Eye opening numbers

During my daily scroll through my Twitter (oh wait X) feed, I saw this post paas by. It’s by Joey Mannarino, someone with s distinct view on macro and micro economics, with which I am not always agreeing. But still, interesting stuff.

It compares the average income, average price of a car an the average price of a house during the Great Depression in 1930 with the numbers of today. And the comparison opens up your eyes very widely.
In 1930, an average house cost you 3 years of salary. Today that is a whopping 8 years of salary. In 1930 you could buy two average cars with a year’s salary. Today you barely can buy one…

Economic growth?

The big question here is, id this economic growth? I don’t think so. To the contrary, production cost and technology have been refined immensely since the 30’s, things should have become cheaper. But the opposite is true. One could argue that demand is higher, due to the growth in population. But that doesn’t really stand as back then, most families only had one income and that was enough to support the family. Today, husband and wife have to work both to keep their head above water. So, this growth in demand should be countered by the extra income, but even that is not enough to have the average life standards of back then…

We actually didn’t “grow” economically, we declined and pretty steep too.

Let that sink in, when you think of the dollar based economy. It really shows that there is a big need of an alternative to that, and that is crypto!

Sincerely,

Pele23