241–250 of 277 posts
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No one actually paid 90% income taxes. I wish that myth would go away.
So nobody would mind going back to that reality right? Companies would totally pay less in taxes than they do now, right? Oh, they fight that actually.
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"worth" can have two meanings in this context. $100 from 1917 can be worth exactly $100 today. Or it can be worth what you can buy with it. Some folks will see a $100 bill from the era and see an old $100 bill. Some folks will imagine what that $100 took to save back then, and what it bought. FWIW my brain automatically went with "the goods that can be bought with $100" - such as what I could buy in a grocery store t…
I don't understand how you mean. They say $100 back then, in what meaning is a $100 bill back then worth the same as having $3 today?
It's a bit of an odd comparison since you're using two different units for dollars to compare the basket vs purchasing dollar. The clearer way to say it is that today's $100 basket of goods is equivalent to $3.95 basket of goods of 1914.
https://ips-dc.org/report-state-of-insecurity-cost-militariz...
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Why “non-Jewish”?
Jews are culturally isolated enough to effectively count as their own race. Race is generally a misused concept because 99% of the time people actually mean culture, as anyone from any race can be part of a culture.
In my experience, you wouldn't know most Jews are Jews unless you start quizzing them about their religious practices.
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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) ad…
Why would anyone pay millions of dollars - that would be the equivalent to a billionaire's entire fortune - for a Tesla Model Y in 1901? You'd have nowhere to charge it. Electricity would be more expensive than gas even if you did. You'd benefit almost nothing from the technology. There's no internet. Not much of it would work. And it wouldn't really help move you forward technologically, as it's just too advanced.
Before the printing press, very few people in Europe owned even a single book. But even a lower class, modern European might easily own several dozen books. Depending on how you account for this, you might conclude that the given lower class, modern person is among the richest people in Europe in 1400. Or you might not properly account for the wealth of a 1400 European noble and rank them as middle class by modern standards.
It's simpler with commodities like a bushel of wheat, but still complicated. Depending on what you are trying to explain, you can use different methods but there is not straightforward way to convert the cost of something in one time period to another time period.
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We are assuming a resource curse on steroids, the ability to sell the ‘resource’ is used to distort the economy and pay for the cost of running an empire. The US chooses to do this because it is controlled by those who benefit from this not for the long term benefit of the country. Saying it’s not an advantage is to assume those in control want to have manufacturing in the US, while such noises are made there is very…
They very much want to have manufacturing, since it’s a requirement for war. They just don’t realize it. Plus, it is a conflict between all the extra money to spend and long term state welfare.
It seems both you and I agree that manufacturing is an essential component to war-fighting and the health of a nation, but I think it is safe to say that you and I have effectively no control over what the US does.
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https://knowyourmeme.com/memes/uno-reverse-card Trump attacked Iran thinking that this would somehow be good for the US, except it's weakening the petrodollar because it's pushed Iran to simply accept Yuan for oil.
One of the previous times the US attacked Iran, it was because Iran wanted to accept Euros for oil.
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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".
You can’t largely. At least not with offshore yuan. To do that you have to go through the controlled settlement channels to get onshore yuan. That’s tightly controlled to protect the peg. So no one is going to use a controlled currency for a hard liquid commodity. So if China wants petro yuan they have to liberalize that, which will break their peg. China could have more international trade in the yuan before all of…
- offshore yuan
- onshore yuan