Average Earnings Fall Short of CPI

Your paycheck is docked. Inflation is running 10-14%. Your savings account is losing 7% per year. And your conservative bond investments you bought 10 years ago have lost about 15% in value—$4 trillion in 10 years. But the good news is that the government gave you $3,200 during COVID. Average earnings have fallen since April of 2020—a 5.4% dock in pay. Ironically, the average annual paycheck has been docked $3,670 because the COLA's aren't keeping up with the CPI (let alone the real inflation index). Here is an encouragement at least to Christian employers that they inform their employees that their pay is being decreased for the work they do. Keynes admitted that inflation is an insidious, destructive economic force that not one man in a million could detect. We just hope that the 14-year-old kids that listen to this program will know what is happening.