ToastedRavioli

joined 1 month ago
[–] [email protected] 9 points 3 hours ago* (last edited 1 hour ago) (1 children)

Our entire economic system, and the world along with it, are doomed to fail if we dont move the money that billionaires have been squatting on. All the exploitation and poverty that exists in the world can be tied to billionaires parking money that should be moving through the hands of Americans and out to the rest of the world.

Ive recently started looking into just where our money went. Although we all know the answer inherently, I suppose moreso I have been trying to more acutely visualize how it has been taken away.

The median income today is roughly equivalent to the median income of 1958, so if you are just looking at raw inflation you might think people are paid on par with the value of money in 1958. The reality is that inflation does a piss poor job of showing you the whole story.

In 1958 the median household could afford everything that was needed for a family of four and then some. The 2% richest income bracket in 1958 made only $15k or more, equating to an income of around $170k today. There was only 1 billionaire at the time, J Paul Getty, who was the richest man in the world and worth the equivalent of $12B today.

Flash forward to today, the median is at a nearly inflationary equivalent point, but appx. $75k a year is hardly enough for 1 individual to live comfortably, let alone an entire family of four. This means that 50% of all households are well below what it costs for one person to have healthy finances in 2025. It also means that the richest 2% of households in 1958 would hardly be able to afford a comfortable cost of living of a family of four in 2025 (about 170k at its cheapest).

If that isnt a ridiculous enough statistic to show you how viciously American wages have stagnated in favor of making the rich even richer, then consider this: In 1958 child laborers were paid $1 per hour, the minimum wage at the time. Assuming that child worked 40 hours in a week, they would have made a little over $2k in the year. Relative to the GDP of the united states at the time (about $480B) that would equate to making over $1M per year today. Therefore, everyone currently making less than $1M per year (pretty much everybody) has less buying power than the average 10 year old child laborer in 1958.

With this in mind, its easier to see how inflation doesnt tell the whole story. That $1 minimum wage might equate to $12 today, which is higher than the federal minimum wage, and the state minimum in about 25 states. But even if the minimum wage were brought on par with that base metric (which again was considered the appropriate wage for literal children), a person making $12 would have absolutely no buying power relative to a minimum wage earner back then.

To put it further in perspective, a household earning the median income of $5k back in the day would be the GDP-relative equivalent of making over $40M per year in 2025, even though it would be the inflationary equivalent of earning less than $75k a year.

Now, Im not an economist whatsoever. Im just a guy. And im sure there are some methodological issues with looking at wage strength relative to GDP for serious purposes. But I think doing so makes it pretty clear that we have hardly a fraction of the buying power of the average American back then. Where did all that money go? Into the bank accounts of billionaires.

Going back to Getty, the first billionaire, would have had the equivalent of an unfathomable $12B today. Elon Musk has $433B just himself. He is 36x richer than how rich Getty ever was. He is not alone up there either. In total, the US today has 812 more billionaires than we had in 1958. If we capped all wealth at $12B, or the equivalent of Getty’s wealth back then, then every billionaire in the US would still have $1B-$12B, and we could immediately move the excess $5T that they have collectively been sitting on. US worker wages could be raised to a point which meets actual cost of living. Wages around the world could finally rise in step, ending crushing poverty that plagues the globe.

Even if we pegged modern billionaires to the same level of wealth relative to GDP as Getty, who was 1/481B, then no one would be allowed to be worth over $62B today.

The wool has collectively been pulled over our eyes for nearly 100 years. We have been pushed to accept the bare minimum that they could get away with, while they stuff their pockets for no functional reason. A game of numbers that creates limitless suffering around the world for the benefit of no one. All so they can feel good looking at their estimated worth in Forbes magazine. We dont deserve this, the people of the world dont deserve this. And the whole world is gonna go tits up if we dont fix it. The existence of the 0.01% comes at the cost of the rest of humanity. The next time you cant afford child care, healthcare, or even your groceries, remember where your money is. Its in their accounts

[–] [email protected] 6 points 7 hours ago

Im surprised PBS would take the time to make anything seem more exciting than it is, considering their broadcasting is normally about as exciting as watching a wet paper bag flap in the wind. They make CSPAN look lively by comparison

[–] [email protected] 15 points 7 hours ago* (last edited 7 hours ago) (1 children)

Senator Chris Murphy, the party's top member on the DHS appropriations subcommittee, said that, "Trump's DHS is spending like drunken sailors," adding, "They cannot invent money. They cannot print money. They don't have the money to spend that they're spending," as quoted in the report.

