“welp”
Benjamin Franklin smirked like that in his photo because he always knew.
Nah, he was thinking of ho-ors.
a) he was a ho-er
b) he slapped me and challenged me to a dual in New Jersey
w’hores
Hewers
I unlocked some sick alpha by exchanging those for drugs and then selling those drugs in smaller plastic bags
Down 50% already?
I’ve got a crisp $50 in my pocket. I’ll trade you for it.
That $50 is only worth $25 in goods or services.
I’m happy to pay you $25 for it!
Those $25 are only worth $12,50 in goods or services.
What’s with the comma? Don’t you know in usd it’s a . or decimal.
$12.50 in goods.
In europe it’s the opposite. We use the comma for this. So $100.000,45 is one hundred grand and 45 cents.
May I ask, how often are you paying with USD or a 100 dollar bill in Europe?
I know a guy
Meme aside, is this based on inflation? Some sort of global market?
If it’s inflation it’s not accurate. 100 2026 dollars is equivalent to 70 2013 dollars (not $50).
Just trying to fact check the math. I’m fun at parties.
I think if you include cost of living and cost of purchasing property, the US dollar is easily 50% less effective now than in 2013.
April 2013 one BTC was 90 dollars, so it’s actually down a lot more than 50%
Don’t remind me I once had hundreds of Bitcoin worth $300 total and sold because that was a huge profit lol
“Erm, buddy, you know that’s not how they actually make milkshakes” type energy bud
deleted by creator
You’re drinking 3/4 of a LITER of milkshake?
Not long ago, I found a $100 bill at our local gas station.
I picked it up by the trash can, figuring it was probably a church fake.
It wasn’t a fake at all, it was a real $100
I make point to check by those pumps everytime I pass by that gas station…
You should leave a note. “Did you lose $100 here? Please do it again. Ha ha!”
If you compare it with Gold - against which the USD moved in lockstep until the US left the Gold Standart - it’s a lot worse than just a 50% loss since 2013, more like a 65% of value.
The fall is probably the same in terms of real inflation (as actually felt by people in terms of how much less their money buys) - the official inflation figures understate inflation (probably because the mathematical calculation for GDP involves raw GDP being deflated by inflation, so the less the official inflation is the more politicians can harp about how much they made GDP “grow”) and this has been going on for decades, which is why a single blue collar salary that used to be enough for a good house, a car and the expenses for a family of 5 in the 60s, now can barelly pay the rent of small appartment in a major city.
More like the price of gold is artificially inflated far beyond any actual value.
which is why a single blue collar salary that used to be enough for a good house, a car and the expenses for a family of 5 in the 60s, now can barelly pay the rent of small appartment in a major city.
Except this isn’t remotely true. For American’s you had the 62% home ownership in 1960’s for much smaller homes (on average 700 sqft) vs 65% now for an average of 2000sqft. The average American family in 1960 owned 1 vehicle, they now own 2. They went on less vacations, moms typically had to work on top of taking care of the family (little to no daycare), oh and interest rates were much higher as well (on top of that pesky women couldn’t even own a home by themselves). Single person living was roughly 10% vs 30% now, oh and those hard working dads often didn’t live by a year past retirement. And if you were a minority? You absolutely were f’ed.
Yes, costs are higher now relative to income, but demands also are. Want cheap, you move out to rural areas, but risk you don’t have work. The same problem that has been endemic in the US since it’s inception.
62% home ownership in 1960’s for much smaller homes (on average 700 sqft) vs 65% now for an average of 2000sqft
62% -> 65% sounds reasonable.
700 sqft on average -> 2000 sqft on average is suspicious though. It’s possible stats got skewed by the top 1%, who are today richer than ever before, and own ridiculous amount of property. Median sqft perhaps would be more representative
Median square foot is close to the same. It’s cheaper to build larger than smaller in the US because of the space for expansion and developers aren’t being forced to pay for services needed when they expand suburban areas.
Yes, costs are higher now relative to income, but demands also are.
There is a dangerous underlying logic to this line of reasoning. Treating all technological innovation as an added cost to be borne by the end consumer leads to one inescapable dead end. Yes, sometimes there are actual costs. If so, fine. However, this blanket notion of hedonic price adjustment increases wealth inequality with no end. It isn’t a sensible and we should be thankful our ancestors were not so foolish or we’d all be living in trees or caves right now.
Or perhaps consumerism should lay off. Wealth doesn’t happen when people don’t buy things they don’t need.
whoosh
If you compare it with bitcoin it’s even worse. Both aren’t great comparisons, the US left the gold standard so long ago it’s not a meaningful comparison.
But that wouldn’t be a fair comparison. The prices of gold and dollars are stable. Bitcoin was invented in 2009 and is still in price discovery.
It’s almost like that’s my point.
Ah I thought you were implying bitcoin was stable my bad
Ah, aha, all good
deleted by creator
I seem to remember needing currency to buy goods and services needed to stay alive.
But you don’t need to hold on to it for decades.
The point of the post is that now the dollar has less value but the government didn’t do anything to ensure that you either get more dollars or the price of things don’t skyrocket every 6 months
That’s false on multiple levels.
For one, median real wages have been fairly stable and in fact have modestly increased in recent years, meaning wages did in fact increase alongside prices and you (or at least the median American) did “get more dollars.” This is no surprise - if there is inflation because money loses value, then the price of labour increases just as the price of goods and services does.
Secondly, the deliberate government policy is to aim for modest inflation of a few percent since the economic consensus is that this is beneficial for financial stability. So inflation is not a bug, it’s a feature. For the most part, monetary policy has been successful in achieving this goal in recent decades, aside from a brief inflation spike during Covid.
Finally, prices have not “skyrocketed” at all, not even during the Covid inflation spike, this is just hyperbole.
If you’re gonna lie try to make it believable dumbass
