The complexity of the modern world and its economy was undreamed of centuries ago. They have little relevance at all.
The federal reserve has kept the US out of depression for over 70 years. It is envied by many nations.
Read what Politifact says about that Tea-party statement.
http://politifact.com/virginia/statements/2010/nov/24/virginia-tea-party-patriots/virginia-tea-party-says-dollar-has-lost-98-percent/
So let’s look back over the facts.
No doubt, the value of a dollar has plummeted since 1913, when milk cost eight cents a quart. The Tea Party’s says the buck has dropped by 98 percent, but its use of the gold standard to measure the greenback is not a relevant gauge. Using the Consumer Price index, as many economists recommend, we find the dollar fell by 95 percent since 1913.
So the Tea Party, despite its disputed methods, wound up with a figure that’s in the ballpark.
But in bemoaning the drop in value of a dollar, the Tea Party omits a huge mitigating factor: salaries have grown enormously since 1913 and consumers have more to spend. If the Fed’s historic handling of inflation is to be blamed for the drop in the dollar, it must be credited for the rise in wages.
We rate the claim Half True.
This is a profoundly ridiculous statement.
Make your case in another thread and I'll demolish it.
Oil is universally accepted as a fossil fuel no matter how deep it is found. There is no evidence to date of abiogenic petroleum (liquid crude oil and long-chain hydrocarbon compounds) formed abiogenically within the crust, which is the essential prediction of the abiogenic petroleum theory.
The total amount of gold that has ever been mined has been estimated at around 3.5 billion ounces. In the U.S. alone, where more than $8.3 trillion is in circulation or in deposit, this would require an ounce of gold to be worth $237 billion and we would have to possess all the worlds gold. When you consider that the world GDP is $74 Trillion, it becomes preposterous to consider making gold or anything that expensive. It would preclude the use of gold for any of its vital uses in electronics, dentistry, and jewelry. It would be too valuable to squander in such fashion.
The gold standard is an outdated notion from a simpler time.
Cite one reputable analyist. Just once.
Look up "floating exchange rate". It's a natural phenomenon in a capitalist economy. The dollar does not and never has risen steadily.
What about it?
The Chinese have not stopped buying treasury bills, nor have American investors.
I think that way about FOXnews.
The unemployment rate dropped under 9 percent, this is a fact. The way that unemployment is calculated has not changed.
Unemployment goes down = workforce increases by that amount.
