About bob2356

bob2356


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In United States
Registered Apr 12, 2008

bob2356's most recent comments:

  • On 16 Sep 2014 in Stop predicting the dollar will collapse, bob2356 said:

    indigenous says

    bob2356 says

    Your chart says that today's dollar has 1/20th the purchasing power of a 1776 dollar. That would mean that a carpenter or school teacher for example could purchase 20 times more food or clothes for one days work in 1776 than in 2013. Go ahead, prove that to be true. I'll be waiting, and waiting, and waiting.

    Just look at how little can be purchased today than in 1971 let alone 1776.

    An inflation calculator says that the dollar today would buy 17 cents worth of stuff then.

    Amazing. That would be back when mininum wage was something like 1.50 an hour, pretty close to 17% of todays minimum wage. Back when my mother was working as a teacher for $6900 a year somewhere around 17% of todays teachers salaries? Seeing a pattern here? Let's try this in simple terms. You could buy 5 times as much stuff but you only made 1/5 the money. Graph that.

    You really don't grasp the concept of money at all do you?

    Still waiting for an example of an average worker buying 20 times as much food and clothing for an hours work in 1776. and waiting, and waiting, and waiting.

  • On 16 Sep 2014 in Why The Collapse Of Abenomics Is Important: It's A Large-Scale Failure Of Keyne, bob2356 said:

    mell says

    Either way, Keynesianism is totally impracticable these days which you can see by the crony-capitalist structure it has created in the US.

    It was always totally impractical in the real world. That's why no one has ever actually done it. Not once, never. To call deficit spending keynesianism is ridiculous. The austrian school is just as impractical in any kind of real world situation. Economics is just astrology with a phd.

  • On 16 Sep 2014 in Stop predicting the dollar will collapse, bob2356 said:

    indigenous says

    splain this graph:

    No need to splain the chart, the chart is meaningless. Obviously you (or the professor) don't understand the concept that money is simply a means of trading labor for goods. The only metric that matters is how much goods you can purchase per unit of work. The numbers printed on the money mean nothing.

    Your chart says that today's dollar has 1/20th the purchasing power of a 1776 dollar. That would mean that a carpenter or school teacher for example could purchase 20 times more food or clothes for one days work in 1776 than in 2013. Go ahead, prove that to be true. I'll be waiting, and waiting, and waiting.

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