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Quality of life in China is Up. Quality of life in USA is Down. They manufacture things, we don't..
China is up because they better understand the nature of fiat money. Learned from the West. And then applied on a larger scale and shorter time frame than the West. More easily applied via central command. China has rapidly raised the lot of huge numbers of their people. Moving forward the Chinese will continue to follow the West and become more of a consumer society.
A large segment of ours lags. Not good, but on balance so bad as their massive gains. Our laggers need bail, but they worry too much about inflation.
If I had my income and net worth adjusted for inflation I'd have a fat stock portfolio, a nearly or fully paid off home, a new Cadillac in the drive way, and a house wife making me dinner every night. I'd say there's been a massive drop in quality of life.
Last edited by Perma Bear; 10-07-2016 at 07:47 PM..
If I hadn't my income and net worth adjusted for inflation I'd have a fat stock portfolio, a nearly or fully paid off home, a new Cadillac in the drive way, and a house wife making me dinner every night. I'd say there's been a massive drop in quality of life.
I hate to break it to you, but at no time in the past did the average American ever have a fat stock portfolio, a nearly or fully paid off home, and new luxury car in the driveway. As for the happy housewife, well, often she wasn't so very happy - and divorce wasn't an easy option like it is today. The two of you were stuck with each other, like it or not. And if you DID qualify for divorce, you paid her a large monthly alimony check for the rest of your life.
The past was not a paradise, despite what you seem to believe. Most people have always lived financially precarious lives, and were forced to work hard for their living. Don't believe anyone who tells you otherwise.
I hate to break it to you, but at no time in the past did the average American ever have a fat stock portfolio, a nearly or fully paid off home, and new luxury car in the driveway. As for the happy housewife, well, often she wasn't so very happy - and divorce wasn't an easy option like it is today. The two of you were stuck with each other, like it or not. And if you DID qualify for divorce, you paid her a large monthly alimony check for the rest of your life.
The past was not a paradise, despite what you seem to believe. Most people have always lived financially precarious lives, and were forced to work hard for their living. Don't believe anyone who tells you otherwise.
I literally said adjusted for inflation. That's with the income and what I have today compared to those
Times. This is a massive drop. I am barely surviving, living like a college student. Sure I save a lot but it's like saving monopoly money because it can't buy the same lifestyle that someone back the could have enjoyed.
I literally said adjusted for inflation. That's with the income and what I have today compared to those
Times. This is a massive drop. I am barely surviving, living like a college student. Sure I save a lot but it's like saving monopoly money because it can't buy the same lifestyle that someone back the could have enjoyed.
And I'm telling you that your "adjusted for inflation" calculations are wrong. Even in the 1950s, San Francisco and New York City were expensive places to live compared to the rest of the country.
And I'm telling you that your "adjusted for inflation" calculations are wrong. Even in the 1950s, San Francisco and New York City were expensive places to live compared to the rest of the country.
The past wasn't a Leave it to Beaver episode.
The premium to live in SF at that time was something like 20% at the most vs 500%+ like nowadays.
Many studies have blamed the baby boomer generation.
I tend to agree.
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