The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: mishedlo who wrote (34660)	6/29/2005 11:42:13 PM
From: Mike Johnston	Read Replies (1) of 306849

I did not compare the US to Argentina or Weimar Republic, i only used the example of Argentina to show that you can have both high inflation and declining wages and job losses at the same time. High inflation is never caused by rising wages, it could be the result of collapsing currency and it always starts at the CB's printing presses. In 1970's we had a USD collapse but because the job markets were not globalized, workers were able to demand higher wages. Today we see higher wages in certain professions that are not globalized: skilled services, education, medical and real estate. Bottom line is whoever is able to raise prices is in a position to pay more to his employees. I bet wages of workers employed by homebuilders are going up, and did you know that experienced HVAC technicians make upwards of $40/h now ?

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