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Trump advisers are plotting to deliberately devalue the dollar if he’s re-elected, report says
(www.independent.co.uk)
this post was submitted on 16 Apr 2024
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The dollar has lost ~17% of its value in the past 4 years and ~95% of its value since 1924, so par for the course of the orange man wants to keep going.
If you held US stocks instead of dollars in that time, you would have returned 114,629% , beating inflation (dollar devaluation) by about 7.5% per year.
Part of the point of a deflationary fiscal policy is to increase the velocity of money and get it working for economic growth and innovation, versus being stuffed in a mattress for 100 years.
Even with a slightly deflationary currency, people still need to pay their mortgage, electricity bill, buy groceries, etc. So it's not like money won't move at all. Because something tells me that people don't want to sleep in boxes and would like to be able to eat.
They don't invest it or spend it on things like luxuries though, and that's how the health of an economy is measured.
Yeah, fuck the average person saving money for the future.
The average person saving money for the future should have it in a Vanguard S&P 500 fund, not in cash.
Take your dollars and buy gold.
The past 4 years involved the pandemic. How is that a gauge for anything?
And how much were people paid on average in 1924?
$2,196, or $40,110 accounting for inflation. Today the Average American makes $59,384 or $3,251.24 in 1924. A house cost 3.6 times anual income($7,720), a house today costs 5.96-7 times anual income($354-179-417,700). The cost of food is 3202% higher in 2024 vs 1924.
Keep in mind that the in 1920s only about 1% of homes had indoor plumbing and electric. If they had an indoor bathroom, there was usually only one on the ground floor with no hot water heater. They did not have heat or air conditioning systems. They were warmed by fireplaces and cooled by opening windows. They also had single pane windows and far less insulation. There were no indoor washers and dryers nor refrigerators included. It makes perfect sense that it costs less for far fewer features.
There is a similar quality difference in the food. A lot of it was canned or preserved. Most of it was produced locally, so many foods were only reasonably available. The only strawberries you were eating in January were the ones you jellied and jarred yourself. On average 44 hours a week were spent on food preparation and cleanup. We pay extra for convenience, quality, and availability.
This is wrong. By looking at a single datapoint of total printed dollars, you're measuring USD's value relative to older USD only. This would only make sense if the value for things you would trade USD for are static. Relative to other reserve currencies, assets, goods, services, USD is significantly more valuable today than it was 4 years ago. Not to mention the proportion of printed dollars no longer circulating.
Exactly. Which is why people who want to maintain their wealth by homes and stocks and gold, etc. Because the dollar is purposely losing value. And that's a dumb thing to save in. But most people do not understand this.
What is it about this comment that the downvoters disagree with? Is it people who don't realise that fiat is inherently inflationary? I can't even come up with a guess as to what kind of mind reads this and is able to both understand it and decide it is something that needs downvoted. Please, someone explain, I feel like I've lost touch with the world people are living in.
Me too. I hold money I wish to save in other currencies such as gold and silver and Monero and let the dollar just devalue. I keep only as many dollars as I absolutely need for in-emergency around and no more.
Exactly, put your value into cash if you are in a situation where you need to do that in order to use it. Holding value as cash is like holding tobacco as smoke.
Do you smell toast?
Are you easily led by charisma?
Pathetic.
For anyone wondering what the original comment that just_another_person was embarrassed for having had made.
It's an obvious facetious statement since "bagillion" is not a real measurement of currency. Are you and your fake accounts out on patrol tonight, or just some other fucking morons?
Says the dipshit that deleted his comment lol. You're a terrible troll, you can do better.