241–250 of 605 posts
Earlier quoted context omitted.
If I have $10 from 10 years ago, they're worth less today. The government's incompetence and engagement in usury has caused my money to lose value.
They are pretty competent at getting inflation to the intended target. Maybe you're missing something?
Earlier quoted context omitted.
Sure, almost all central banks over the world have printed an astronomical amount of money. Even though they may state there is no significant inflation, I dont buy it and neither do many other economists. Stock prices, house prices and now, at last, commodity prices have gone through the roof... But you're probably earning about as much as you were a year ago, or less, if your industry was affected... It's not just…
Interest rates are at zero. When official inflation starts ticking up they'll raise interest rates which will deflate the stock & house price bubble and cut inflation off at the knees. We have lots of things to worry about -- inflation isn't one of them.
CPI is a joke, they do something called hedonic adjustments to things like tech products etc. It's completely subjective and BS. Technology is deflationary, things should get cheaper because we go after producing them in creative ways one demand is high. CPI is absurd, it only perpetuates consumerism and punishes savers. We product 2x the food society consumes - mostly wasted away, just with some supply chain efficie…
Earlier quoted context omitted.
It was prohibited in early Christianity before the Church gave in and allowed it.
I'd like to hear your source for this.
> At times, many nations from ancient Greece to ancient Rome have outlawed loans with any interest. Though the Roman Empire eventually allowed loans with carefully restricted interest rates, the Catholic Church in medieval Europe, as well as the Reformed Churches, regarded the charging of interest at any rate as sinful (as well as charging a fee for the use of money, such as at a bureau de change). [1]
So we see how the Church changed its opinion over time. They weaseled their way out of the prohibition, and today they don't say anything. Separation of Church and State also made it easier to engage in these sorts of practices.
CPI is a joke, they do something called hedonic adjustments to things like tech products etc. It's completely subjective and BS. Technology is deflationary, things should get cheaper because we go after producing them in creative ways one demand is high. CPI is absurd, it only perpetuates consumerism and punishes savers. We product 2x the food society consumes - mostly wasted away, just with some supply chain efficie…
Real question that nobody has yet answered: With what data CPI is even calculated? The data sources are all hidden. Related: https://news.ycombinator.com/item?id=26259279
Earlier quoted context omitted.
They are pretty competent at getting inflation to the intended target. Maybe you're missing something?
There shouldn't be a target. I don't want my money to be inflated artificially by the government.
Earlier quoted context omitted.
Here in Australia, some food prizes are up because the farming industry relies on cheap backpacker labor. Borders are shut so no backpackers come in, so a lot of fruit died on the field. https://www.nytimes.com/2021/03/02/world/australia/agricultu... It should be noted that the entire industry is notorious for doing every dodgy thing they can get away with, wage theft, rent theft, extreme conditions, so local workers…
That's amazing. Australia's farm labor is primarily relatively-wealthy vacationers who need a boost while they are far from home?
Pay the 400 bucks and you're good for a year.
You can work legally as long as it's no more than 6 months anywhere, and it's pretty easy to get around that.
You can extend your visa for another year if you do 88 days (~3 months) of "farm work" -- doesn't have to be on a farm per se, I know a guy who worked in a hyper-remote rural gas station ("road house").
I worked on a very remote cattle farm digging watering trenches and welding cattle pens. Then hitchhiked across the country.
Rising food costs. Rising housing costs. Rising unemployment and stagnating wages. Another crash coming in the next couple of years?
We printed our way out of a pandemic recession, so who knows what other nuclear options will be used to avoid near-term recessions.
Earlier quoted context omitted.
Real question that nobody has yet answered: With what data CPI is even calculated? The data sources are all hidden. Related: https://news.ycombinator.com/item?id=26259279
Keynesian economics kool-aid, all the Phd Econ guys worship guy who had done some really shady stuff in his life. Nobel prize in economics was started by Sveriges riksbank in 1968, just to perpetuate same ideaologies. Shady af.
Edit: not sure why I’m being downvoted. He admitted in his diaries as a 30 year old man he would pay for sex from 16 year olds, and referenced others as “boys” without ages. By modern standards he would be a sex offender for life. We seem to hold all historical figures by modern standards now, not sure why we give this pedophile a pass.