Earlier quoted context omitted.
[flagged]
Dead internet theory really is in overdrive, huh.
It truly is.
Nowadays, the Dead internet theory isn't even trying to hide it, its so blatant nowadays.
72% of the dollar's purchasing power was destroyed in just four episodes
141–150 of 277 posts
Re: 72% of the dollar's purchasing power was destroyed in just four episodes
#142Whoever wrote this article seems to think a strong dollar is fundamental to a strong economy. But, notice where it is on this timeline the only prolonged strengthening of the dollar that shows up. Yep, you've got it, the depth of the great depression. And, notice where the WWII and postwar weakening of the dollar led -- that's right, to in many ways the most prosperous economy the world has ever seen. Because we try…
And a strong currency usually means weak manufacturing. And I don't know how a country can be strong without a solid manufacturing sector. Like, when we a war breaks out, we ask our enemies to sell us components and medical key ingredients?
Didn't know Switzerland was a "weak" manufacturer (currently one of the strongest currencies there is, also in wide use).
Re: 72% of the dollar's purchasing power was destroyed in just four episodes
#143Whoever wrote this article seems to think a strong dollar is fundamental to a strong economy. But, notice where it is on this timeline the only prolonged strengthening of the dollar that shows up. Yep, you've got it, the depth of the great depression. And, notice where the WWII and postwar weakening of the dollar led -- that's right, to in many ways the most prosperous economy the world has ever seen. Because we try…
And a strong currency usually means weak manufacturing. And I don't know how a country can be strong without a solid manufacturing sector. Like, when we a war breaks out, we ask our enemies to sell us components and medical key ingredients?
If you aren't self-sufficient in energy, food, and to a lesser extent raw materials, a weak currency means everything is expensive.
Re: 72% of the dollar's purchasing power was destroyed in just four episodes
#144Earlier quoted context omitted.
Because Conservative politics is about returning to a past that often can no longer exist.
I didn't realize that such causes like 90+% income taxes, lower income inequality, single earner households, and high unionization rates are "conservative" too.
No one actually paid 90% income taxes. I wish that myth would go away.
Re: 72% of the dollar's purchasing power was destroyed in just four episodes
#145Earlier quoted context omitted.
The bigger question is, why is that even the primary goal?
I'll dig down 3 levels of "why". The endemic anti-intellectualism among white communities (especially rural and southern) has resulted in a steady decline of white people in well-paying professions in America. If you count the Jewish as a separate group, white people are likely a minority in corporate America. Combined with social upliftment of other groups ("wokism") and the opioid crisis (that has disproportionatel…
At my FAANG in Sunnyvale, I often feel like the last white guy on earth.
But I don't resent the people who stepped up to fill the jobs.
Rather, I am disappointed that these amazing jobs were basically gifted to US residents, but my fellow white people "Opted Out" of these high paying jobs.
Re: 72% of the dollar's purchasing power was destroyed in just four episodes
#146Earlier quoted context omitted.
Petro-yuan =/= reserve currency. USD reserve = print USD for everything liquidity to sustain debt financed existence where Triffin hollows out industry, and financialize everything because having stupid amount of liquidity incentivizes certain behaviors. Petro-yuan = PRC gives swap lines to trusted partners to buy oil denominated in yuan in exchange for things like resources. Hormuz ships ~1 trillion USD worth energy…
The problem with that plan is that no one wants to trade hard commodities for a currency that can’t be spent. One part of the dollars appeal is that it spends the world over. The sanctioned countries frequently have more liberal access to dollars than to unsanctioned yuan. So no one is going to take up a lot of yuan trade unless that changes or they are forced to. But that puts China in a bind. Liberalizing their cur…
You can buy from China though. And China is the largest import trading partner for the majority of countries in the world. They literally don't need to do anything to prop up a "petro-yuan".
Re: 72% of the dollar's purchasing power was destroyed in just four episodes
#147Earlier quoted context omitted.
You should check your hunch against the reality, at least periodically. The US dollar has strengthened since the current US-Iran conflict started.
I have checked. It’s too early to tell but anyway relative price is not what matters. What matters is purchasing power. EUR purchasing power was better and improving compared to USD. And check out interest rate derivatives — the euro has actually overtaken the dollar as the #1 currency in this massive market.
Purchasing power for what? Consumer goods? Most purchasing power calculations are completely bogus because they rarely compare goods of equal quality.
A neighborhood with just a Walmart doesn't have higher purchasing power than a neighborhood with just a Whole Foods.
Re: 72% of the dollar's purchasing power was destroyed in just four episodes
#148Earlier quoted context omitted.
One of the goals of the Heritage Foundation is a weak dollar. They believe they can bring manufacturing back to the US this way. I don't think they're right. I do think they will continue weakening the dollar.
> One of the goals of the Heritage Foundation is a weak dollar. They believe they can bring manufacturing back to the US this way. Only cheap labor can bring manufacturing back to the US. Are Americans willing to work in factories for the same wages as the Chinese and Indians? I don't see it happening.
What if the "same wage" as Chinese/Indians nets you close to the same basic necessities and purchasing power as those countries.
Re: 72% of the dollar's purchasing power was destroyed in just four episodes
#149Why don't they refer to the 3rd 'episode' as Vietnam - since the timeline lines up pretty nicely with that downward slope (and it's more than just the 70's as is highlighted in the article)?
If seeing this graph has taught me anything it's that war is hell on many levels - including economically.
This article also doesn't seem to account for the median price of a single family home.
Re: 72% of the dollar's purchasing power was destroyed in just four episodes
#150This study doesn't correct for baseline exponential decay due to inflation, to better highlight the meaningful variations. By comparing based on 1914 dollars it also causes old variations to be relatively more extreme and newer inflationary events to look less extreme. You must compare apples to apples. Finally the events are quite cherry-picked. It is a conclusion looking for a result, when the statistical reason fo…
Yes, a log chart would be better. That said, apples cannot be compared in this case; probably very few of us would choose to go back to 1914. A Tesla model Y would cost $1,680 in 1901 dollars, but would have been worth millions of those same 1901 dollars. Or nothing, depending on how much charging tech you could fit in the frunk. Many quality of life items are not covered by PPP (or money supply or other measures) adjustments.