982-1984 dollars) they were $11.05/hr (which is $34/hr in current dollars). So as we stand in October the inflation from 2019 to now has been fully compensated for in wages with a little bit of an increase in real dollars. Wages have been growing faster than inflation since January 2023. Hopefully that will continue as labor remains in high demand and unions continue to make gains. Union gains even help non unionized individuals in their industries whose employers also will have to give pay raises to remain competitive with union jobs.
Not saying even more couldn’t be done to combat things like income inequality and poverty and many other issues, things weren’t exactly perfect in 2019 either. Just frustrated by the current media narratives casting hyperbolic doom and gloom in the economy and the potential of that narrative to send trump back into the white house.
this thread is so full of terrible, not-relevant, or just plain rule-breaking discourse across the board that we’ve decided to totally remove it, and that’s very disappointing because this is the first time we’ve had to do this to a thread. let’s please not do this again.
the recording industry is an exploitative middleman that's obsolete in an age where you don't need a big company to press vinyl disks to get your music out there
@throws_lemy I just read about this guy on a Telegram channel that I follow (content is in Romanian). What the hell?!? How can people actually vote for a crazy dude like him?!? There's a shitload of stuff that he wants that even a moderately right-wing person would disagree.
Even our most right-wing extremists would go crazy at the thought of abolishing the national currency in exchange for a foreign one (or maybe it's only when it's about Euros, who knows). Let alone selling babies and organs on the free market.
I don’t think most people actually voted for him - it’s more like he was the lesser of two evils. Now consider what that says about the other candidate.
I know, right? Consider this though: Argentina’s biggest problem right now is the economy, and his opponent in the presidential race was the current finance minister, who one could argue has already given a quite impressive demonstration of his incompetence. “Four more years of the same” simply isn’t a realistic option. Milei’s plans for the economy on the other hand could be worth a try.
I suspect he’s a bit of a calculated risk to many - some of his ideas might actually be good for the economy (not the selling babies part obviously), and his more, uhm, controversial ideas are highly likely to be blocked by parliament. In that aspect he might be the kind of healing shock that the country needs.
So far we know that he appears to have toned down his rhetoric a bit since his victory, and that the other party supporting him plans to ‘keep him in check’ in parliament. Let’s see how that turns out.
From what I hear the answer is no. The current opposition party (JxC) started supporting him when it was clear that their candidate couldn’t win against the incumbent party’s candidate (Sergio Massa, the current minister of economy), but they say they plan to vote against some of Milei’s more radical ideas.
What actually happens, and how many of his ideas Milei will actually try to get through parliament, remains to be seen.
I wonder if they are banking on, to put it into meme terms, “Heartbreaking: The Worst Person You Know Just Made A Great Point”.
And obviously I mean that in terms of a “great point” for the opposition.
I really don’t know anything about the parliamentary system of this country, hell I barely know enough about my own country, but this seems like at the best an interesting play and at the worst a huge miscalculation that will bite them in the arse.
Your guess is as good as mine. 🤷♂️ You know how the things politicians say before the elections and the things they do afterwards don’t necessarily have a lot in common, so I guess it remains exciting.
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