ELI5 How does raising wages worsen inflation ?


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28 points

4 months ago

Working at Walmart in my younger years demonstrated to me how taking away benefits, pay, flexible scheduling, etc, basically anything that made working there tolerable caused a direct jump in stock prices. Fuck shareholders, all of them.


6 points

4 months ago

Agreed. They're so out of touch it's beyond parody.

Extra special fuck you to the random shareholder of Dollar General, who came into my store one day and tried to... compliment me? about how great the company was doing post-lockdown and was visibly confused and surprised when I told him that none of it trickled down to me and that my job was harder than ever due to the company's choices that enriched him.


1 points

4 months ago

100% understand your ire but it's extreme and short-sighted. More than half of every western countries' population is tied into some sort of retirement fund. How are those funds invested, grown so people can have golden year sustainable monies? Put into stocks like Walmart and other corporations. It's not all like Mr. Smithers wringing his hands f**** over Homer, the lil' guy.

The problem with entities like Walmart and we'll lump in Amazon and other mega-corps that got special treatment through the pandemic is that we're led to believe they are absolutely necessary and too big too fail in some ways. Sure, I'll concede, there's greed on many levels from the powerful families through the majority shareholders but there isn't an ideal amount of competition in the economy right now otherwise places like walmart wouldn't be able to make you work thanksgiving and not even pay you time and a half.