Posted on 08/22/2005 9:22:36 AM PDT by traumer
LOL!
Nope. I bought my house in one of the frothiest markets five years ago and its value has doubled since then. All well and good, except none of my friends with good jobs can afford to buy a house because every seller expects to turn that paper wealth into real cash if they sell. I'd happily burn a big chunk of my appreciation in favor of a more rational market where people under 40 without generous parents or top-10% salaries can still get a home.
They're probably going to a psychiatrist already and have introduced this new complaint into their weekly meetings.
You're right of course...look at how many people are here on fr during working hours, and they are'nt telecommuting!!
While it's true that there is 42 gallons per barrel, the real question is, how much oil does it take to produce 1 gallon of gasoline? You are assuming that 1 gallon of light crude produces 1 gallon of gasoline. However, I don't know how the refining process works. Who knows how much oil it takes to produce the gasoline, etc. You might also want to brush up on your math as traumer indicated as well. Assuming that oil is currently 67.00 per barrel, the cost per gallon is ~$1.59. (Take the total price, and divide by the total number of parts to find the individual price.)
And traumer wasn't saying that the taxes have changed much. He was pointing out that you suck at math. Posting comments that use calculations to prove your point is one thing. Posting those comments without possessing even the most BASIC of math skills is idiotic. Not to mention you have the nerve to call him stupid, yet you can't even figure out the cost of a gallon of oil?
Get off your little soap box and try taking a math class or two. Trust me, you need it.
.27 x 10 = 2.7.
How much was gold in 1970?
How much was an average house in 1970?
All about 1/10 what they were now.
What we are now and have been experiencing since the 70s is not so much higher prices as lower currency values. Inflation. As long as we have it, we can expect always be in crisis mode about "high prices." For one hundred years in our history when we were on the bimetallic standard, prices were fairly stable, a $2000 house still cost $2000 thirty years later. But those were silver or gold dollars. Our new paper system allows government to spend money it and you don't have. You pay as your savings are descimated by higher prices. Inflation is a stealth tax. I'm really looking forward 30 years from now to paying $30,000 property taxes on a small house, $30 gallon gas, and $80 a pack chicken. Won't happen you say? We'll get there just the same way we got here. By expanding the money supply and deficit spending.
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