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As I often note here, when you push the pendulum to an extreme of wealth and income inequality, it will swing to the opposite extreme minus a tiny bit of friction. The depth of America’s indoctrination can be measured by the unquestioned assumption that Capital should earn 15% every year, rain or shine, while workers are fated to lose ground every year, rain or shine. And if wages should ever start ticking upward even slightly, then the Billionaires’ Apologists are unleashed to shout that higher wages means higher inflation, which will kill the economic “recovery.” Said another way:  if wages stagnate so workers lose ground every year as inflation in essentials rises, that’s the way it should be. If wages rise so workers can keep up with inflation, then that will trigger an inflationary death spiral.

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