101–110 of 192 posts
Earlier quoted context omitted.
> The US Big Mac [1] has 11% more calories than the Denmark Big Mac [2], which is an 11% difference. Sorry, could we get someone to check those numbers?
Well you need two guys, one from the US, one from Denmark and they booth need a calorie counter machine.
Is the article hard to read for anyone else? The font looks terrible with jaggies everywhere. After removing "Charter" from the variable "--ds-type-system-serif" on :root, the page became legible. FF96 on void.
Amusing that Russia has the world's cheapest Big Mac. Sorry Lenin, old chap.
So the low price simply reflects the low demand.
The problem with the big mac index is that it assumes people still like mcdonalds.
Thought it was going to be this one, which I enjoy using a lot and find useful for getting the big picture. https://inflationchart.com/cpi-in-bigmac https://inflationchart.com/spx-in-bigmac In the 70s you could work minimum wage for an hour and afford three Big Macs. Now you have to work almost an hour to afford one Big Mac.: https://inflationchart.com/minwage-in-bigmac
US Income vs US Cost of Living tells a different story. The income rose 55% more than the cost of living: https://inflationchart.com/income-in-life
Thought it was going to be this one, which I enjoy using a lot and find useful for getting the big picture. https://inflationchart.com/cpi-in-bigmac https://inflationchart.com/spx-in-bigmac In the 70s you could work minimum wage for an hour and afford three Big Macs. Now you have to work almost an hour to afford one Big Mac.: https://inflationchart.com/minwage-in-bigmac
The minimum wage one is next to useless. States and cities set their own minimum wages. Unemployed people or people on fixed income have wages of 0. This chart doesn't really describe any meaningful set of the population or how they are doing.
> The Big Mac index was invented by The Economist in 1986 as a lighthearted guide...
> Burgernomics was never intended as a precise gauge of currency misalignment, merely a tool to make exchange-rate theory more digestible.
And before you go and dissect the last sentence as E claiming it has actual use, stop and look both ways for puns.
PPP doesn't really mean that a currency is 'undervalued' or 'overvalued' with respect to one another, just that local efficiencies or inefficiencies make procurement of a basket of goods relatively more or less expensive there relative to tradeable goods no?
Thought it was going to be this one, which I enjoy using a lot and find useful for getting the big picture. https://inflationchart.com/cpi-in-bigmac https://inflationchart.com/spx-in-bigmac In the 70s you could work minimum wage for an hour and afford three Big Macs. Now you have to work almost an hour to afford one Big Mac.: https://inflationchart.com/minwage-in-bigmac
> "You're now losing -1% of your money to inflation per year or 1.0% per month"
What on earth does that mean? Inflation of 6% annualized is 0.4% per month.
Big Macs against the S&P 500 is some sort of chart crime. Yeah, companies became more valuable because we're good at making companies. That's got very little to do with ... anything. [edit] Especially since the S&P 500 isn't some sort of platonic ideal - it's a moving target! They replace companies over time!
Further, wage growth not matching production efficiencies or even decelerating is not a monetary policy issue (or anything to do with inflation) but a social policy issue. Specifically, minimum wage not tracking inflation, and in my opinion, a broad-based rejection of unions.
It's kind of hard to take these sites seriously when they fail at both math and economics.
And more than that when they steal my back button.