Mqurice was here

[Mqurice]

Snowshoe, I suppose I should save a lot of old posts! There have been some good ones. Meanwhile, a Booms, Bust and Recoveries [aka Great Financial Collapse of 2001 which didn't happen] post. Inflation is NOT looking likely as pay rates remain in the doldrums.

I say ditch the hedonics, Consumer Price Index and all that stuff. What counts with money is the value of a person; their hourly rate. If the hourly rate of the world's population isn't rising in US$, then there isn't inflation.

http://www.siliconinvestor.com/headlines/financial/20020709/D7KLMMK80.html

<By ADAM GELLER 07/09/2002 18:01:44 EST
NEW YORK (AP) - The uncertain economy and soft job market will cap pay increases this year for most workers, with employers parceling out raises of just under 4 percent.

Employers tapped in two recent surveys said their salary budgets for the year are up 3.7 percent to 4.1 percent, depending on the type of workers, but that they anticipate slightly more generous increases in 2003.

The scrimping by employers marks the first time in nine years that companies have backed away from intended 4 percent increases, a figure that has become almost standard practice, according to one survey by the Conference Board, a New York-based research group.

But it also is a sign that, after more than a year of freezing pay or delaying increases, some employers are starting to ease up a little, reports Mercer Human Resource Consulting, author of the other survey.

That is backed up by a third study, commissioned by business publisher BNA Inc., which finds that while economic conditions won't soon lead to juicier pay increases, the situation for workers has probably stabilized.

"Just because the economy starts to improve doesn't say that wage increases are going to start to accelerate right away," said Joel Popkin, whose economic consulting firm conducts the BNA study. "Wages aren't going back up to 4 percent anytime soon, but on the other hand, they may be at bottom." ...continued... >

So, in the USA, there isn't significant inflation. India, China, Indonesia, Japan, Africa and Europe are not getting a lot of it either. I'm not sure if Latin America is still there or not - Argentina went bust or something and others are dodgy at best.

Mqurice