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> Okay, so not really $200, except maybe nominally which doesn't mean much today. Well, it is real $200 - nobody said price inflation would lead to wage inflat
by bigbadfeline 7mo ago
> Okay, so not really $200, except maybe nominally which doesn't mean much today.
Well, it is real $200 - nobody said price inflation would lead to wage inflation, and it wouldn't.
> what supports $200 oil in real dollars
The only real "real" is the standard of living - when it drops with inflation, comparisons to yesteryear's melted snow don't really matter.
- 9rx 7mo ago> Well, it is real $200 Okay, but then what supports the nominal $300 or whatever value it is after inflation has also been accounted for? We haven't even figured out how a nominal $200 is supported and now you're talking even larger nominal numbers, given the assumption of inflation. > The only real "real" is the standard of living Maybe as an individual, but that has little relevance to a macro discussion.