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Old 07-12-2017, 01:17   #41
Enoch Powell
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Video not working? GO OLDSKOOL! Or just give up. N* is bound to post a better vid.



Pentium 166 laptop, $8,000 in today's money

It's a nice reminder of how lucky we are today with computers orders of magnitude faster, and also at a fraction of the price.

And also how completely bogus the mainstream economics conventional wisdom is about deflation being a disaster and how people will defer purchases indefinitely in a deflationary market. This lie is still printed in textbooks despite there being no empirical evidence for it in practice, and a wealth of evidence debunking it.
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Old 07-12-2017, 08:24   #42
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Except that your example *is* covered by economics when you consider purchasing power - if the rate at which your purchasing power is decreasing is less than the rate at which what you get for a given amount is increasing, then the deferred purchase argument clearly doesnt add up.

Its another straw man from you.
- you've taken an argument no credible economist would make and used to to explain why economics is bunk.
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