I would question how exactly ICE alone are already $1B over budget if they have no authorization to spend money beyond their budget. Or assumedly not spend $1B beyond the budget… Hows that work?

Also, obligatory “fuck you” to the economic times for trying to not let me copy text

[–] [email protected] 23 points 7 hours ago

Sounds like it causes tonsillitis. Ive had tonsillitis twice, never had them removed, and it feels like getting stabbed in the throat every single time that you swallow. You dont realize how often you swallow until that happens

[–] [email protected] 23 points 7 hours ago (1 children)

A society goes to shit when old men start wars whose conflict they know they shall never fight in

[–] [email protected] 5 points 18 hours ago (2 children)
[–] [email protected] 6 points 1 day ago

Why would those Dutch people be so antisemitic /s

[–] [email protected] -1 points 1 day ago

Theyre selling all kinds of shit that is dangerous to American consumers. And everything that isnt is still junk that ends up in landfills. Its not willy nilly, and I very much want them banned.

They also take money away from American businesses. What exactly is the argument for why they should not be banned? Other than your vaguely libertarian outlook?

[–] [email protected] 5 points 1 day ago (2 children)

All these cheap garbage websites should be banned outright. Why do we need $1 childrens toys and kitchen utensils covered in lead paint? Or $1 fast fashion shit that will come in the wrong size anyways probably, and even if it doesnt, will probably fall apart faster than a piece of tissue paper?

Fuck these garbage websites already

 

cross-posted from: https://midwest.social/post/29825277

By popular demand, one last map to examine the absurdity of the American economy.

If you saw my map from yesterday that was up most of the day, please see the corrected version below. I done goofed hard on copying a column of state names. The original post has been corrected, but I will also post my previous two maps on this post for easy comparison.

Edit: the red map, for anyone unaware, is based on current individual state minimum wages and not the current federal minimum wage

 

cross-posted from: https://midwest.social/post/29825277

By popular demand, one last map to examine the absurdity of the American economy.

If you saw my map from yesterday that was up most of the day, please see the corrected version below. I done goofed hard on copying a column of state names. The original post has been corrected, but I will also post my previous two maps on this post for easy comparison.

Edit: the red map, for anyone unaware, is based on current individual state minimum wages and not the current federal minimum wage

 

By popular demand, one last map to examine the absurdity of the American economy.

If you saw my map from yesterday that was up most of the day, please see the corrected version below. I done goofed hard on copying a column of state names. The original post has been corrected, but I will also post my previous two maps on this post for easy comparison.

Edit: the red map, for anyone unaware, is based on current individual state minimum wages and not the current federal minimum wage

 

Edit: the corrected map is now live

Out of curiosity, I wanted to see what a reasonable federal minimum wage might look like if implemented.

Looking at historical information from a time when a single individual’s income could support a family of four, I settled at the late 1950s.

The minimum wage in 1956 was finally raised to one whole dollar, the equivalent of about $12 today by raw inflation. However, its key to remember that this was an era when women were not paid on par with men, and when children younger than 13 commonly were in the workforce.

So instead I found average wage and salary numbers for 1958. In 1958, the average among all adult male wages was $4,888, and salaried men (doctors, lawyers, etc not included) averaged $6,514. Taking the salary figure and adjusting it for inflation gives you roughly $72k, or close to $35/hr.

If the average person had anywhere near the purchasing power of an individual in 1958, then no one could be making less than $35 per hour for their labor. Effectively, to return people to that level of financial security this is what it would take, while everything would simultaneously have to remain the same price. Meaning this wage increase would necessarily have to come out of the pockets of shareholders/owners.

The map shows quite clearly that even with such a high minimum wage, it would still be unaffordable in 100% of the country on 40 hours of work per week alone.

Trickle down economics have doomed this country on a path toward economic ruin, and have pushed most people in the US to such a precarious point financially that they have no hope of living as comfortably as the average worker in 1958. The average salaried worker today earns just $61k per year, over $10k shy of what the average worker made back in the day. Meanwhile, the cost of goods and services are astronomically higher.

$1 in 1956 bought you 4 gallons of gasoline. I pay $20 for that, even though by raw inflation the dollar is worth $12 today. Although gas is highly influenced by many factors that are unstable.

~~In the late 1950s, a cheap American car cost about $14k. The equivalent of over $168k today by inflation. By average salary, an individual could buy a car within 3-4 years easily by saving intentional for it. At modern wages, this would be impos. At $72k per year it becomes about as feasible as it was back then to reach that $168k mark.~~

These rough concepts are how I landed on $35 per hour as an appropriate measure. As well as the fact that wages today are almost entirely earned by adults, considering modern labor laws and the decline of the teenage workforce.

