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Thread: The Truth About the Economy
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06-23-2011 #31
Re: The Truth About the Economy
Anybody who thinks wages cause inflation is full of shit. It's a spiral, & wages always lag. Since it hasn't stopped in 40 years, the gap just keeps getting wider. You can date the current spiral to August 15, 1971. If you don't look back to that point, you're missing the point. This isn't natural. Compared to the day before the shock, the dollar now buys about 8 cents worth. For wages to keep up with that, the average trade would be paying from $45 to $50 an hour right now. You can't get an accurate picture by looking back a decade or 2.
Last edited by hippifried; 06-23-2011 at 11:02 PM.
"You can pick your friends & you can pick your nose, but you can't wipe your friends off on your saddle."
~ Kinky Friedman ~
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06-23-2011 #32
Re: The Truth About the Economy
Very well put across Bluegrass, Faldur take note, I thought you would of got it by now with my references to the super rich and how you can skew figures, its a case of the minority rich are doing very nicely with the majority of the wealth, whilst the majority workers are doing quite badly with the a minority share of the wealth.
The gap is widening at an alarming rate, with people having to put in more man hours on less pay and being as the rich control the system they have major infuence and vested interests in keeping it so, hopefully now you will understand, figures are nothing if they don't show the physical reality, yours clearly do not, whereas Bluegrasses show more of a true representation of the picture its not a dig its a case of look at things carefully, make sure the theoritical ties to the reality of the situation.............
Last edited by joeninety; 06-23-2011 at 11:14 PM.
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06-23-2011 #33
Re: The Truth About the Economy
SSI cost of living adjustments periods of 1997 - 2008, (totaling 27.9%)
SSI COLA
National average wage indexing series from SSI site, (40% increase, 12.1% increase even using SSI statistics. Thats 1.21 percent above the rate of inflation, still can not be considered "barely increased".
National average wage indexing series, 1951-2009
Last edited by Faldur; 06-23-2011 at 11:24 PM.
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06-23-2011 #34
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06-23-2011 #35
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06-24-2011 #36
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06-24-2011 #37
Re: The Truth About the Economy
Since the Reagan administration; the Republican position has been that if wages stay down, it can be claimed that inflation rates are low because half the equasion isn't moving. Supply side theory can't work unless you buy into the idea that money is a finite commodity that can be traded on the market.
Personally, I'm thinking that Adam Smith was every bit as big a crackpot as Karl Marx, & all this shit needs a total rethink. There's no limit to the money supply. Ergo, all this nonsense about inflation is just that, & you'll never know "the truth about the economy" unless you toss out all the lame theories & stop paying attention to the professional liars.
"You can pick your friends & you can pick your nose, but you can't wipe your friends off on your saddle."
~ Kinky Friedman ~
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06-24-2011 #38
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06-25-2011 #39
Re: The Truth About the Economy
It's pretty self explanitory. Money's not a commodity. It's just numbers in a ledger. It's how we keep track of real trades of goods & services, & the differences in valuations. There's no limit to the supply because it's not tangible in the first place, & it's created by debt. There's no supply & demand pressures on money itself. It's all bullshit & the currency exchange is a fraud. This current inflation spiral is artificial, & coincides with the demise of Bretton Woods by the Nixon shock. Speculative slight of hand has been devaluing money for the last 40 years. It's all short selling because the only way to make profit on the FOREX is by betting on the rate of decline.
"You can pick your friends & you can pick your nose, but you can't wipe your friends off on your saddle."
~ Kinky Friedman ~
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06-25-2011 #40
Re: The Truth About the Economy
I know it's not a commodity, but it is a standard of valuation, and while I realize some of the issues with pegging it to any one thing (such as gold), it seems to me that it is not quite limitless, otherwise it really couldn't accurately reflect value. Tbh, I'm not sure that was your point anyway, and this isn't an area I'm entirely clear about, but the earlier statement struck me as strange (hence the request).
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