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Meanwhile I'm doing press events, admitting that most if not all of last year's job growth can be attributed to illegal immigration. Suggesting we may not see that "growth" going forward. Without anyone even making the connection to average wages... 🧐
Goodness
I didn't know it was that bad over there
What happened in 1951?
Never forget what you lived through.
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LLM says:
Around 1950–1951, the Korean War triggered a sharp inflation spike, with consumer prices rising faster than wages could adjust.
If this chart mixes—or poorly adjusts for—nominal wages and real (inflation-adjusted) wages, it can create the appearance of a sudden “drop” that’s really just a lag in purchasing power, not wages being slashed.
woah 1933-1945 was pretty tough. respect.
“It’s the building codes that are too strict” - an actual boomer I know
I can't wait for these people to be gone.
Now do Canada! 😂
wtf happened in 1951?
Just…..damn.
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The value of a house has not gone up. Adjusted for the raw materials plus labour it has slightly decreased for same comparable house. The real story is wage deflation.
Thanks thats what I was thinking.. didn't make sense for wages to suddenly drop in a post-war boom
Easy credit with negligible liquidations of negative equity fuels unsustainable property prices.
