Monday, March 21, 2016

US Consumers facing rising prices while wages remain flat

Most economists are saying that the current pickup in Inflation must mean that the economy is improving. To reach this conclusion one must not only ignore the basics of economics but also the very many signs that the economy is currently weakening drastically. The optimistic conclusion is that wages will rise to match price increases. But that is not happening (the last payroll report showed a huge drop in weekly earnings). So what we have is rising prices and flat wages…a terrible mix for consumers.


Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

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