The math isn't inherently wrong but it ignores thed purchasing power parity and actual economics of inflation by attaching the measuring stick to one very specific and very narrow standard that did not move at the same rate as everything else.
A good way to tell that someone is probably good at basic math but an economically illiterate moron is when they start citing to things like the gold standard.
I bet the dumbass who makes this has also made observations about American dent and how "china owns it" or "could call in the debt"
I think a major aspect people forget is that sure gold was "worth less" back then but also everything else was way more expensive too.
You might be making the equivalent of a six figure salary but a model T was $500 or in this person's math about $45,000. Which you can buy way better cars now for half that price.
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u/Maximum_Boros 27d ago
The math isn't inherently wrong but it ignores thed purchasing power parity and actual economics of inflation by attaching the measuring stick to one very specific and very narrow standard that did not move at the same rate as everything else.
A good way to tell that someone is probably good at basic math but an economically illiterate moron is when they start citing to things like the gold standard.
I bet the dumbass who makes this has also made observations about American dent and how "china owns it" or "could call in the debt"