fatslob-:O said:
Higher disposable income = Price raise on common commodities ... The transfer of wealth affects the supply and demand of goods in uncanny ways ... |
Doesn't mean that more currency is going to be printed, that was your original argument.
As for higher prices on commodities... That is not always the case either.
The Xbox One X for instance is actually going to be cheaper in Australia than the USA, once you account for currency conversion.
| fatslob-:O said: Sure it is, people just choose not to accept lower living standards ... |
And nor should they. We live in "first world" countries.
| fatslob-:O said: We don't need dental care either for the vast majority of the population as that is an artifact of the past from the fact that we had very few inexpensive ways to maintain our dental health but with modern toothbrushes and toothpaste we don't need to worry so much about tooth decay anymore unless you consume a lot of acid. |
And yet. Millions still rely on dental care.
And even when you have brushed your teeth, maintained good eating habits you whole life... You can still require dental care.
| fatslob-:O said: Australia is able to afford universal healthcare because it's population is less than 1/10th of America and that the citizens over there have relatively good health conditions and habits too. |
That is a fallacy.
Population size has nothing to do with it, we are paying less per-person for healthcare than the USA, your system is extremely inefficient and results in inferior quality care, whilst being more expensive per capita.
| fatslob-:O said: America is eating itself into diabetes and cardiovascular diseases which puts a huge strain on the health system and that ends with us hiring foreign doctors looking to make big cash off of us. |
Australia is also battling obesity, diabetes, cardiovascular diseases etc'.
But we tend to do a slightly better job at it.
Having a better health care system does help.
| fatslob-:O said: Make no mistake that an American citizens health is a big liability in itself since we're leaders in terms of chronic condition rates LOL ... (I don't think any subsidized healthcare system can help with that.) |
Part of what makes an effective healthcare system is ironically... Education. Beating the problem before it becomes a problem.
Our Government/Health System has done a ton of educational work about the effects of obesity, smoking, alcohol etc'. And that does actually have a flow-on effect.
| fatslob-:O said: It's not a good idea to totally transition away from manufacturing since you can't reap living cost benefits without that sector or become a net exporter which is equivalent to a net profit for a nation. Even Germany keeps manufacturing around or at least high value manufacturing and their doing great cause they can't rely on having precious valuable resources like Australia since their nations reserves aren't as big ... |
Well. Even non-resource rich countries have a small amount of manufacturing, because importing some goods just isn't as feasible.
Singapore for instance, even has to import water, has no natural resources, but is a big contributer to semiconductor manufacturing.
With that, you don't *need* manufacturing, resources, farming etc' to be successfull. It helps. But it's not a requirement.
I highly doubt the USA will ever be the world manufacturing leader ever again... As a country you can talk big all you want, you can try and play the market as much as you want... But the entire world will continue to buy from China.
Your economy has to transition like all economies need to do... You aren't going through an industrial revolution anymore like China is currently experiencing.
And eventually China will slow down and another country will repalce it. Nothing lasts forever.
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