The Ormond Beach Observer article on stagnant wages in Ormond Beach misses the bigger point of the relationship between wages and inflation.
Inflation is the increase in money supply. The Federal Reserve System, “the Fed,” has increased the money supply by trillions during the past decade with the consent of Congress by raising the National Debt. Higher prices are a consequence of Federal programs such as TARP, Quantitative Easing and QE2, etc.
Debt by any other name remains debt.
The natural consequence of increased debt is less purchasing power. Higher gas pump and grocery prices are a result of increasing the money supply. Since the beginning of the Federal Reserve, the purchasing power of the dollar has fallen 95%. The relative relationship between the inflation caused by an increased money supply and your purchasing power continually deteriorates.
Unfortunately, the government-caused inflation also works against those on pensions, Social Security and wages.
The next time you hear a politician or an economist justify an increase in the national debt ceiling, expect less ability to buy daily necessities of life regardless if you earn a wage, live off of a pension or Social Security. All the labor statistics are insignificant compared to the NATIONAL DEBT.
Alan H. Burton
It’s a ‘ruff’ life
I recently retired from the Air Force and bought a house in Ormond by the Sea. I spend half the year here and am loving the beach life. I love my dogs and enjoy taking them with me whenever possible, so when Ormond approved allowance of dogs on outside patios, I was thrilled.
Flagler County was already really dog-friendly, but now that I can take my Boxer, Joe, to restaurants, such as Lagerheads and Lulu's, we spend much more time relaxing over lunch outside. The wait staff and other customers are almost always happy to see a well-behaved dog enjoying Florida.
Ormond by the Sea
Speaking of orchids ...
In reference to the article in your Feb. 21 edition, ”Agent: Housing market blooming, like orchids,” I discussed orchid plants earlier today
My plant at home is a Cymbidium orchid. It is a terrestrial orchid. I have had the plant for about 15-20 years. It has bloomed every year with minimal care.
The plant has 15 flower spikes with 10-12 blooms per spike. After inspecting the plant, I found five additional spikes that are not mature and will bloom in about 20 days.
My little (cops) corner of the paper
I was just over here laughing and laughing at Cops Corner, Feb. 21. It’s just so well-written. It just makes my day a little brighter.