...
You think the averge paycheck will be 4 times bigger in 10 years?
You think the averge paycheck will be 4 times bigger in 10 years?
If the inflation is high enough to devalue the dollar by 75% (your candy bar example, and just a touch more than what happened to BTC this year), absolutely. The chart you have posted not only agrees with my expectations, but suggests that in such a scenario, income would MORE than quadruple.
That's why it's important to *understand* the charts you post.
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Is there a single person on this thread that has 10% pay rise year on year? Footballers, ceo's and politicians... anyone else?
Not sure, I find it difficult and unpleasant to imagine what you Bitcoiners do for work.
But I know that a candy bar which cost $1 ten years ago does not cost $4. According to this,
... it costs just $1.26.
I was just entertaining your hypothetical
Are you beginning to realize how important it is to know what you're talking about before typing?
I don't live in the US, so I can't say if your 0.26 cent increse over 10 years is realistic or not. It's certainly not true of the UK, a 200g Galaxy bar was £0.85 in 2004 and now it's £2.00.
We're talking about real currency here, the US dollar. If you wanted to discuss GBP, why use $ in your candy bar example?
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The last 10 years just gone, were just a taste. The calcultor doesn't cater for 3 very important factors the future has in store for the world ecconomy. World popluation is rising (fast), arible land is declining (fast) and mechanization is increasing.
Southern Europe is alredy experiencing youth unemploment of over 50%, with little hope of a turn around. Jobs creation in some parts of the EU is increasing, however the vast majority are lower paid jobs. Some parts of the EU population have lower wages year on year. Spain 10% lower, greece is similar. Wages are falling. Take Russia, people still on the same wages and the ruble is 40% lower compared to Euro, Pound and Dollar. Prices are going up everywhere and wages aren't, you can't argue with that.
Southern Europe is alredy experiencing youth unemploment of over 50%, with little hope of a turn around. Jobs creation in some parts of the EU is increasing, however the vast majority are lower paid jobs. Some parts of the EU population have lower wages year on year. Spain 10% lower, greece is similar. Wages are falling. Take Russia, people still on the same wages and the ruble is 40% lower compared to Euro, Pound and Dollar. Prices are going up everywhere and wages aren't, you can't argue with that.
Don't cherry-pick your data. The unemployment rate in UK, where you live, is...
The average income has been growing steadily, here:
Doesn't seem like you're starving.
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Take the $1 choclate bar example, in 2024 will it cost over $4? Probably. Will my wages be 4 x higher? absolutely not.
http://blog.ccberries.com/2011/03/09/libya-and-ivory-coast-gas-and-chocolate/
http://www.nasdaq.com/markets/cocoa.aspx?timeframe=10y
http://blog.ccberries.com/2011/03/09/libya-and-ivory-coast-gas-and-chocolate/
http://www.nasdaq.com/markets/cocoa.aspx?timeframe=10y
Lol, I thought you were using the candy bar as a hypothetical, but you're ...calculating inflation/standard of living by coco prices? Not basket of goods,, like sane people?
Why not offer a more compelling example? Here, I'll even do it for you:
"On the first of this month, a Dec. 1 copy of the NY Times cost $2.50. Today, if you wanted to buy that Monday copy, it would cost you ~$5. If you could find it. That's 100% WEEKLY inflation! Burn your dollars!"
This is the best description of a Bitcoiner mind I've ever ran across. This guy writes for teens, so you'll have no trouble understanding:
“I have never seen a more sublime demonstration of the
The boss G-man concluded wrongly that there were no teeth on the gears in the mind of Jones. 'You're completely crazy,' he said.
Jones wasn't completely crazy. The dismaying thing about classic totalitarian mind is that any given gear, though mutilated, will have at its circumference unbroken sequences of teeth that are immaculately maintained, that are exquisitely machined."-- Kurt Vonnegut
