I think we would all agree that a dollar is a dollar. But what’s a dollar worth? The answer is: not much. If you want a cup of coffee at a restaurant, it will cost you at least two dollars. The same coffee in the 1960s would cost ten cents a cup. The average American family income in 1960 was about $6,700 (with 30% of the families having two income earners). The average a family income in 2016 was about $62,500 (with 60% of the families having two income earners).
Therefore, the average family in 1960 could afford 67,000 cups of coffee per year; and the average family in 2016 could annually afford 31,500 cups of coffee. But the vast majority of 2016 families would need two people working to achieve this goal.
Some people might say, “sure, but they wouldn’t have a computer in every home”, or “right, but they wouldn’t have had cellphones”, or “they would only have one automobile.” This is true, but there are monetary, time and livability costs related to all this connectivity and mobility. At the end of the 1960 worker’s day, he or she could return home and relax. In the great majority of families, someone could remain home and work to maintain a “home”. This is not true of their 2016 counterparts. Now, their work has become embedded in their lives. The do not have time or energy to create even a sense of “home”. They suffer from stunted lives, chronic fatigue, a coffeehouse/restaurant diet, and the exhausting whirlwind existence of mice on a tread mill.
This is the nature of a monetary system based on credit and maintained by the inflation of the dollar—the invisible tax. The ultimate end of such a system will have whole families responsible for incredibly gross and ever-lasting national debts. Eventually, they will have to work the entire day just to be able to buy a single cup of coffee. Of course, this will never happen. The money changers will first reset the economic system using some new tactic, or they will create another mind-numbing war, or some combination of the two.
Let’s hope someone or something drives the money changers out of the temple of our daily lives, before they destroy our society.