• @[email protected]
    link
    fedilink
    148 months ago

    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.

    • @aubeynarf
      link
      33
      edit-2
      8 months ago

      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.

      • @[email protected]
        link
        fedilink
        English
        48 months ago

        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.

        • @[email protected]
          link
          fedilink
          38 months ago

          They don’t invest it or spend it on things like luxuries though, and that’s how the health of an economy is measured.

        • @aubeynarf
          link
          18 months ago

          The average person saving money for the future should have it in a Vanguard S&P 500 fund, not in cash.

    • @[email protected]
      link
      fedilink
      English
      78 months ago

      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.

      • @[email protected]
        link
        fedilink
        68 months ago

        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.

        • @[email protected]
          link
          fedilink
          English
          48 months ago

          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.

          • @[email protected]
            link
            fedilink
            38 months ago

            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.

      • @[email protected]
        link
        fedilink
        28 months ago

        $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.

    • gila
      link
      fedilink
      English
      3
      edit-2
      8 months ago

      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.

          • @[email protected]
            link
            fedilink
            78 months ago

            You’re an absolute idiot. You think the cost of eggs went up 10bagillion dollars and they make sense to you? Fuck off. Biden want even in office when the groundwork got laid, shithead. Good luck arguing that one.

            For anyone wondering what the original comment that just_another_person was embarrassed for having had made.