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As long as people still see value in the United States Dollar, it will not lose value. Are we paying $20 for a gallon of milk, $1mil for a Chevy Malibu, $5 for a pack of gum, $100 for a six pack of beer? I think not.....
its been constantly losing value...every year
1970 a mid size chevy was 3k....today a mid size chevy is 30k+
in 1970 an average house here on long island was about 20k....by 1995 it was 150k...today 400k
It's too soon for basic income -- but the day will come when it will happen. And it will be the top wealthy class that will ask the government to implement it.
Once robotics and automation hit critical mass, we will be able to produce a tremendous amount of goods without labor. Without labor, there are no jobs; people without jobs have no money and can't buy the products the wealthy produce. Sales and profits for the wealthy class dry up. At that moment, the wealthy will realize that the working class will need basic income so they can buy stuff again.
I think basic income will be great -- most people won't sit on the couch and do nothing. People will be able to go to school, learn a new trade, do freelance jobs on the side, start a business. Freedom and life enjoyment will increase.
It's too soon for basic income -- but the day will come when it will happen. And it will be the top wealthy class that will ask the government to implement it.
Once robotics and automation hit critical mass, we will be able to produce a tremendous amount of goods without labor. Without labor, there are no jobs; people without jobs have no money and can't buy the products the wealthy produce. Sales and profits for the wealthy class dry up. At that moment, the wealthy will realize that the working class will need basic income so they can buy stuff again.
I think basic income will be great -- most people won't sit on the couch and do nothing. People will be able to go to school, learn a new trade, do freelance jobs on the side, start a business. Freedom and life enjoyment will increase.
One of my favorite armchair philosophers says that the fruits of the Industrial Revolution ought to be the leisure to explore the world and try out new stuff without worrying about going hungry.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,596,838 times
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Quote:
Originally Posted by workingclasshero
its been constantly losing value...every year
1970 a mid size chevy was 3k....today a mid size chevy is 30k+
in 1970 an average house here on long island was about 20k....by 1995 it was 150k...today 400k
our dollar buys less and less every year
You can't compare a 1970 Chevelle to a 2017 Malibu. A 1970 Chevelle was packing anything from an inline six to a big block V8 with a carburetor, breaker point distributor ignition, almost no pollution controls (PCV was it on the national level in 70, clean air states mandated smog pumps), standard 4 wheel drum brakes (front discs optional), body on frame construction, no crumple zones, rubber floors, nawgahide bench seats (front buckets and cloth optional), AM radio with optional 8 track, no air bags, fuel economy in the single digits for the V8's and maybe 10-11 mpg for the straight six.
And for houses, it is two problems, neither one having to do with a dollar losing value. The first problem being homes have gotten much bigger sq ft wise, and the second being there is an undersupply of houses and apartments relative to demand in most metro areas right now, and when demand exceeds supply, $ goes up
Do you think the government providing a basic income to everyone is a good idea?
Yes, great ideal but it needs a few conditions for people receiving basic income:
1. They forfeit the right to vote and to have children
2. If they commit any crime, the sentence is automatically doubled.
3. They are required to maintain certain health standards such as weight and free of drug and alcohol abuse.
I can remember when a paper dollar was a "Silver Certificate". If you presented it to a bank, they had to give you a silver dollar for it. The silver dollar was actually made of silver! Today, a bank does not have to give you a silver dollar for a Federal Reserve Note. It is not backed by silver or any other precious metal, just FAITH.
Actually the dime, quarter, 1/2 dollar and dollar coins were all made of silver until 1964. A $ then was defined in terms of grains of silver. You are correct about the rest. Those redemptions ended in 1971 when the US Treasury stopped issuing currency.
They had to stop it to go to 100% fiat money. Not coincidentally, 99% of all US Government debt has been generated since that year.
The $ is now currently worth nothing. It has $0 intrinsic value. If it did, they couldn't create trillions of them.
Sorry, but that just hasn't been the case for a very long time.
True. I'm just pointing out that what we value changes. There's nothing inherently valuable about anything except energy, and we are in no danger of running out of that. The sun delivers way more than we can make use of.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,596,838 times
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Quote:
Originally Posted by lifeexplorer
Yes, great ideal but it needs a few conditions for people receiving basic income:
1. They forfeit the right to vote and to have children
2. If they commit any crime, the sentence is automatically doubled.
3. They are required to maintain certain health standards such as weight and free of drug and alcohol abuse.
That would be everyone then, because UBI is not going to be means tested, everyone is going to get it whether they work or not. So no one would be allowed to vote or have children. Cue the extinction of people in the US in 80 years or so
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,596,838 times
Reputation: 9169
Quote:
Originally Posted by WaldoKitty
Actually the dime, quarter, 1/2 dollar and dollar coins were all made of silver until 1964. A $ then was defined in terms of grains of silver. You are correct about the rest. Those redemptions ended in 1971 when the US Treasury stopped issuing currency.
They had to stop it to go to 100% fiat money. Not coincidentally, 99% of all US Government debt has been generated since that year.
The $ is now currently worth nothing. It has $0 intrinsic value. If it did, they couldn't create trillions of them.
If you think the dollar isn't worth anything, then I'll take yours
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