17.5% Inflation Since Biden Took Office Leads to Many Strikes

If inflation went up more than your wages, would you be trying to re-caputure your buying power?

That’s what happened during the 1970’s.

When I was elected State Reprersentative in 1972, the legislative wage was $17,500, (And one could take the whole salary on the first day. My Democratic Party colleague Tom Hanahan did just that, but I thought that would not be a good idea for me, so I took it monthly.)

In the early 1970’s, the General Assembly raised it to $20,000 per year and there it sat though the “Whip Inflation Now” years of the Nixon-Ford-Carter Administrations.

At the end of the decade a bill was advanced to raise the salary to $28,000.

I voted for it.

Governor Jim Thompson was out of town, but vetoed the bill using his autopen.

I left to fly to Washington in my unsuccessful quest for Congress.

While I was at O’Hare, the veto override vote was held.

I was recorded a voting in favor.

I had left my key in the voting switch and someone had voted me “Aye”.” (I thought it was Hanahan, but really don’t know\and I couldn’t complain because I would have voted for the override.

= = = = =

From Stephen Moore’s Unlease Prosperty Hotline #857:

At that point I started wearing my key around my neck, becoming a latchkey legislator.

Now comes the UAW asking for a 40% raise.

The car companies counter with 20%,

Steven Moore’s Unleash Prosperty #

Unions Have Gotten Crushed by Bidenomics

The UAW — one of the nation’s largest unions — went on strike last night as their demands for a four-year 40% hike in wages have been rejected by Ford and GM. Hollywood writers and actors are on strike as well. 

Union strike activity is up more than 50% since Trump left office. 

We’re not surprised at all by the agitation and more militant demand by the unions. Inflation has put a huge dent in the real wages and salaries of union workers.

They’ve been losing money under Biden’s inflation.

Since Biden entered office the CPI is up around 17.5% and most union contracts fell well short of that mark. [Emphasis added.]

Historically, strike activity is highly associated with inflation – and that’s been proven true statistically. \

The chart above shows the surge in the number of work stoppages in the late 1960s and ‘70s.

That’s the period of Nixon-Ford-Carter when inflation surged from 3 to 6 to 8 to 11%.

What irony that Biden (who boasts that he is the most “pro-union president in history”), has done more damage to union real take-home pay than any other president since Jimmy Carter. 

As CTUP economists EJ Antoni and Stephen Moore have shown:

“History proves that mismanagement of the money supply and a dollar that loses value causes convulsions in the labor market. Annual inflation spiked to 7.9 percent for 1951, and a record 470 strikes occurred the next year. In the late 1960s, inflation rose to 5.4 percent and the number of strikes rose above 400. 

But as price volatility moderated starting in the Reagan years, so did strikes.

Not only did inflation decrease in the early 1980s, but it became more predictable too.

A stable dollar that retained its value allowed labor and management to reach mutually agreeable contracts on wage increases.


17.5% Inflation Since Biden Took Office Leads to Many Strikes — 18 Comments

  1. I remember Hanahan, another Dem grifter.

    You have stikes instead of strikes, btw.

  2. Saayyy Whhaaattt!

    You Constitution amending knuckleheads were getting, adjusted for inflation $148,575?

    My first job out of college in 1977 I earned exactly $17500 and the Parker Brothers ‘The Game of Life’ gameboard ‘best salary’ to land on was $20,000, which is probably how you chiselers determined your 70’s increase.

  3. For those that can still do math, the 1972 Indexing Factor is 8.4912767

  4. “Bidenomics” is when people are poor and the middle class is disappearing and people can’t afford groceries and inflation is higher than wage growth but you pretend things are good and if anybody disagrees you call them ultra maga or trumpers or some similarly stupid pejorative to dismiss their plight.

    More great genius messaging fro ol’ scranton joe.

    No no the economy is good. They just don’t KNOW it’s good based on their living conditions because… because they just don’t okay?! But it is! Okay?!

    Listen Jack! The economy is good. It’s Bidenomics! Bidenomics! Come on, man! Are you a lying dog faced pony soldier, Cal?

  5. yet the stupid libtards keep voting in the big ahole libtard Da Man, now you see it means nothing … why don’t you get smart and vote for the person who will help the entire country … of legal citizens… not just your union pos with the gold chains.. time to get woked … or continue to wear the Rat Suit.. representing stupid…

  6. Joe would say that all of this talk about inflation is malarkey.

  7. Who is in the oval office idiot. Prove he didn’t get them, You are the truth guy. LOL

  8. Still angry Porkboy? I’ve provided ample evidence. If you choose not to look at it that’s on you. LOL

  9. “Who is in”

    Commander McBragg from Tennessee Tuxedo cartoon.

    Let’s see, in his latest adventure just last week, he was at Ground Zero on 9/11, week before, he too lost everything in a fire, well maybe a kitchen coffee pot.

    We sure know how to pick em’.

  10. I mean would someone please replace the battery in Biden’s ‘anecdote shock collar’?

    Or is the Secret Service just letting him riff-on, for their after work laughs at the bar.

  11. Secret Service #1: “I’ve been giving ‘Celtic’ jolts when he makes sense”

    Secret Service # 2: “I saw that, hilarious.”

    Secret Service # 1: “Tomorrow, I’ll mix it up”

    Secret Service # 2: “Yeah, kinda like a lab mouse”.

  12. And then there’s this. LOL

    Arrested child trafficker admits to boarding school used as front for organ harvesting network in Ukraine.

    Ukraine is an open haven for those who are committed to child sex trafficking.

    Yesterday the Clinton’s and the Pope partnered up to rebuild Ukriane at the Clinton Global Initiative in New York.

    Even the Empire State Building stood blue for those satanic pedophile.

    Today the International Criminal Court said its computer system were hacked. 𝐓𝐡𝐞𝐲 𝐰𝐞𝐫𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐰𝐚𝐫 𝐜𝐫𝐢𝐦𝐞𝐬 𝐢𝐧 𝐔𝐤𝐫𝐚𝐢𝐧𝐞.

    Ukraine is involved in money laundering and bribery schemes involving almost all politicians in the US Congress.

    They have made Ukraine their number one priority for this reason.

    The only solution is military. 𝐏𝐮𝐭𝐢𝐧 𝐰𝐢𝐥𝐥 𝐰𝐢𝐩𝐞 𝐭𝐡𝐞𝐦 𝐨𝐮𝐭.

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