@TimmerFidelity Maybe we are in an earnings bubble due to all the capex spend? Could there be a mean reversion event once that spending ceases/slows or if ROI is low on the spend?
@wesbury@ChuckGrassley Brian, it's really simple. The government employs too many people. We already have UBI we just hide it through government jobs or projects. Balance the budget....cut spending....you would have massive unemployment... we may be better off after, nobody wants transition pain.
@wesbury I was 10 years old when Ross Perot pointed this and our budget issues out in the 1992 election. We have had 34 years to fix it, doubt we will in the next 6!
@saylordocs I would a big reason for this is the fact you use to be able to start working at say 18, become an apprentice and start making money. Now you have to go to school and pay 100k+ to get a degree to hopefully get a job. Most dont finish school until 25+
@petrijaervinen@CashuBTC 8 billion.....come on....most developed world also tax it. And the 3rd world use....hiw many are really using it as oayment transfer in exchange of goods scenario.....maybe there is a growth case there. But looks like stablecoins will fill that void
This is insane.
1971:
-Gold was $43/oz
-Average hourly wage was $3.70
-Time needed to buy one oz of gold: 11.6 hours
2026:
-Gold: $5,000/oz
-Average hourly wage: $28
-Time needed to buy one oz of gold: 179 hours
What does this mean?
Your time is literally less valuable today than it was 50 years ago. Look at it this way:
In 1971: Work 12 hours โก๏ธ get 1 ounce of gold
In 2026: Work 12 hours โก๏ธ get 0.07 ounces of gold
Gold is still gold. One hour is still one hour. Wtf is happening?
We haven't used sound money since 1971, when U.S. President Richard Nixon took us off the gold standard. Money became infinitely printable, with nothing required to back it.
So they printed money, over and over. And over. And over. And over again.
Every time they printed new dollars, the dollar became worth less. Think about it like this:
If there's 10 copies of a rare painting, and then they make 1,000 new copies, all the copies become worth less. That's what happens when you increase the supply.
That's what's been happening to the dollar since 1971. And guess what?
The money you use represents your time.
You give time and energy to the market, the market gives you money in return. That money reflects the time you gave.
It's no wonder that time has become less valuable as the dollar has become less valuable.
We don't use gold to measure our time and energy. We use a money that can be printed out of thin air by a small, central group of elites that we have no real say over.
Anybody with the power to print money from nothing will eventually abuse that power. That's what's been happening since 1971.
As a result, it now takes more of your time to earn the same amount of gold, which is completely backwards from a species that is supposed to be progressing.
It should be going the other way. As we develop new technologies and bring more productivity to the market, it should take *less* time to earn the same amount of gold.
The only way -- THE ONLY WAY -- to stop your time from becoming less valuable is to use a different form of money. You must exit the dollar system. You cannot escape time-debasement if you are in a system with monetary-debasement.
You need a system that cannot be debased.
We have a monetary system that was explicitly created to prevent monetary debasement once and for all. We have evidence for those that have chosen that system.
If your money was Bitcoin, this is how much time it would take to buy one ounce of gold:
2012: 208 days
2016: 2 days, 22 hours
2020: 4 hours, 28 minutes
2024: 56 minutes
The dollar loses value over time, because it can be infinitely debased. The longer you use it as money, the more time you lose.
Bitcoin gains value over time, because it is the only money that cannot be debased. The longer you use it as money, the more time you gain.
The game is alignment.
Choose wisely.