8 ms·

But people pay for goods using the "some bucks" they earned as salaries.

phkahler 4y ago
You guys are missing the point. If we take X percent of the workers out of the market due to retirement (and age discrimination?) there will simply not be enough people to do all the work. Paying more at any or all levels will not create more workers. Inflation is starting to affect retirement plans, and some are coming out. But companies need to want them.
- CraigJPerry 4y ago
  The article claims people are not coming out of retirement and are unlikely to do so as the early retirees are comparatively well off.
  - Jensson 4y ago
    If there isn't enough labor to pay for their retirement then inflation will eat up all their retirement until there is enough labor.
    - vaidhy 4y ago
      They do not have to retire in UK either, right? You can take your nest egg and move to SE Asia?
      - wrycoder 4y ago
        Most people don’t have a nest egg these days.
    - CraigJPerry 4y ago
      >> enough labor to pay for their retirement Labour doesn't pay for their retirement. >> inflation will eat up all their retirement Their state pension increases in line with inflation thanks to the penion "triple lock" in the UK (this is temporarily the "double lock" for 22/23). >> until there is enough labor Adding labour has no direct impact on pension income, there can't be "enough labour" to reinstate a standard of living in a person's pension situation Instead what will happen is existing groups who are already below water (e.g. foodbank users) will suffer more pain.
      - Jensson 4y ago
        > Their state pension increases in line with inflation thanks to the penion "triple lock" in the UK (this is temporarily the "double lock" for 22/23). In that case you have a feedback loop creating infinite inflation that goes faster than those rate adjustments goes. There is no magical wand to wish away inflation like that.
- randomdata 4y ago
  You don't need more workers, though. Supply and demand. As prices rise, demand wanes, not requiring as many workers. When labour is free the amount of work is infinite, but with a higher price some work is no longer worth doing and workers get reallocated into the jobs that are still viable.
  - ilammy 4y ago
    You heathen, how can you even suggest that the number goes down!?
CraigJPerry 4y ago
Which people? Unemployment is low. Immigration is restricted to skilled people. In the aggregate, people who want a job already have better paying skilled labour options. Why take a job as a cashier for example?

You guys are missing the point. If we take X percent of the workers out of the market due to retirement (and age discrimination?) there will simply not be enough people to do all the work. Paying more at any or all levels will not create more workers. Inflation is starting to affect retirement plans, and some are coming out. But companies need to want them.

CraigJPerry 4y ago
The article claims people are not coming out of retirement and are unlikely to do so as the early retirees are comparatively well off.
- Jensson 4y ago
  If there isn't enough labor to pay for their retirement then inflation will eat up all their retirement until there is enough labor.
  - vaidhy 4y ago
    They do not have to retire in UK either, right? You can take your nest egg and move to SE Asia?
    - wrycoder 4y ago
      Most people don’t have a nest egg these days.
  - CraigJPerry 4y ago
    >> enough labor to pay for their retirement Labour doesn't pay for their retirement. >> inflation will eat up all their retirement Their state pension increases in line with inflation thanks to the penion "triple lock" in the UK (this is temporarily the "double lock" for 22/23). >> until there is enough labor Adding labour has no direct impact on pension income, there can't be "enough labour" to reinstate a standard of living in a person's pension situation Instead what will happen is existing groups who are already below water (e.g. foodbank users) will suffer more pain.
    - Jensson 4y ago
      > Their state pension increases in line with inflation thanks to the penion "triple lock" in the UK (this is temporarily the "double lock" for 22/23). In that case you have a feedback loop creating infinite inflation that goes faster than those rate adjustments goes. There is no magical wand to wish away inflation like that.
randomdata 4y ago
You don't need more workers, though. Supply and demand. As prices rise, demand wanes, not requiring as many workers. When labour is free the amount of work is infinite, but with a higher price some work is no longer worth doing and workers get reallocated into the jobs that are still viable.
- ilammy 4y ago
  You heathen, how can you even suggest that the number goes down!?

CraigJPerry 4y ago

Which people? Unemployment is low. Immigration is restricted to skilled people. In the aggregate, people who want a job already have better paying skilled labour options. Why take a job as a cashier for example?