Edit: I just did the math for funsies, and 72,800 per year is about the appropriate income to afford the median rental price in the US (about $1900 in April 2025) or just shy of the median mortgage price of about $2,100 (also April)

 

cross-posted from: https://midwest.social/post/29706766

Only semi-beautiful, but I tried

Annual cost of living data according to SmartAsset 2025 Report, except for DC which is not included in their reporting.

DC annual cost of living was estimated to be $99,424 per separate data, however it may be outdated. This would place DC as less expensive than 18 states by 2025 numbers, which is probably lower than it should be.

Minimum wage income assumes 40 hours per week by 52 weeks a year at the minimum wage rate.

 

cross-posted from: https://midwest.social/post/29706766

Only semi-beautiful, but I tried

Annual cost of living data according to SmartAsset 2025 Report, except for DC which is not included in their reporting.

DC annual cost of living was estimated to be $99,424 per separate data, however it may be outdated. This would place DC as less expensive than 18 states by 2025 numbers, which is probably lower than it should be.

Minimum wage income assumes 40 hours per week by 52 weeks a year at the minimum wage rate.

 

Only semi-beautiful, but I tried

Annual cost of living data according to SmartAsset 2025 Report, except for DC which is not included in their reporting.

DC annual cost of living was estimated to be $99,424 per separate data, however it may be outdated. This would place DC as less expensive than 18 states by 2025 numbers, which is probably lower than it should be.

Minimum wage income assumes 40 hours per week by 52 weeks a year at the minimum wage rate.

220
High Art (midwest.social)
 

Literally my favorite meme of all time

The kids called me grandpa for liking this classic

 
 

Instead of a battery, the new concept is a kind of fuel cell — which is similar to a battery but can be quickly refueled rather than recharged. In this case, the fuel is liquid sodium metal, an inexpensive and widely available commodity. The other side of the cell is just ordinary air, which serves as a source of oxygen atoms. In between, a layer of solid ceramic material serves as the electrolyte, allowing sodium ions to pass freely through, and a porous air-facing electrode helps the sodium to chemically react with oxygen and produce electricity.

In a series of experiments with a prototype device, the researchers demonstrated that this cell could carry more than three times as much energy per unit of weight as the lithium-ion batteries used in virtually all electric vehicles today.

A great deal of research has gone into developing lithium-air or sodium-air batteries over the last three decades, but it has been hard to make them fully rechargeable. “People have been aware of the energy density you could get with metal-air batteries for a very long time, and it’s been hugely attractive, but it’s just never been realized in practice,” Chiang says.

By using the same basic electrochemical concept, only making it a fuel cell instead of a battery, the researchers were able to get the advantages of the high energy density in a practical form. Unlike a battery, whose materials are assembled once and sealed in a container, with a fuel cell the energy-carrying materials go in and out.

The researchers envision that to use this system in an aircraft, fuel packs containing stacks of cells, like racks of food trays in a cafeteria, would be inserted into the fuel cells; the sodium metal inside these packs gets chemically transformed as it provides the power. A stream of its chemical byproduct is given off, and in the case of aircraft this would be emitted out the back, not unlike the exhaust from a jet engine.

But there’s a very big difference: There would be no carbon dioxide emissions. Instead the emissions, consisting of sodium oxide, would actually soak up carbon dioxide from the atmosphere. This compound would quickly combine with moisture in the air to make sodium hydroxide — a material commonly used as a drain cleaner — which readily combines with carbon dioxide to form a solid material, sodium carbonate, which in turn forms sodium bicarbonate, otherwise known as baking soda.

“There’s this natural cascade of reactions that happens when you start with sodium metal,” Chiang says. “It’s all spontaneous. We don’t have to do anything to make it happen, we just have to fly the airplane.”

As an added benefit, if the final product, the sodium bicarbonate, ends up in the ocean, it could help to de-acidify the water, countering another of the damaging effects of greenhouse gases.

Initially, the plan is to produce a brick-sized fuel cell that can deliver about 1,000 watt-hours of energy, enough to power a large drone, in order to prove the concept in a practical form that could be used for agriculture, for example. The team hopes to have such a demonstration ready within the next year

8
Blue Highways [OC] (midwest.social)
submitted 3 weeks ago* (last edited 3 weeks ago) by [email protected] to c/[email protected]
 

If you can accurately tell which of these photos are in Kansas vs Colorado then you’re truly well driven

 
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