Lets health insurance cost $3k in 1981, are you claiming it costs $100k today?
Has the debt economy reached its limit? Solutions?
- Thread starter Joh17
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Lets health insurance cost $3k in 1981, are you claiming it costs $100k today?
The top 10% are fleeing the US in droves. It's not inflation they're afraid of, it's the upcoming revolt.
Without money, our economy would be a tribal economy, basically small level socialism. We would have to break into groups of 200 or less, or live in totalitarian states worse than North Korea.
Truck Fump / h1b
Verified User
no we wouldn't. and we would lose the parasite class. it's the best idea.
Truck Fump / h1b
Verified User
In 2020, 6,705 Americans renounced their citizenship. That is that is a huge jump from 2019, when only 2,577 Americans renounced their citizenship. Many of those are not in the top 10%, but lets say they all are. The top 10% are about 33 million people, so this is not a "drove", or even a "trickle".
As long as you are an American citizen, the government will tax you, where ever you live. So anyone in the top 10% who wants to avoid taxes needs to renounce their citizenship.
But, the big reason to renounce citizenship is to secure another citizenship. Many countries do not allow duel citizenship among adults. So many people who have dual citizenship, but feel more attached to another country, will renounce their American citizenship to get the full benefits of their other citizenship. During the pandemic, this was really hammered home. These people are generally not among our richest.
So a poor Mexican farmer, who wants to inherit the farm from his father, and was by coincidence born in the USA, would renounce his American citizenship to be allowed to inherit the farm.
You seem to define anyone who is not a subsidence farmer, or a hunter/gatherer as the parasite class.
Truck Fump / h1b
Verified User
no just people who lie about human history and believe fiat currency is the only way.
Currency is the only way to have a modern economy. The only modern example of getting rid of currency, is the Cambodian self-genocide, where about a third of the people died.
Could we have non-fiat currency? The problem with non-fiat currency is you usually end up at the fluctuations of a tiny part of the economy for the money supply. If gold mining goes up, suddenly we are awash in new money. If gold mining goes down, suddenly we are short of money supply. Worse yet, inflation is more dependent on the velocity of money, and gold has a bad habit of becoming sticky in bad times. We would expect rapid deflation during any economic trauma, that would in turn cause more economic trauma.
But I do think a semi-modern economy would be possible with a gold based, or silver based currency. We just need some currency, or we cannot have anything like a modern economy.
You're using government numbers again. For real cost of living you have to take the percent of premiums from income. The working class don't make enough to afford healthcare because the premium today would be 75% of their income. Now compare that to what percent of their income the poor pay for healthcare in 1981. It had to be close to zero.
I am using math, and your numbers. If the price as increased about 31 fold, then something that cost $3k, would now cost close to $100k. That starts sounding silly.
The $3k is a government number. I could buy a car for $3k in 1981.
$3k is a hypothetical number.
So you say you could buy a car for $3k in 1981. OK, if car prices had gone up by 31 fold, you would need to pay about $100k to buy a car. You can certainly pay $100k to buy a car, but a reasonable price for a new car is much lower. We are not forced to buy $100k cars.
So we know that car prices have not gone up by 31 fold. The next question is does that sound reasonable to you that healthcare prices have gone up by 31 fold?
Working class people used to be in unions, that would make sure they had health coverage. That is no longer the truth. Republicans told us that would allow the worthy people to soar, while the rest would be stuck with their fate. I don't know if the wealthy are the "worthy people", but it sure has allowed to wealthier people to soar.
Government is hiding real inflation caused by our debt economy that is quickly approaching negative interest rates, which is a sure sign of a system in default. I'm betting Powell raises interest rates in the attempt to prevent a surge in inflation. We'll know what Powell does before the 2022 election, so stick around.
Low interest rates are not a sure sign of default. That would be high interest rates that are a sure sign of default. If you are getting a low interest rate, you are not being charged much for a risk of default. Interest rates are a sum of the cost of money over time, the risk of inflation, and the risk of default. For interest rates to be this low, there must not be much risk of inflation or default.
The Fed only has control over the interest on borrowing from the government. It can do little to raise overall interest rates in an economy with so much capital seeking some return. This is a global problem with some European countries issuing bonds with actual negative rates. Of course money is fleeing to America.
Truck Fump / h1b
Verified User
you're hilarious.
the oligarchs are destroying the dollar, and buying hard assets. while the chumps are trusting them because they wear suits and speak in serious tones.
the gig is over.
Wouldn't there be obvious evidence if the dollar was being destroyed? Like empty stores, or extremely rising prices?
