@moffintosh
When you suffocate free/small enterprise with bureaucracy, regulation and taxation, then it shouldn't be surprising.
It went downhill so massively that 20-30 years later the ruling elite needed women to join the work force to collect more taxes.
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@niclas @moffintosh Don't forget the biggest offender: a central bank that prints money backed by nothing.
@moffintosh @niclas But it explains our current inflation.
Yes but @moffintosh already pointed out "adjusted for inflation".
BUT I suspect that the official "adjustment for inflation" is not accurate, or should I say "massaged" to show it isn't as bad as it is.
I have seen numbers around 97-98% loss of value since Federal Reserve was created, but 30-50x seems too little to me.
@xianc78 @niclas Dude 1929 was during the gold standard era