No Minister

Your Government Approved Hug is here

In case you were wondering whether the response of governments around the world to the pandemic of Chinese Sinus AIDS has set us on new paths of authoritarian control into the future, the following news out of Britain should tell you that the answer is “YES”.

What will enable this is not just the never-ending lust of politicians to control every aspect of your life but the cultural changes enabled by the disease response, including the way academia and the media treat this news:

Oh joy! Thank you, thank you government.

On the non-government good news front there is this longer term trend.

The prime reasons for this are:

  • The death of Mao Tse Tung in 1976.
  • The collapse of the USSR and it’s Eastern Bloc of slave states.
  • The pushback against Democratic Socialism starting in the 1980’s with Reagan and Thatcher.
  • The rise of the Southeast Asian states as part of the Pacific Rim growth.
  • The collapse of the post-colonialist regimes across Africa in the last twenty years. Despite various awful events that continent is actually growing its GDP quite well and may be on the verge of a China-type period of economic expansion. Given its population growth rate they need to.

A reader has raised an interesting question as to the worth of that $700 in 1968 vs today. The answer is that it’s worth $US 5,327.99 in 2021.

Of course that begs the question of what is meant by “inflation”, and the following chart has a very interesting take on that. Of course it’s the USA and only since 2000, but still.

There is also this as food for thought on things getting better.

Written by Tom Hunter

May 12, 2021 at 2:11 pm

4 Responses

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  1. The bad news is that your $11K is worth less than $700 was in 1968.

    fredonas

    May 12, 2021 at 5:25 pm

    • No, $700 in 1968 is only worth around $5,400 now, implying that real incomes have doubled.
      https://smartasset.com/investing/inflation-calculator#GDPyuMYmal

      No Name

      May 12, 2021 at 8:26 pm

    • Hmmm…. via the US inflation calculator I get $US 700 in 1968 being worth $$5,327.99 in 2021.

      Of course there are a number of things that have actually got cheaper in that time, TV’s, computers and so forth. Unfortunately there are things that have got more expensive, like healthcare and education – US of course.

      And the figures in that chart are GDP, which is not quite the same thing as income, let alone wealth. Actually GDP is a pretty shitty indicator in some respects, being based around “spending”, whether that’s pissing it up against a wall via beer or investing in a factory. But for an apples-to-apples comparison between nations and across time it’s the measure with the least problems.

      Tom Hunter

      May 12, 2021 at 9:02 pm

    • Hmm, the “things that have got cheaper” are those that rely on technology or imports from low cost countries.

      The things that have become more expensive are those that benefit from neither, although I’m sure the New Republicans are working on a plan to outsource health care, child care, and education to Chynnaahh.

      Sir Loin

      May 15, 2021 at 11:40 am


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