RE:RE:RE:inflation comingTo illustrate. 10 years ago an oilfield field operator contractor made net 120 thousand dollars per year in canada. He got bonus for keeping production up.
Today ai decides hiw to keep production up. So operator just follows instruction. Net today for operator is 60 thousand. That is 50% reduction and 50% inflation.
Example 2. When I was a kid, I came back from a euto your completely broke.
Hiered on as a rough neck on oil rig. Came out in 6 weeks and paid cash for a brand new pickup.
Went back to work for 2 more weejs and bought a slightly used 450cc durt bike 4 cash.
2day a new low end pickup is 30 thousand. A roughkneck makes 22.00 per hr.
Works 2000 hrs in a year if fortunate. That is 44 thousand. Tax man takes 8.
That leaves the roughy with 36 thousand. Needs 24 thousand to live. With interest tacked on the pickup, he uses all available cash for 3 years 2 buy the same pickup, I bought in 6 weeks.
He does not get 2 go holiday.
nf