Richard D. Wolff

On the Thom Hartmann program: Are the rich getting richer from causing inflation while most Americans get poorer? Grocery prices are rising, rent, fuel cost and soon inflation will get so bad you many Americans will stop getting loans for cars, loans for college and stop spending much money at all. The Consumer Price Index (CPI) is due this week and the Producer Price Index (PPI) has just been published. These both seem very dull, but the way they affect you can be dramatic. It’s called inflation. The effect on your pension fund could mean that wages are reduced, meaning you may have less to live on in your old age. Say goodbye to retirement. How important it is to keep a watch on the CPI and PPI? Why are employers shifting the blame to wages?

Watch the segment here.