He's not even the first to wear a wig to work.
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He's not even the first to wear a wig to work.
Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28
Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
Everyone is controlled opposition man...
I agree with the sentiment, but I'm not getting the math.Originally Posted by ClaytonB
- How did we get from $1,560 per year to $142,500 per year?
- In the phrase "That was worth 75 oz. of gold", what does the word "That" refer to?
I think the 1,560 wage equalled about 75 oz of gold back then (1914?). Those 75 oz were then multiplied by the current gold price, more/less? Google says 1560 in 1914 is worth 47k today, but gold price might be a better gauge of real inflation...
Bingo.
And, if anything, the price differential in gold underestimates the true losses. The CPI index tries to paper over the real cost of inflation by using "hedonics". So, they don't calculate the cost of a display today versus the price of a display 20 years ago. Rather, they first multiply a modern display by 8 on the basis that the modern display has 8 times as many pixels as a display 20 years ago had. Thus, the "true price" of displays has gone down "exponentially", even in dollars (per their absurd calculations).
But this same argument, when reversed, shows that inflation is much, much worse than even the gold price would indicate. The way to see this is to look at opportunity cost. OC is "all the things you could have done with your money, besides what you actually did with it". So, in 1920, the OC of buying a dress suit with an ounce of gold is all the other things you could have bought instead, such as a saddle or some furniture. But if you list all the things you could have bought instead of a dress suit in 1920, that list is exponentially smaller than that same list in 2024 for the simple reason that we just have so many more products on the market. Thus, the OC of spending an ounce of gold on a dress suit in 2024 is vastly higher than it was in 1920. This means that the money that the gold that is stolen from us today through inflation imposes vastly higher real cost than the same theft did in 1920.
The promise of the American dream in 1920 is that, soon enough, every man would be his own king. And they had good reasons for feeling so optimistic... the economy was almost completely unregulated compared to today, and it was growing like a weed. That dream was secretly assassinated in 1913 and the corpse finally hit the earth in 1971. We are now just choking to death on the necrotic fumes of the rotting corpse of what was once the United States of America...
Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28
I think they're using the $20/ounce pre-FDR price of gold... 1560/20=78. 75x$2000=$150k. They should have specified the year they're talking about. The dollar has easily lost 99% of its value since 1913.
Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28
Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28
I think we're saying the same thing.
Ford paid them $1560 per year. They could take $1560 and buy 75 oz of gold.
Today, Google is telling me an ounce of gold costs me $2717.
75 ounces at that price is $203,775.00 per year, so the meme is saying if you are an unskilled factory worker and you're not making $200K, you're getting robbed.
Last edited by Intrepid; 01-11-2025 at 09:40 PM.
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
6D Chess. And you never realized it.
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28
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