In the event of hyperinflation, are we frozen for years until a new contract?

Discussion in 'UPS Discussions' started by JL 0513, Aug 14, 2015.

  1. JL 0513

    JL 0513 Well-Known Member

    Figured I'd start a different type of conversation. A topic that could see realization in the not too distant future. Everyone should know that the path this country (and the world, frankly) can't continue with 100's of trillions in unfunded liabilities and everything will be fine and that a normal inflationary pace will continue. Just imagine the US dollar being dropped as the world's reserve currency which the price of oil and thus everything is based on. America has a massive advantage because of our reserve status. If that goes, absolute hyperinflation will ensue.

    So to topic, if this were to happen and the value of a dollar plummets and we are years away from a new contract stating our wages, are we stuck and essentially screwed? Is this the ultimate downfall of a contract? Other businesses without contracts would more quickly adjust wages in the wake of hyperinflation, even if wages would still lag behind somewhat. Is there no stipulation about this in our agreements? Imagine if our $33/hr became equivalent to $15 or $20 with no wage adjustment for 2 years? We'd lose everything even while continuing our same job position.

    Just something to discuss...
  2. cosmo1

    cosmo1 Just another internet hooligan.

  3. upschuck

    upschuck Well-Known Member

    COLA raises would kick in.
    • Like Like x 2
    • Agree Agree x 2
    • Funny Funny x 1
    • List
  4. Indecisi0n

    Indecisi0n Well-Known Member

    We strike.
  5. oldngray

    oldngray nowhere special

    If a COLA was in the contract. Rate of inflation was higher than expected in early 1980's but we had a nice COLA clause so hourly wage increased more than predicted. After than UPS was more cautious and started limiting possible adjustments.
  6. silenze

    silenze Lunch is the best part of the day

    You mean that thing that happens once a year that gets diverted to health insurance?

    Yes we would be screwed beyond belief
    Also our pensions would be worthless
    Last edited: Aug 14, 2015
  7. I owe very little money out. Wouldn't lose anything, might have to drink cheaper beer.
    • Beer Beer x 4
    • Funny Funny x 1
    • List
  8. By The Book

    By The Book Well-Known Member

    Or......., maybe a little less of the good stuff.
  9. Maybe start with the good stuff, get a buzz and drink the cheap crap.
  10. oldngray

    oldngray nowhere special

    You already do that to your guests.
  11. I have no friends. I don't share my beer.
    • Funny Funny x 2
    • Like Like x 1
    • Agree Agree x 1
    • List

    BSWALKS Easily Amused

    That & hit on their wives.:biggrin:
  13. oldngray

    oldngray nowhere special

    ... and daughters.

    BSWALKS Easily Amused

    And nephews
  15. upschuck

    upschuck Well-Known Member

    I don't think we ever hit the threshold, do we. I remember one time when we got an extra 12¢/hr, I think.
  16. Big Arrow Down...D

    Big Arrow Down...D Leave the gun,take the cannoli

    And himself...

    BSWALKS Easily Amused

    Who doesnt?
    • Agree Agree x 1
    • Funny Funny x 1
    • List
  18. Or are you thinking more like Zimbabwe?
    Where the workers get paid every day.
    Because the prices go up every day.
  19. Screw
    • Like Like x 2
    • Beer Beer x 1
    • List

    BSWALKS Easily Amused

    Promises , promises
    • Funny Funny x 2
    • Winner Winner x 1
    • List