Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Haim R. Branisteanu who wrote (66147)	6/13/2007 2:00:10 PM
From: skinowski	Read Replies (3) of 116555

To sum it up the standard of leaving inched meagerly if at all over the last 25 years Agree with what you say about government and their propensity to cause mischief, but how to define a standard of living - in my mind - is a bit tricky. I know that the "hedonistic" principle has been widely and deservedly criticized, but... My income in real terms may not have kept up consistently with inflation over the years, however many things did change in the positive direction. My new car is better and safer, my 50" flat Panasonic cannot be compared to my TV of 25 years ago. Computers are better and cheaper, transportation is cheaper in real terms... The quality of the medications we take is incomparably better. My clothes are way cheaper (and what I pay for them also helps bring the Chinese people into modernity). Globalization means an improvement in the standard of living of millions of people. On a less positive note, I think that the government is acting irresponsibly by printing money. The greatest danger to our political system, imo, is not the Patriot act, but the fact that public employees are evolving into a privileged class - of sorts.

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