Re: The federal Reserve is the key.
When the government raises minimum wage, employers are required by law to raise the wages of any minimum wage earners staffed with them. Employers and companies have to make cuts elsewhere in order to make up the difference. Someone somewhere is going to experience loss because of the artificially manipulated min wage law.
How is your contention that inflation is a meaningful metric, if wages consistently outperform inflation? In my opinion, inflation is mostly academic if wages are outperforming inflation since it would be analogous to commodity money increasing in value due to its intrinsic worth and not merely the function of money.
There is something innately wrong with a worker earning a dollar that must be continually invested in lucrative endeavors just to keep up with its dropping value. There's something very wrong with a system that thinks of people who save money as "hoarders". Our system punishes people who save and that is not right. The federal reserve systems monetary policy is based on an exploitable legal tender by decree platform that is flawed by design. The history of fiat money is one of failure and massive loses in the lower and middle class's. Inflation is a hidden tax, robbing every single worker of hundreds of thousands of dollars throughout their working lifetime. If inflation was truly under control, gold wouldn't be over $40.00 USD an ounce. The fed has destabilized our economy, exactly the opposite of what they were supposed to do. In the real world, companies that go bankrupt because of poor business practices, are allowed to fail. They are allowed to fail because they should fail. Without the luxury of being able to make money from nothing, they have no alternative but to fail. In the government sector, companies, agencies and bureaus that fail because of poor business judgment and/or mismanagement, are propped up and given taxpayer money. Why must we supplement known failed business models? How is this even possible? Because of fiat money. Easy come, easy go.
It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford