da es gut zu der gerade begonnenen Diskussion über Mindestlohn passt,nicht nur dass die Anpassung der Löhne zu gering ist,auch die Anpassung der Sozialausgaben hätte die Regierung schon längst an den Rand des Ruins gebracht.Und natürlich sind die Zinserträge viel mehr gefallen als öffentlich angegeben
aus dem obigen Link bei zerohedge heute:
The ramifications of understated inflation are huge. First, of course, and since pay deals often relate to reported CPI, wage rises for millions of Americans have been much smaller than they otherwise would have been. Small wonder, then, that millions of Americans feel much poorer than official figures tell them is the case. By the same token, those Americans in receipt of index-related pensions and benefits, too, have seen the real value of their incomes decline as a result of the severe (and cumulative) understatement of inflation.
This process, of course, has saved the government vast sums in benefit payments. Rebasing payments for the understatement of inflation since the early 1980s suggests that the Social Security system alone would have imploded many years ago had payments matched underlying rather than reported inflation. In other words, the use of ‘real’ inflation data would have overwhelmed the federal budget completely or, conversely, might have forced government to come clean on what levels of welfare spending really can be afforded.
Another implication of distorted inflation, an implication that may have played a hugely important role in the creation of America’s debt bubble, is that real interest rates may have been negative ever since the late 1990s (fig. 4.3). Taking 2003 as an example, average nominal bond rates12 of 4.0% equated to a real rate of 1.7% after the deduction of official CPI-U inflation (2.3%), but were almost certainly heavily negative in real terms if adjustment is made on the basis of underlying inflation instead.
We believe that distorted inflation data may, together with irresponsible interest rate policies and woefully lax regulation, have been a major contributor to the reckless wave of borrowing which so distorted the US economy in the decade prior to the financial crisis. |
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