INFLATION

Discussion in 'West Mall' started by Chop, Nov 30, 2021.

  1. Chop

    Chop 10,000+ Posts

    Not that we've ever seen any of those on Hornfans.com ...
     
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  2. nashhorn

    nashhorn 5,000+ Posts

    All this while Biden throws a celebratory party. Can’t make this up - but do his and his party supporters care.
     
  3. Sangre Naranjada

    Sangre Naranjada 10,000+ Posts

    Is it really very low? There are many different ways the government can report employment to try to make themselves look less incompetent than the plain truth implies.
     
  4. Monahorns

    Monahorns 5,000+ Posts

    Because they are thieves and fiat allows them to spend any amount of money they want on whatever they want.
     
  5. Monahorns

    Monahorns 5,000+ Posts

    If you only look at it that way. But then you ignore many other things about the situation. First, devaluation steals from people. Second, what you say is correct IF THEY WOULD EVER STOP. But they will never stop, so the relative price is always changing and wage rates always lag and usually never compensate for the inflation. Third, it allows the government to do basically whatever they want. Why do you think we are having all these problems with the government these days? Because they have no accountability on spending. If anyone is a true conservative they will be for sound, stable money like the gold standard.
     
  6. mchammer

    mchammer 10,000+ Posts

    They are paying dishwashers $17.50 an hour.
     
  7. mchammer

    mchammer 10,000+ Posts

    That is catastrophism. Regardless the solution is better Fed governors, not gold standard.
     
  8. mchammer

    mchammer 10,000+ Posts

    Simpler to nominate better governors.
     
  9. Monahorns

    Monahorns 5,000+ Posts

    OMG. We are living in a real catastrophe right now and have since we left the gold standard. "Better Fed governors", now that's funny. You should invest you money in a unicorn farm. I promise it will make you lots of money.

    And to better answer your first question, Nixon ended the gold standard because he had so devalued the dollar and countries around the world were buying our gold reserves up. He did it to preserve some gold in US vaults. Others did the same as they devalued their currencies.

    Gold standards were useful to retain currency value. If you look at value of $s it is clear what happened.
     
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  10. Monahorns

    Monahorns 5,000+ Posts

    [​IMG]
     
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  11. AC

    AC 2,500+ Posts

  12. AC

    AC 2,500+ Posts

    New currency backed by Gold, with Bitcoin for cross border settlements. Trump and all the BRICS nations are working on making this a reality. Don’t ask me any questions, I’m just reporting what I know. Now if you want to ask about buying and storing Bitcoin. I’ll answer you quickly!
     
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  13. mchammer

    mchammer 10,000+ Posts

    And what has happened to income? You are absolutely an absolutist.
     
  14. mchammer

    mchammer 10,000+ Posts

    You conveniently ignored that the Great Depression occurred under the gold standard.
     
  15. Monahorns

    Monahorns 5,000+ Posts

    Hey! No name calling. I am radical for justice. Being a moderate for what is good is no virtue.

    [​IMG]

    [​IMG]
     
  16. Monahorns

    Monahorns 5,000+ Posts

    No I didn't. I just didn't mention it because it wasn't relevant to our immediate discussion. Non sequitur.

    I do understand that the Great Depression did occur under the Federal Reserve. It did occur because of a money supply increase in the late 20s. It wouldn't even have been that bad if it wasn't for the New Deal and the socialism it unleashed on the US including continued central banking manipulation.
     
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  17. mchammer

    mchammer 10,000+ Posts

    Nice try. That point coincides with women entering the workforce. Twice the labor cost for the same productivity.
     
    Last edited: Sep 15, 2022
  18. mchammer

    mchammer 10,000+ Posts

    This is also the point that services started to take over the economy and manufacturing started moving overseas - first to Japan and later to China. Did you really think productivity in the economy due to IT advances was really going to go to the average worker or even to software developers?
     
    Last edited: Sep 15, 2022
  19. mchammer

    mchammer 10,000+ Posts

    You’re naive as well.
     
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  20. mchammer

    mchammer 10,000+ Posts

    This graph only shows monetary compensation and not the full cost of benefits. Healthcare has gotten a wee bit more expensive since 1972.
     
  21. Monahorns

    Monahorns 5,000+ Posts

    Another non sequitur. Women's pay isn't that different from men's. Plus it dishonest to assume that women went into jobs that had the same productivity as men. For you to say what you did you either had to think women are being paid peanuts though being highly productive, which has bene proven untrue, or you believe that productivity was evenly distributed across all industries which is unreasonable.

    Or you assume the productivity metric is per household when it is per individual worker which is a very obvious mistake.

    Plus it was the devaluing of the money that necessitated wives and mothers to work in order to make ends meet.

    [​IMG]
     
  22. Monahorns

    Monahorns 5,000+ Posts

    Dion!!
     
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  23. Monahorns

    Monahorns 5,000+ Posts

    Medical costs are another problem caused by the central planning of the government.

    But your reading comprehension is very poor. Read the note at the bottom of the graph: wages AND benefits.
     
  24. mchammer

    mchammer 10,000+ Posts

    Okay. Your opinions are naive and your positions absolutist.
     
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  25. mchammer

    mchammer 10,000+ Posts

    You are making this too complicated and assuming too many routes to the rabbit hole. Labor costs basically doubled with basically no increase in goods-related gdp. The increase in gdp is basically due to services that don’t really pay workers.
     
    Last edited: Sep 15, 2022
  26. mchammer

    mchammer 10,000+ Posts

    The title of the second graph says wages. I do note there is a growing gap in the compensation line between the top and bottom graphs that likely is the result of higher benefits being paid.

    Regardless, the top graph comparing productivity vs wages is a non-sequitor in of itself. Why do you assume that a worker of services had anything to do with productivity gains? Clearly workers are simply following IT systems developed and implemented from afar. SAP is German. Why should US workers benefit from productivity gains if it was the result of a German company?
     
    Last edited: Sep 15, 2022
  27. mchammer

    mchammer 10,000+ Posts

    Uh, how can these graphs show women’s income to substantially increase, and men’s income to be flat, but the other graphs show median wages to be flat for everyone?
     
    Last edited: Sep 15, 2022
  28. mb227

    mb227 de Plorable

    Add in CEO pay in the DEI environment and then remember mean, median, and mode lessons...it makes more sense that way.
     
  29. Monahorns

    Monahorns 5,000+ Posts

    Labor costs didn't double on a per unit basis. The graph shows productivity per worker. Productivity isn't just for goods. It includes services.
     
  30. Monahorns

    Monahorns 5,000+ Posts

    Yeah. Read the note that clarifies. It includes benefits.

    Workers benefit from productivity gains because they are able to produce more good or service for the company. That is basic economics. I don't assume anything productivity isn't just for physical goods. It is a measure of how much value a worker brings to a company regardless of what the product is.
     

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