<<did you notice the person the article profiled was an unemployed nurse?>>
Sure. Difficult, frequently thankless and occassionally dangerous work! They didn't give us her entire employment history (ie, is she an LPN? RN? Nurses aide? Any problems at the prior job that "caused" her to, errr, "become unemployed? Sounds like she became pregnant and that may have interfered with her job search....
Too bad nursing "output" can't be "contract manufactured" in Mainland China!!<VBG>
I joke, but IMO that's why we don't see as much CPI inflation in the States as we "should". Pricing pressures are asymmetric...where production can be done cheaply overseas using labor not exposed to the effects of kajillions of clownbux sloshing around (ie contract manufacturing of computers in China), then we see deflation of those products. If it relies on resources only available here (ie, domestic labor, as is often the case in health care, legal services, construction, clerical salaries, municipal salaries, teachers salaries, baseball players, et. al) we see inflation. This course of affairs will continue until:
a) the dollar sinks, causing inflation of imported goods and those manufactured overseas in addition to domestic, or
b) money supply growth slows (yeah, RIGHT!) and we see overt deflation and falling prices worldwide. Heinz's K-winter, as it were.... |
