Happy 100th birthday Federal Reserve

[hysterianut]

Kasz216 said:

1) Because houses are way better now.  I mean shit.  I'd rather have one townhouse then 100 peasent huts.

thats what i said before,because of industrial revolution things have improved and because of efficiency and improved productivity we have more

 

but the gap between the rich and poor is still the same.

what you are talking about is better standard of living.

it is not like that a poor person has a better house nowadays,that he doesn't envy the rich like before.he still does.that is where the human pschology i was talking about comes in

 

but wealth is more to do with purchasing power.

 

and standards of living have always been improving,hell when we first became humans from monkey if you follow the evolution theory,we had an upgrade in standard of living.

then when humans formed tribes,we again had an upgrade in standard of living,then when humans started farming,we again had an upgrade in standard of living and there on

 

you are mixing time and eovlution of humans and how humans used the environment with wealth

 

2) Thank you for admitting human psychology has nothing to do with wealth, and that i was right.

wealth is standard always,human pschology has nothing to do with its expansion which never happens,only shift of wealth happens.

 

3&4)   Wait... so your AGAINST socialism?   You do realize your interpretation of wealth is an old old marxist theory right.

you don't seem to understand by point of view if you think i am marxist.

i am for competition all out.

As for the 80% of the worlds population living on less then $2 a day.

First that's wrong... by about 35%

http://twodollarchallenge.org/

thats bullshit

in India,China,Africa 80-90% live on less than $2 a day

that itself is 50% of the world population.

i live in india

And second, that's waaaaay less then there ever was before adjusting by PPP

PPP is bulshit,devloping or poor countries use this to hype up their economy.

i live in india,i know what the indiagovernment does.

also in a globalised world,slowing everything has become standardised in price terms on a global scale

and third... thanks to purchasing power.  Those people can afford a lot more then someone in a rich country.

LMAO

are you out of your fucking mind.Have you ever seen the living conditions of poor countries.

most of the people cannot even afford food properly

5) Because far more people couldn't surivive not that long ago, talk about other things is rather meaningless when basic survivial isn't a given.

so what?

also current population boom has been there only since World War 2 and that was because of Green Revoltion,with peak oil and high energy prices the survival is becoming very tough

Outside that.  Property ownership is up, luxuary spending is WAY up, developing countries are all developing quite well...

property ownership is up on a low lending rates and ponzi schemes that bank starts.

look at china property bubble.

there's one in india

and there are many across the world

property sales on false interest rates and easy money boom isn't sustainable.

 

Also property ownership has nothing to do with hgiher wealth either.

Land was always limited like wealth,it is just a tranfer of wealthconversion from farm land in housing.same with luxury spending.you seem to have bought the FED boom drug which seems to make you belive their fantasy.

all of these booms

property boom

electronics boom

credit boom

education boom

bond boom

stock boom

was only possible because of money pumping of the FED

Wealth really has grown everywhere.  Between this and the 80% comment it feels like you have a false sense of what foreign countries are like.  Still picturing africa as nothing but a bunch of villiages etc.

you again seem to have bought this global boom picture

i live in Mumbai,the main city of India.Before the boom,everybody was building houses in india and indians though their economy was gonna go through the roof.

after the crash 50-60% of the housing properties and empty.

read about the China property bubble which is gonna be the biggest in history.

 

just to give you a perspective,in 194 when the british left india.it had 2% of the world's gdp which can also translate into 2% of the worlds purcahsing power.

india had a population of 400million back then

 

today india has a population of 1.21billion,that is 3 times the size of population back in 1947

but today india's share of global gdp is 2.6%.that means more people in india are producing the same amount of wealth as india did back in 1947

 

 

the boom news stories which you might find on news channels only covers the very elite people of the developing countries and not the majority of the population.

all these big cities that you might see in developing countries are very few where the elites of the country live