MT: Inflation Has Eaten Up Nearly 100 Percent of Hourly Wage Gains Since 1973; COGwriter: Could this be an abortion curse?

(from Pixabay)

MishTalk posted the following:

Inflation Has Eaten Up Nearly 100 Percent of Hourly Wage Gains Since 1973

Accounting for CPI inflation, wages for production and nonsupervisory workers is nearly the same today as February of 1973.

In nominal terms, wages rose from $4.05 in February of 1973 to $26.95 in March of 2022 but inflation ate nearly 100% of those gains. …
A soaring CPI had led to negative real earnings. The drop in purchasing power was steep in March of 2022. 04/13/22 https://mishtalk.com/economics/inflation-has-eaten-up-nearly-100-percent-of-hourly-wage-gains-since-1973

Because of shenanigans from the government economists, I believe that the inflation rate is actually significantly higher than the official numbers. Hence, there has been a loss of buying power since 1973.

Notice the following report about inflation:

April 14, 2022

As expected, the March Consumer Price Index was smoking hot with a 1.2% month-on-month increase and an 8.5% annual gain. …

Core inflation wasn’t quite as high as expected leading many to conclude that we’ve reached “peak inflation.” In his podcast, Peter Schiff said this is just wishful thinking.

The March CPI reflected the first impacts of the Russian invasion of Ukraine and the spiking oil prices that followed. Although the CPI was slightly above the consensus expectation, many thought it would surprise to the upside. Peter said some people were relieved the numbers weren’t even higher.

The annual CPI gain was the biggest since 1981, but Peter reminded us that this is basically comparing apples to oranges.

Forty years ago, we used entirely different CPI than we use today. And as far as I can tell, we are generally missing the mark by about half, meaning that if we use the 1981 CPI to measure the 2022 price increases, we probably would see a year-over-year rise of 17%, which is twice eight-and-a-half.”

… Peter noted that in 1981, the last time CPI was this high, interest rates peaked at 20%. https://schiffgold.com/peters-podcast/peter-schiff-peak-inflation-is-just-wishful-thinking/

And yes, if inflation was 17% in the past year, and was higher than the official numbers prior to that, yes, the purchasing power has diminished.

Could the loss of gain in purchasing power since 1973 be an abortion curse?

Yes, I believe part of the reason for this is a curse for legalizing abortion.

The US Supreme Court “legalized” abortion On January 22, 1973 in the famous Roe vs. Wade decision.

This has not been good for the USA in economic, moral, and non-economic ways.

Yet taking the opposite view in 2018, Chelsea Clinton promoted the view that abortion has been a major positive contributor to the economy of the USA:

August 15, 2018

Clinton, daughter to former President Bill Clinton and Secretary of State Hillary Clinton, hosted the Rise Up for Roe event in New York. She was speaking to the potential threat to reproductive rights posed by President Donald Trump’s nominee to the Supreme Court, Judge Bret Kavanaugh, and why people should care.

“Whether you fundamentally care about reproductive rights and access right, because these are not the same thing, if you care about social justice or economic justice, agency – you have to care about this,” Clinton said, according to the Media Research Center.

Clinton continued: “It is not a disconnected fact—to address this t-shirt of 1973—that American women entering the labor force from 1973 to 2009 added three and a half trillion dollars to our economy. Right? The net, new entrance of women—that is not disconnected from the fact that Roe became the law of the land in January of 1973.” …

It is unclear exactly what statistic or study Clinton was citing about the additions to the U.S. economy since abortion became legal. https://www.newsweek.com/clinton-trillions-abortion-added-economy-1074390

Disgusting: The Left has always gone out of its way to justify abortion — the flat-out murder of an unborn baby — since Roe v. Wade in 1973, but former first daughter Chelsea Clinton just won the award for the most barbaric. … Democrats never pass up on an opportunity to ‘defend’ a woman’s ‘right’ to kill her unborn baby. At a “Rise Up for Roe” event on Saturday, Clinton promoted the ‘economic advantages’ of abortion…

“It is not a disconnected fact – to address this t-shirt of 1973– that American women entering the labor force from 1973 to 2009 added three and a half trillion dollars to our economy. Right?

Not only is this one of the sickest reasons any Democrat has come up with to justify the murder of unborn human beings, how did she even arrive at this figure? …

“The net, new entrance of women – that is not disconnected from the fact that Roe became the law of the land in January of 1973.”

Thus, no matter what other things Americans may care about, everyone should appreciate the economic value of legalized abortion, Clinton said…

What a great political thinker Chelsea is! We can hardly wait until she becomes president! https://thenationalsentinel.com/2018/08/15/the-way-chelsea-clinton-just-justified-the-murder-of-unborn-babies-is-sick/?mc_cid=7c97e45fc8&mc_eid=c2cbcbc77c

It is not “social justice” to allow unborn babies to be killed.

Chelsea Clinton also said, “Reproductive rights have always been economic rights.”

So, she believes that killing babies is some type of positive economic stimulus.

Notice the following:

13 “Behold, therefore, I beat My fists at the dishonest profit which you have made, and at the bloodshed which has been in your midst. 14 Can your heart endure, or can your hands remain strong, in the days when I shall deal with you? I, the Lord, have spoken, and will do it. 15 I will scatter you among the nations, disperse you throughout the countries, and remove your filthiness completely from you. (Ezekiel 22:13-15)

CBS reported the following:

For most Americans, income is on the decline

July 3, 2017

President Ronald Reagan might have clinched the 1980 election when he asked: “Are you better off now than you were four years ago?” Today the question is: Are you better off than your parents were 50 years ago?

