Comments on: There are still only 24 hours in a day

By: TRX

TRX — Sun, 02 Jul 2023 22:28:13 +0000

I look at where I stood financially forty years ago vs. now… I’ve slipped a long way down from then. Just keeping up with the bills is about it, now. We haven’t done the “vacation” thing since the 20th century due to lack of funds.

We’re making “more” money than 1983, but inflation means prices have gone up so much we’re way behind what our real purchasing power was back then.

By: Bob Sykes

Bob Sykes — Sun, 02 Jul 2023 11:39:34 +0000

The real incomes of the working class has declined substantially, and middle class earnings have stagnated. The rich have captured all the growth in GDP, and they have even clawed away income from the workers.

The flood of cheap immigrant labor continues unabated. The war on unions has been a complete success. California radicals even cancelled Caesar Chavez (RIP), because he knew his members were impoverished by illegal immigration.

By: Natureboi

Natureboi — Sat, 01 Jul 2023 02:44:15 +0000

Real GDP is a make believe number. It does not measure anything material.

The vast majority of Americans have become significantly poorer. This is obvious because 60 years ago almost no family had more than one parent working outside the home. Now that almost every family household is dual income, everyone should have a lifestyle reflecting they are twice as rich. That’s obviously not the case.

Tabarock and his economist fags have always been retarded.

By: Jim

Jim — Fri, 30 Jun 2023 18:58:40 +0000

All what increased wealth? The economy mostly stopped growing after the inimitable Mr. Nixon was overthrown. Titanic chunks were literally disassembled, put on ships, and sailed to China et al. What is left today floats uneasily upon a frothy-cum-roiling pea-soup-green sea of fictitious dollars, created out of nothing by commercial banks' purchase of mortgage notes, and the everywhere-felt-but-not-seen lovecraftian submarine horror-world of securitization and speculation thereupon. Alex Tabarrok will never address money-creation, confront the Uniform Commercial Code, or touch the diminution of labor against capital, scored in real-time by the stock market, because he is a career professional court prophet for his daily bread utterly dependent on the sovereign's continuing favor.