Tuesday, April 29, 2008

The Sarcasm Report v.22

As inflation squeezes middle-class Europe, anxiety about the future

"The problem," said Julián Cubero, chief economist for Spain for BBVA, a leading Spanish bank, "is that if your salary rises more slowly than the cost of products you buy on a daily basis, you feel poorer every day."

This seems mighty controversial. Surely he must have known that the blogging universe would be all over his questionable claim.

On the other hand, I'm drawing a blank when attempting to shoot holes in his argument. Maybe he's onto something there.

2 comments:

MAB said...

Stag,

The Euro region needs educate its populace on the power of hedonics.

Understand now that hedonics won't put an extra plug nickel in your pocket. In fact, hedonics will actually reduce the amount of actual money you have. But, and this is important, hedonics allows others to create and spend money on your behalf. And that is a REAL benefit. Just not to you.

Priceless. Or should I say pennyless.

Stagflationary Mark said...

MAB,

December 20, 2003
Relax, you’re only as poor as you feel
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article1046881.ece