According to a study by the National Bureau of Economic Research (NBER), the answer — at least in terms of paychecks — is no. Most Americans are worse off, and becoming even more worse off, if possible.

In particular, men have endured “stagnation in lifetime incomes,” said the NBER report, with earnings that have dropped 19 percent when inflation, as measured by the Consumer Price Index (CPI), is taken into account. In real dollars, males have lost close to $300,000 in lifetime earnings compared to the generation that came of age during the 1950s and 1960s boom years. http://www.cbsnews.com/news/for-most-americans-income-declines/

Fifty years prior to 2017 would be 1967.

What started to happen then?

Fifty years ago, the abortion industry begin to rise up and have legislative success in various US states:

Between 1967 and 1973 one-third of the states liberalized or repealed their criminal abortion laws. However, the right to have an abortion in all states was only made available to American women in 1973 when the Supreme Court struck down the remaining restrictive state laws with its ruling in Roe v. Wade. (History of Abortion. National Abortion Federation. http://www.prochoice.org/about_abortion/history_abortion.html viewed 04/02/13)

Since States began to “liberalize” or repeal anti-abortion laws, the economic situation in the USA began to change (bolding and italics in source):

Until 1970, the United States had a trade surplus and an inflow of money sometimes called a favorable balance of trade. After 1970, for the first time in a century, the United States was buying more goods abroad than it sold. It moved from a trade surplus to a trade deficit, when imports exceed exports, and money was flowing out of the United States in payments to foreign countries for imports. Since 1970, the unfavorable trade balance and trade deficit has grown…

After World War II until 1970, the United States was a creditor nation lending money to other countries. As a creditor nation, other countries owed more money to the United States than the United States owed to foreign countries.

After 1970, the United States became a net debtor nation. As a debtor nation, the United States owes more money to foreign countiress than the foreign countries owe the United States. The United States is now the largest debtor among all nations. (Howard J. Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip Anthony O’Hara. Economics: An Introduction to Traditional and Progressive Views, 7th edition. M.E. Sharpe, 2008, p. 175)

Since 1973, pay and productivity have diverged.

From 1973 to 2016, net productivity rose 73.7 percent, while the hourly pay of typical workers essentially stagnated—increasing only 12.5 percent over 43 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years. (The Productivity–Pay Gap. https://www.epi.org/productivity-pay-gap/ accessed 02/01/18)

Economists like puzzles, and recent economic data have generated a fair share of them. For instance, the U.S. labor market recovery has been underway for years, yet growth in inflation-adjusted wages remains weak. More broadly, the male median wage still is in the general range of where it was in 1973. (https://www.bloomberg.com/view/articles/2018-08-29/the-something-s-not-quite-right-economy)

Average wages, when adjusted for inflation, have remained near where they were in the 1970s … (Semuels A. This Is What Life Without Retirement Savings Looks Like. The Atlantic, February 22, 2018)

It should be pointed out that although others believe that the line from an overall creditor to debtor nation happened in the 1980s (as opposed to annually which began around 1971), the process began earlier:

March 22, 2010 – Only a few decades ago, the United States was the world’s largest creditor nation. American capital spanned the globe financing all types of investments in virtually every country. But that dominance began to erode in the 1960s … By the 1980s, the inevitable happened. As generations of accumulated wealth disappeared, a line was crossed. America now owed more to the rest of the world than the world owed to it. The United States had become a debtor nation, and it has continued to run up the tab in the decades since. (Turk J. Debtor Nation. http://www.fgmr.com/debtor-nation.html viewed 04/03/13)

Notice some prophecies from the Book of Deuteronomy:

5 … if you carefully obey the voice of the Lord your God, to observe with care all these commandments which I command you today. 6 For the Lord your God will bless you just as He promised you; you shall lend to many nations, but you shall not borrow; you shall reign over many nations, but they shall not reign over you. (Deuteronomy 15:5-6)

15 “But it shall come to pass, if you do not obey the voice of the Lord your God, to observe carefully all His commandments and His statutes which I command you today, that all these curses will come upon you and overtake you:

16 “Cursed shall you be in the city, and cursed shall you be in the country. ….

43 “The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail. (Deuteronomy 28:15-16, 43-44)

Since “legalizing” abortion, the USA has gone from the world’s largest creditor nation to the world’s largest debtor nation.

And it remains committed to increasing its debt. That is also something the Bible warns will lead to destruction (cf. Habakkuk 2:6-8).

Some items of possibly related interest may include:

Might the U.S.A. Be Gone by 2028? Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
Abortion, the Bible, and a Woman’s Right to Choose Do you know what the Bible teaches on this? Has the Roman Catholic Church allowed abortions? What about the real Church of God? Some may wish to view the YouTube videos: Abortion and Birth Control: History and Scriptures. Abortion, the Bible, and US Debt, American Infanticide, Euthanasia: Mercy killing or murder?, and Land of ‘Free’ Abortions and Debt.
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
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USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
When Will the Great Tribulation Begin? 2022, 2023, or 2024? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Can the Great Tribulation start in 2022 or 2023? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
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The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
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