An Hour Of Your Time Has Never Been Worth Less | ZeroHedge

Whether it’s deleveraging, spare capacity, dollar debasement, productivity gains, or just plain old obesity, in real purchasing power terms, an hour of your time has never been worth less. In the 40 years since Nixon’s 1971 fiat-fiasco, the value of the average hourly earnings for US citizens has dropped 90% in terms of Gold. The last time that our labor’s efforts garnered such a low value saw a twenty year credit-blown releveraging (from 1980 to 2001) to save-us-all; we suspect that debt saturation will limit the ability of any central bank to create such a ‘recovery’ in labor-value once again. Since the peak in 2001, 60 minutes of your valuable time has lost 81% of its purchasing power! Is this what globalization looks like?

via An Hour Of Your Time Has Never Been Worth Less | ZeroHedge.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s