This question about fiat messed me up
We all know that prices where much lower in the past due to inflation. A prime example is that in 1915 a burger cost 15 cents (3.51 in today's money) but here is the question that really messed with my head:
"Imagine that the burger shop in 1915 had access to today's burger making technology. Machine made buns made from modified wheat, hormone infused cow fodder, industrialized pickle production, cheap vegetable oils, all of it. Would the burger in 1915 then not be even cheaper than it already was?"
"That is not a fair comparison" you may think "things where cheap then because the price of labor was much much lower!"
Okay, but why was the price of labor lower, yet people could afford to own their own homes and support a family on a single income? I am not saying that someone who where flipping burgers in 1915 lived a luxurious life, I'm just saying that the math is not mathing.
Think about it. The energy cost of production has steadily decreased for a century due to technological advancements, yet not only has the prices sky rocketed but more importantly quality has decreased significantly. Today we pay more for the carcinogenic embarrassment we call food than ever, yet it should be cheaper than ever before. The same burger that in 1915 would cost 3.51 in today's fiat dollars would more likely cost 10x that and be called "grass fed, naturally sourced, ecological, ethically produced, local artisanally made" or some other BS.
Do not trust the official inflation numbers. Things are worse than they want you to realize.
Bitcoin fixes this.
https://redd.it/1hj9gc9
@r_bitcoin
We all know that prices where much lower in the past due to inflation. A prime example is that in 1915 a burger cost 15 cents (3.51 in today's money) but here is the question that really messed with my head:
"Imagine that the burger shop in 1915 had access to today's burger making technology. Machine made buns made from modified wheat, hormone infused cow fodder, industrialized pickle production, cheap vegetable oils, all of it. Would the burger in 1915 then not be even cheaper than it already was?"
"That is not a fair comparison" you may think "things where cheap then because the price of labor was much much lower!"
Okay, but why was the price of labor lower, yet people could afford to own their own homes and support a family on a single income? I am not saying that someone who where flipping burgers in 1915 lived a luxurious life, I'm just saying that the math is not mathing.
Think about it. The energy cost of production has steadily decreased for a century due to technological advancements, yet not only has the prices sky rocketed but more importantly quality has decreased significantly. Today we pay more for the carcinogenic embarrassment we call food than ever, yet it should be cheaper than ever before. The same burger that in 1915 would cost 3.51 in today's fiat dollars would more likely cost 10x that and be called "grass fed, naturally sourced, ecological, ethically produced, local artisanally made" or some other BS.
Do not trust the official inflation numbers. Things are worse than they want you to realize.
Bitcoin fixes this.
https://redd.it/1hj9gc9
@r_bitcoin