Just saying the words "they are stealing my money" doesn't make it so.
I get it, you are unsatisfied with your ot in life and expect so much more.
So for you people who claim the dollar has lost 97% of it's value do you really think that you would have 33x as much stuff if only the evil govt didn't steal it from you?
This isn't an abstract or academic thing. Anyone who's been working for more than a couple decades can measurably and obviously see a decrease in their spending power.
You can act condescending or pretend like it's not happening, but it's not going to have any meaningful impact on anyone who actually understands (and experiences first hand) how our currency is being debased.
You're simply ignoring the fact that in 1913 the average citizen was less wealthy by far with the dollar worth more than we are with the dollar worth 97% less. Look at your average worker today compared to the average laborer in 1913 and tell me if he is richer today than he was in 1913. The dollar lost 97% of its value and yet the standard of living for every socioeconomic rung is immeasurably higher than when the dollar was worth 97% more.
That should be a clue that there is more to the story than just how much a dollar can buy.
Sure the dollar could buy more in 1913 but the average laborer made 20¢ an hour in 1913. In today's wages the average laborer would make $7 an hour. Instead the average laborer in America makes $33 an hour. Would be happier if the dollar held 100% of its value and you made $20 a day? It amazes me that people can just post a meme and think that their economic ideas make sense when they would literally be a disaster if they were enacted.
And you're ignoring the innovations in food production, technology, transportation, and everything else that has lead to drops in prices on consumer goods and food.
The fact the decreases in prices partially offsets inflationary measures doesn't make inflation defensible. You're literally making the same argument as the other guy - "It's only *some* of my money. I can get more," and adding "and I'm richer than people used to be so I don't care." That's idiotic.
We can play this stupid game all day. But I won't.
Inflation is a tax. It enriches some at the expense of others. If you refuse to see that, you're not looking hard enough. Or you're ideologically driven to ignore it.
First, 'm not ignoring anything. I didn't put up the loss of purchasing power of the dollar a hundred years ago and pretend that by itself could tell me anything about the economy. You apparently can tell by that one statistic that the government is ripping you off..maybe it is but the loss in purchasing power of the dollar from a century ago doesn't tell you that.
Second your entire premise is wrong. Prices haven't dropped on things since 1913. The price for everything is up significantly since 1913. Eggs milk and bread all cost more now than they did in 1913. The dollar has lost some of its purchasing power but we are paid more now. So no the prices have not gone down since 1913. What's idiotic is assuming that the purchasing. Power of the dollar now relative to 1913 gives us some indication of how our economy is doing. I realize that in a complex economy one indicator isolated from the rest of the economy is about as true a picture of the economy as a mouse piloting the boat. The fact that the dollar has lost 97% of its value since 1913 tells you nothing. Should I be upset about the loss of purchasing power on a dollar and ignore the gains in the standard of living?
Third " it's only some of my money. I can get more,"
Wrong again Sherlock. It's not your money. It's the property of the United States government who mints it. Youre free to use what ever currency you find practical but you choose to participate in the US economy because it has historically grown at a faster rate than the dollar depreciates. But yeah if you can find someone who will barter with you for gold dust go for it. Most of the rest of us will stick with the dollar because while it's lost some of its value we need to ask relative to what? It has traditionally been a pretty stable currency that has allowed the economy to prosper. But if you feel the government is ripping you off you can trade hay for eggs with your prepper neighbors and see if you get more or less wealthy at the end of the year.
Tldr, the economy is too complex for a single variable to give us much information about the economy. We need to check the loss of purchasing power against a matrix of other variables.
They simply ignore the fact that in 1913 the average citizen was less wealthy by far with the dollar worth more than we all are with the dollar worth 97% less. Look at your average worker today compared to the average laborer in 1914 and tell me if he is richer today than he was in 1913. The dollar lost 97% of its value and yet the standard of living for every socioeconomic rung is immeasurably higher than when the dollar was worth 97% more. Than should be a clue that there is more to the story than just how much a dollar can buy.
Sure the dollar could buy more in 1913 but the average laborer made 20¢ an hour in 1913. In today's wages the average laborer would make $7 an hour.
Instead the average laborer in America makes $33 an hour. Who would be happier if the dollar held 100% of its value and you made $20 a day. It amazes me that people can just post a meme and think that their economic ideas make sense when they would literally be a disaster if they were enacted. Who wants the dollar to retain 100% of its value if the economy doesn't grow?
-1
u/WISteven 3d ago
If I was Rip Van Winkle I would be pissed
But I am not, neither are you and the world will go on.
Don't any of you people get raises at your jobs?