Fortunately, we can rely on continued immigration to increase the labor supply and control wage inflation and that's a good thing. The price spiral with flat wages will result in a generally reduced quality of life for the American worker though. I think that's a bad thing, but nobody in power has cared about that for the past fifty years[1] so why start now?

[1] https://economics.stackexchange.com/questions/15558/producti...