Inflation Eats Your Raise in 2012
Inflation will out pace raises in 2012? This article says inflation will run 3.6% while raises average 3% which will "demolish" your raise.
I haven't had a pay raise since 2007. My wages are down 5.9% over the last 2 years and that's after a 39% pay cut from my Delphi wages. So I'm down about 45% from what I was making 4 years ago. Probably no raises at the company I work for this year either so I'll be down another 3.6% or 49% from 4 years ago at the end of the year. If this continues, I'll be making a third of what I was making in 2007 when I retire in 5 years. That's if I can even continue to work in this ever shrinking, age discriminatory economy.
And then there are those BLS inflation numbers that they throw around. How do they calculate these numbers? We spend about 12% of net pay a month on gasoline which has gone up 33% since last year. Food has gone up 6% this year. But BLS doesn't consider either energy or food as a component of inflation!
Health care has gone up about 10% per year over the past few years but that hardly factors into the BLS rate, coming in at 3% for 2011. Our deductible increased 40% this year even as the wife's annual blood work increased from $1000 to $5000, a 5 times increase. We're paying the hospital monthly payments all year long just to pay for well check ups! But BLS sees no inflation to speak of.
Now we have the Gang of Six congressmen proposing changes to the CPI to reduce federal spending for retirees. The "chained CPI" would reduce social security and federal pension raises by $112B over 10 years. After all, when grandma switches from wine to beer when the price of wine goes up, that's not really inflation. Just like when she switches from cube steak to dog food. That's just consumers making adjustments in a normal economy.
The elite controlled government has no interest in common americans any longer. In fact, I expect them to start smothering the elderly at home during mandatory well check up visits in the near future. "Youth mobs" will stop by with a government "nurse" to check on grandma, murder her and steal her stuff for social justice.
I haven't had a pay raise since 2007. My wages are down 5.9% over the last 2 years and that's after a 39% pay cut from my Delphi wages. So I'm down about 45% from what I was making 4 years ago. Probably no raises at the company I work for this year either so I'll be down another 3.6% or 49% from 4 years ago at the end of the year. If this continues, I'll be making a third of what I was making in 2007 when I retire in 5 years. That's if I can even continue to work in this ever shrinking, age discriminatory economy.
And then there are those BLS inflation numbers that they throw around. How do they calculate these numbers? We spend about 12% of net pay a month on gasoline which has gone up 33% since last year. Food has gone up 6% this year. But BLS doesn't consider either energy or food as a component of inflation!
Health care has gone up about 10% per year over the past few years but that hardly factors into the BLS rate, coming in at 3% for 2011. Our deductible increased 40% this year even as the wife's annual blood work increased from $1000 to $5000, a 5 times increase. We're paying the hospital monthly payments all year long just to pay for well check ups! But BLS sees no inflation to speak of.
Now we have the Gang of Six congressmen proposing changes to the CPI to reduce federal spending for retirees. The "chained CPI" would reduce social security and federal pension raises by $112B over 10 years. After all, when grandma switches from wine to beer when the price of wine goes up, that's not really inflation. Just like when she switches from cube steak to dog food. That's just consumers making adjustments in a normal economy.
The elite controlled government has no interest in common americans any longer. In fact, I expect them to start smothering the elderly at home during mandatory well check up visits in the near future. "Youth mobs" will stop by with a government "nurse" to check on grandma, murder her and steal her stuff for social justice.
posted by lugh lampfhota at 10:22 AM
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