[Mel] > Economy is indeed looked at in terms of growth and with a growing > population that can be just a measure of standing still, depending on > the number. If you look at the numbers in the economy and use > dollars adjusted to 1967 base numbers, you'll see that a lot of the > growth > is an illusion that covers up the long term effect of inflation. > In real value, base '67, I made more money in my minimum wage > job as a kid than the teens today make. Standard of living for many > has actually fallen in those terms. Economic growth is not unfettered, > but rather it is dependent. (Oh, the current dollar is worth 15-cents > of the 1967 dollar, maybe less by this time.) > > We look at Bill Gates and say wow he's the richest American ever. > No. He's actually 13th richest, value adjusted. In today's dollar > John D Rockefeler would be worth $305 Billion. Six or eight times > Gates' wealth.
Excellent, Mel. Inflation (caused by government printing money unbacked by silver or gold) is a hidden tax used to pay for programs considered by government to be for the "public good." In the U.S., the currency was partially released from the gold standard by Roosevelt in the 30's, then completely released by Nixon in 1971. You have well documented the insidious effects of this legalized robbery of the general public. Another effect is that up until the mid-50's in America, a working husband with a wife at home raising kids produced a decent standard of living (and decent kids). Now, it takes two parents working to provide the same standard of living and the kids -- well, check high school and college drop out rates. Platt Moq_Discuss mailing list Listinfo, Unsubscribing etc. http://lists.moqtalk.org/listinfo.cgi/moq_discuss-moqtalk.org Archives: http://lists.moqtalk.org/pipermail/moq_discuss-moqtalk.org/ http://moq.org.uk/pipermail/moq_discuss_archive/
