Normal people: "The inflation is unbearable. I can't afford food, energy, shelter, or transportation anymore. I can barely take care of my family."
Nobel-prize winning economists: "If you exclude food, energy, shelter, and transportation, we're doing great!"
Once you understand that, when looking across time, one dollar *does not* equal one dollar, yet one #Bitcoin *does* equal one #Bitcoin, then you will understand.
50-70 years ago, a family with one income could afford:
- A house
- A car or two (1960s or later)
- Food
- Bills
- Other basic needs
- Saving for retirement
Today, a family with two incomes is struggling.
WTF Happened?
@PrestonPysh what do you think about this re: usd liquidity?
USD Liquidity Conditions Index = [The Fed’s Balance Sheet] — [NY Fed Total Amount of Accepted Reverse Repo Bids] — [US Treasury General Account Balance Held at NY Fed]
https://t.co/ZEZUNy7Or5
@wef If you remove the energy from anything useful you can almost eliminate its environmental impact. This is most common in fantasy novels and computer games. Real planes, trains, automobiles, homes, food, medicine, machines, and money all benefit from energy. So do real people.
#Bitcoin consumes as much power as Sweden.
Sweden : 10 million people and US$540 billion GDP.
Bitcoin : 100 million people and US$760 billion market cap.
Sweden is dirty.