[justshutupandtakeit]

The chart was REAL wages i.e. wages after inflation is factored OUT. NOMINAL wages increased even more.

Another economic concept you need to understand is the difference between real and nominal.

[Paul Ross]

The chart was REAL wages i.e. wages after inflation is factored OUT.

Roooight. Using Xlinton's CPI.

[1rudeboy]

Help me out here with my figures: the graph I posted in my #170 shows an approx. 9% increase in real wages from 1994-2004. Is this correct?

Now, help me again: if inflation is being understated to the degree Paul Ross suggests (let's say everybody out there is simply treading water), then that 9% should be added to our average 10 year inflation rate. So let's say the "true" inflation rate is 9% + 3.5% = 12.5% (is 3.5% the proper figure? help me).

Wouldn't that mean that consumer prices have more than doubled during this ten year period (as everyone's treading water), and no one but Paul Ross has noticed?

DISCLAIMER: The views contained in the above comment do not represent a working familiarity with mathematics.