BiInflation killing America

[AlterErgo]

Thanksgiving Ruined By Turkey Prices, Now ‘Meatflation’ Threatens Christmas

Producer Prices At Record Pace

White House Can’t Cite Anything Biden Doing To Cut Gas Prices

FED: Consumer Inflation Expectations Reach New High

No Laughing Matter As Home Heating Prices Set To Surge 30%

 

[Brains_N_Boobs]

https://d306kf50knzv2r.cloudfront.net/wp-content/uploads/2020/04/09083331/Shopper-Train.jpg

 

[BidudeinWi]

Thanksgiving Ruined By Turkey Prices, Now ‘Meatflation’ Threatens Christmas

Producer Prices At Record Pace

White House Can’t Cite Anything Biden Doing To Cut Gas Prices

FED: Consumer Inflation Expectations Reach New High

No Laughing Matter As Home Heating Prices Set To Surge 30%

We’re on the same page but “Turkey” is overrated. If not for all the stuff that is added to dinner, cranberries, stuffing, gravy, etc., that bland, boring food isn’t worth eating. Much rather eat beef! Plus, cows fart and piss off AOC so there’s that!

 

[Champakian]

YOU'RE LYING!!!



The only people talking about inflation are the lying right-wing rags of disinformation!

Prices always rise! This is just normal prices rising!

Mainly because corporations are greedy!



Now, if you get out of your mom's basement and get to the store,
you will find that Soylent Turkey-fu is very reasonably priced
and available by the can and it's boneless.

Better for the environment. It won't
end up in the landfill...

 

[JohnnySavage]

Bidinflation is better than BInflation.

 

[LittleDixie]

Bidinflation is better than BInflation.

When the government runs out the value of the US Dollar, can we go back to silver and gold and cut the government off from being able to produce money? They took us off the gold standard and then proceeded to flush the value of our currency down the toilet. Their target was 2-3% inflation every year, meaning that they wanted the value of our currency to drop at a steady pace. These people have a spending addiction and cannot be trusted.

https://external-content.duckduckgo.com/iu/?u=http%3A%2F%2Fmedia.peakprosperity.com%2Fimages%2Fchs-dollar-triffin1.jpg&f=1&nofb=1

 

[JohnnySavage]

Stop stretching my screen.

 

[JohnnySavage]

And moving my screen to see what the words were - people that clamor for a gold standard are misguided. Gold has no more intrinsic value than paper money, sea shells or shiny baubles. All money is only worth what other people say it's worth.

 

[Champakian]

Now you know why I truncate the length of my posts.
I really hate the back and forth crap when reading a post.

It also leads my to dislike the screen-stretchers, but hey,
to save time and effort, I've done that once or twice myself.

 

[JohnnySavage]

Thank you.

Now do a chart of average income for that same period.

The economy grows as population grows. It has nothing to do with gold. Goldnicks value gold in... wait for it.... Dollars!!!! That's like saying the bible is true because it says so in the bible.

 

[Champakian]

There is also that terminal point where governments print enough money
that people will revert to gold and other tangible assets because they know
that they cannot spend the government's paper money faster than it loses
its intrinsic value as a medium of exchange.

 

[JohnnySavage]

The root of all money is the underlying resource it can be traded for. The United States has been blessed (if you believe in such things) by geography and geology. We have vast natural resources and the ability to produce food and other things with intrinsic value. We also have a neighbor to the North with similar assets that we haven't yet begun to exploit. In a global community, the US is sitting fat and the medium of exchange doesn't affect that.

 

[Champakian]

Just as soon as that GlowBall Warning sets in, we'll be invading the north!




Right now, it's just too fawkin' cold...

 

[LittleDixie]

And moving my screen to see what the words were - people that clamor for a gold standard are misguided. Gold has no more intrinsic value than paper money, sea shells or shiny baubles. All money is only worth what other people say it's worth.

The reason why gold retains it's value and why printed fiat currencies do not is because you cannot print new gold.

Imagine a manuscript that was signed by Issac Newton. The only one of it's kind in the world. Here is a piece of history, written by a man that nearly everyone knows, and it was held and signed by him. This would be priceless. But, suppose, that a year later, a chest was found containing 100 identical manuscripts, all signed by Issac Newton. Suppose that a 100 chests just like it were found. As the scarcity of a thing diminishes, it's relative value falls alongside it. If we unearthed trillions of signed Isaac Newton manuscripts, they would essentially be worthless.

Governments are constantly creating new money, so they are increasingly common and thus decreasingly valuable.

Not so with gold. If you look at a chart that maps the value of gold versus the value of the dollar, you will see that as the value of the dollar falls, the value of gold rises.

https://www.valuewalk.com/2018/05/the-us-dollar-versus-gold/

Gold is more or less stable while fiat dollars are on a rollercoaster to oblivion.

 

[JohnnySavage]

Nonsense.

Your manuscript is worth nothing to me. I'd rather have $10. Gold is only worth what people perceive it's value to be. It has nothing to do with a limited quantity. If rarity were the measure of value, there are other elements far less common than gold.

 

[LittleDixie]

The root of all money is the underlying resource it can be traded for.

Yes. In 1818 you could buy a pound of bacon for $0.16. Now, a pound of bacon is closer to $6.00.

So, the root of the US Dollar has fallen considerably.

 

[JohnnySavage]

You keep valuing things in Dollars! THAT'S my point. You could also value them in sea shells.

 

[JohnnySavage]

Furthermore - assume the average wage in 1818 was 16 cents an hour (just an example). It took you an hour to earn your bacon. The average wage now is 16 dollars an hour. It takes you half an hour to earn the bacon.

 

[Champakian]

Nonsense.

Your manuscript is worth nothing to me. I'd rather have $10. Gold is only worth what people perceive it's value to be. It has nothing to do with a limited quantity. If rarity were the measure of value, there are other elements far less common than gold.

Yes, but nowhere near as useful from jewelry to industry.
That's why gold is valuable and zinc is a junk mining byproduct.

 

[Champakian]

Furthermore - assume the average wage in 1818 was 16 cents an hour (just an example). It took you an hour to earn your bacon. The average wage now is 16 dollars an hour. It takes you half an hour to earn the bacon.

Where the fuck are you buying your bacon?

 

[ll74]

The value of a job not changing doesn't mean that the wage of the job doesn't change.

Unless somehow it still costs the same for what you use the money on.

 

[JohnnySavage]

Then we should be arguing for a Platinum Standard.

 

[JohnnySavage]

I don't eat bacon (too fatty), I was using the example given.

 

[Champakian]

Any standard will do if it fixes the value of the dollar on
anything other than political expediency...


We currently have no standard and thus pay the price.

 

[Champakian]

Next time, use an example where you know the true prices.