By Dave Bloke
One of the ideas being floated around at the moment to tackle the Gilets Jaunes crisis is an immediate hike in the NMW - say 20 to 30% but from TOS I remember the argument that it is a bit of a zero sum game and all this does is push up costs but with the added issue that NMW jobs would begin to pay something close to what I earn as a Senior SW developer, so why would I continue to take responsibility for what I do and not seek an easier NMW job.
By Chewing Grass
Just thought I'd have a go of the Yankee inflation calculator and the Bank of England one after noticing how much a B52 Bomber was in 1955 and adjusted for inflation.
U.S. Inflation Rate, 1955-2015 ($100) = 3.70% per year. Prices in 2015 are 784% higher than in 1955. $100 equivalent purchasing power now requiress $784.39 over 60 years.
BofE Inflation Rate, 1955-2016(£100) = 5.40% per year. Prices in 2015 are 2366% higher than in 1955. £100 equivalent purchasing power now requires £2366.59 over 60 years.
That is the importance of the Dollar hedgemony, that is the effect of compounding, that is in part why the U.K. has been royally fucked over and why the U.S. military is so 'important' for the Yanks.
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