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

[JL 0513]

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...

 

[cosmo1]

Yes.

 

[upschuck]

COLA raises would kick in.

 

[Indecisi0n]

We strike.

 

[oldngray]

COLA raises would kick in.

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.

 

[silenze]

COLA raises would kick in.

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

 

[IVE GOTTA PACKAGE 4U]

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...

I owe very little money out. Wouldn't lose anything, might have to drink cheaper beer.

 

[By The Book]

I owe very little money out. Wouldn't lose anything, might have to drink cheaper beer.

Or......., maybe a little less of the good stuff.

 

[IVE GOTTA PACKAGE 4U]

Or......., maybe a little less of the good stuff.

Maybe start with the good stuff, get a buzz and drink the cheap crap.

 

[oldngray]

Maybe start with the good stuff, get a buzz and drink the cheap crap.

You already do that to your guests.

 

[IVE GOTTA PACKAGE 4U]

You already do that to your guests.

I have no friends. I don't share my beer.

 

[BSWALKS]

You already do that to your guests.

That & hit on their wives.

 

[oldngray]

That & hit on their wives.

... and daughters.

 

[BSWALKS]

... and daughters.

And nephews

 

[upschuck]

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

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

 

[Big Arrow Down...D]

And nephews

And himself...

 

[BSWALKS]

And himself...

Who doesnt?

 

[IVE GOTTA PACKAGE 4U]

Or are you thinking more like Zimbabwe?
Where the workers get paid every day.
Because the prices go up every day.

 

[IVE GOTTA PACKAGE 4U]

And nephews

Screw

And himself...

You

 

[BSWALKS]

Screw

You

Promises , promises