OT WE 27 MAY 26 ~ The Incredible Shrinking Dollar
Not sure how to properly define this concept, but have you noticed everything costs more now and
the once almighty buck is continually worth less? I sure have. To keep perspectives in round figures
in 1986 the dollar was worth about 3 times what it is now or our purchasing power is roughly 1/3 of
40 years ago. I think back at all of the money paid into social security back then and since, purported
to be a 'savings' account for retirement has vastly evaporated. I don't know what formula the SSA
used to determine my benefits, but it certainly did not properly take into the effect of inflation.
With an annual average rate of inflation at 2.9%, it works out to be about 200% cumulative. So the
cost of goods and service is about twice as much and the value of the dollar is about 1/3rd. A losing
proposition all around. The reason I bring this up, the eagle flies today for my monthly pittance. It barely
covers the monthly bills. Forget about saving for the occasional spike in expenditures.
The banks disincentive savings by paying a fraction of a percent on accounts. Not even close to
inflation. So having a chunk of cash loses money every month. I realize there are all kinds of
investment schemes out there, but they seem to be slanted toward the money managers and the
already wealthy. Not much help for us working poor.
The whole idea of the US being the 'richest nation on the planet' falls apart when indicators like
homelessness and hunger continue to climb. And the cost of health care, medications, housing and
insurance is skyrocketing. Along with Musk and the other trillionaires. This is not a just financial
system by any stretch. Wealth inequality is approaching or surpassing the great depression levels.
I do not foresee another New Deal in the cards. Short of a revolution or massive uprising, we seem
to be screwed to the wall. End of rant.
Image - Gaia Sleeps Amid Sarah Eberle’s Garden, Chelsea UK.
The figure’s face and shoulders are made from a fallen mature tree carved by Tim Wood.
https://www.thisiscolossal.com/2026/05/on-the-edge-sarah-eberle-gaia-scu...
Open Thread territory so throw-in whatever you have to the soup.
Comments
Hey, good morning
.
Regarding the opening theme, Trump / Cruz are once again pushing
the privatization of Social Security thru something called the
'Trump Account' contained within the Big Beauty BS bill. It basically
requires investment in the stock market for young-uns. What could
possibly go wrong?
https://www.newsweek.com/social-security-privatization-fears-spark-warni...
Today in history Rachel Carson was born in 1911. She authored a seminal work titled
Silent Spring which brought attention to environmental issues
Also on this day in 2011 Gill-Scott Heron passed. One of his more famous songs -
Perhaps that should be updated to will not be live streamed.
Zionism is a social disease
Good Rant
Unfortunately accurate. American capitalism seem centered around exploiting everything for maximum profit. The more wealth you have, the more you can insulate yourself. Odd thing, the more wealth you have, the greater the need to satisfy your wants beyond your needs, so no matter your wealth you always feel it isn't enough. So you have people making north of $200k complaining they're just getting by, and it's all those low income moochers gaming the system that are preventing them from having a good life.
Exploiting others
.
somehow gets associated with the good life for
these greed heads. I just don't get it. If there existed
some kind of social score where tax rates are tied to
things like sharing wealth and verifiable good deeds,
perhaps the wealth inequality would diminish a bit.
Birthday wishes to former busker Bruce Cockburn, 81 years today.
Zionism is a social disease
Now for something very different:
.
And possibly unforgettable....
(grab a few tissues)
Thought Pakistan refusing US attempts
.
to have them 'normalize' relations with Israel both funny and
telling. Now that Trump has failed miserably in west Asia, it
appears he wants to pick on Cuba next. Shift attention away to
some smaller target that the weakening empire might dominate
for a few news cycles. Winning!
Wishing Iran a happy Eid celebration (the feast sacrifice) today.
Zionism is a social disease
Good morning Cap'n Q. Thanks for the OT, great picture, too.
In the early fifties, a simple passbook account paid 3%, today yu need to put a decent amount of cash in a Certificate of Deposit to get that kind of rate. When I ws in my earaly twenties I knew a guy who had managed to salt away enough in interst bearing instruments and "income stocks" that he dould live off the earnings without touching the principal, though he did live pretty frugally. Today you'd need about a million bux principal to get around 40 to 50 thousand before taxes, and you'd definitely have to own your domicile if you were going to live on whatever that turned into after tax.
Somewhere along the road the Fed began consciously manipulating the money and the interest rates in such a fashion that returns on ordinary investments were less than the increase in the cost of living, forcing all the elderly to gamble in the stock maarket or other investment schemes before their life savings simply evaporated before their eyes. The prospect of longevity is concerning as everybody can foresee serious financial difficulties down the road at some point if they last long enough.
So, something has to change, soonly or we're looking at soylent city.
be well and have a good one
That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power. -- Franklin D. Roosevelt --
During my working years
.
only at the latest period were instruments like IRA's
available. Unfortunately, they were subject to the risks
involved with the 'market'. Also skimmed by money managers.
I focused primarily in real estate improvement, tools and physical
goods. Money is like water, it evaporates. But it is also the lubricant
necessary for day to day social exchange. It seems to be coming thinner.
BWANGO
Zionism is a social disease
A late morning...
The last two days we've spent putting things away and back to normal. Took three loads of wash for clothes, bedding, and so on. We had evening rains each afternoon which is common in Florida, but left plenty of damp stuff to tend to as well.
Inflation plus shrinkflation (pounds are now 12 oz I guess). Gas will continue increasing in cost. For the most part we paid about $4/gal. Sorry to say I'm looking for worse.
Glad we have farmer friends.
Liked the Gaia photo. Thanks for the OT!
“Until justice rolls down like water and righteousness like a mighty stream.”