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In the event of hyperinflation, are we frozen for years until a new contract?
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<blockquote data-quote="JL 0513" data-source="post: 1785033" data-attributes="member: 50088"><p>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. </p><p></p><p>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. </p><p></p><p>Just something to discuss...</p></blockquote><p></p>
[QUOTE="JL 0513, post: 1785033, member: 50088"] 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... [/QUOTE]
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In the event of hyperinflation, are we frozen for years until a new contract?
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