[MrBill]

The declining value of the US dollar against the yen?

[cube]

$this->bbcode_second_pass_quote('Gideon', 'I') figure it's only a matter of time.

Looke at it this way: a minimum wage worker who uses 2 gallons of gas to commute to work would have to work 25% of his/her day just to pay for the gas...

[MrBill]

Gideon wrote:
$this->bbcode_second_pass_quote('', 'L')ooke at it this way: a minimum wage worker who uses 2 gallons of gas to commute to work would have to work 25% of his/her day just to pay for the gas...

[mekrob]

$this->bbcode_second_pass_quote('MrBill', 'G')ideon wrote:
$this->bbcode_second_pass_quote('', 'L')ooke at it this way: a minimum wage worker who uses 2 gallons of gas to commute to work would have to work 25% of his/her day just to pay for the gas...

[MrBill]

$this->bbcode_second_pass_quote('mekrob', '')$this->bbcode_second_pass_quote('MrBill', 'G')ideon wrote:
$this->bbcode_second_pass_quote('', 'L')ooke at it this way: a minimum wage worker who uses 2 gallons of gas to commute to work would have to work 25% of his/her day just to pay for the gas...

[MrBill]

$this->bbcode_second_pass_quote('Gideon', 'M')r. Bill, doing his best to maintain pole position on my "uninformative and irritating to read" list.

There's no such thing as inflation.

"Inflation" is a term that is used to disguise the real issue, which is dollar devaluation.

Every day a dollar loses value.


Anyway, the reason that every Mr. Bill posts bothers me is because Mr. Bill is an economic peacock.

He comes in, shows all the feathers, and is proud.

But the truth is, he's the worst flier in the flock.

[dissimulo]

If it ever happens while the dollar is still our currency, I think it will be a long time. Congress will make sure to keep raising the minimum wage to ensure something like the current ratio of hourly wage to gas price exists. To do otherwise risks being voted out at a time when it will be increasingly difficult to find soft, high-paying employment. California will probably lead the way, keeping their minimum wage high enough for all the yard maintenance workers to afford gas for their lawn mowers, trimmers, and edgers.

In the past, economic reality has not been reflected by economic policy. Why should this be any different in the future?

[MrBill]

Gideon wrote:
$this->bbcode_second_pass_quote('', 'T')here's no such thing as inflation.

"Inflation" is a term that is used to disguise the real issue, which is dollar devaluation.

Every day a dollar loses value.

[Pretorian]

Well , to put it shortly I could retire with 30K in 2000, to do the same now I need $300 000.

[MrBill]

$this->bbcode_second_pass_quote('Pretorian', 'W')ell , to put it shortly I could retire with 30K in 2000, to do the same now I need $300 000.

[evilgenius]

I think two years if minimum wage stays where it is now. I think three or probably four if inflation presents the poll with a moving target.

Of course, all of this assumes that in two years anybody has a job!

[MrBill]

$this->bbcode_second_pass_quote('evilgenius', 'I') think two years if minimum wage stays where it is now. I think three or probably four if inflation presents the poll with a moving target.

Of course, all of this assumes that in two years anybody has a job!

[MrBill]

Whatever Gideon. As usual you cannot provide me with a rebuttal, so you resort to insults. Never mind the clear examples I provided. As I said, whatever.

[MrBill]

What exactly am I supposed to predict?

What have I predicted wrongly?

What have you predicted correctly?

Not being an economist, but a banker, I do not get into a lot of econometric theory. I look at markets and try to figure out what is going on.

Most of my time on peak oil dot com is not actually predicting anything, but just cleaning up other people's sloppy thinking and incorrect assumptions about markets and economics.

If that is what bothers you, that I do not let you get away with saying just anything, then I am guilty as charged.

But I have a solution. If you stay away from Depletion Economics as a poster, you will never have to either read my posts nor have yours corrected by me. Fair enough?