With inflation at 7% year over year, a 5% pay increase does you no good...
It's nice getting that pay raise right?!
It's been a long time coming and a nice 5% jump feels like a big deal.
That $60k a year job is now paying $63k per year.
Yes!
Except you are still losing....
(Source: https://twitter.com/RD_btc/status/1481549839448084480/photo/1)
A 5% pay increase in the face of 7% inflation means you are still earning 2% less than you were previously.
Yikes!
You need to get a 12% pay increase to really feel a 5% increase with the 7% inflation.
We've had 3 straight months of 6-7% inflation numbers, which is the highest inflation levels in 50 years.
I fully expect this inflation to die down rather quickly, but I do think that overall inflation isn't going away.
That's where bitcoin comes in...
Thank You for sharing Your insights...
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That is why I like the option that the steemit platform gives us, to have profits in cryptocurrencies! attenuates inflation
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Thank You for sharing...
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Upvoted! Thank you for supporting witness @jswit.
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Thank You for sharing...
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Sad but true
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