Let's say an age cure is released tomorrow. It will be priced specifically for a certain percentage to afford.
Hu. no. Unless you are into CT, such a cure would be available to everybody at a price the market can bear. If the material energy and engineering cost is high, then only few will get it. but if it is an easy mass marketable product ? No it won't be available only for rich. Even if it was that way in the US, in Europe or any other county somebody would reproduce the "cure" and spread it. The only way to have the scenario above is have a conspiracy and have the cure maintained "secret". fat chance of that seeing msot doctor/biologist mindset.
it will be a long and hard period (perhaps even 10 years) of adaptation
You are *severly* udnerestimating it. It is not only that greece wll have tod efault, but also that greece will still be noted as junk as far as bond goes so will not be able to borrow again at good rate EVEN after default, but also that now that greece is outside of the eurozone, it will have to either junk their own currency so far down the rabbit hole to make export / import not kill them that the inflation in the subsequent decades (note the plural) will take a long time to stabilize the economy. And once out of the eurozone , guess what ? Greece will STILL have to have cut back on cost or have extreme inflation , maybe hyper inflation and their own bank default, if they start issuing bond on their own currency and spend like no tommorow.
Greece is a warning to France or even spain, italy and other of the eurozone with ramping up debt : get your table cleaned or it might get burn down as a sanitisation process by others.
You're right, let's get ahead of the game now and make the minimum wage in LA $1,000/hr. Better yet, do it at the Federal level
You see often cited as conservative/republican mouth point. But this is an utter stupid viewpoint - why it is modded as insightful is beyond me. Interesting maybe at most.
The reason why this is stupid is as follow : when you rise minimum wage you rise slightly the living of people but you also partially rise inflation. Rise too much and the inflation will eat most of it. So the economic of it is to rise only slightly and try to minimize inflation. Rise it to 1000$ or 100000000$ and you got hyper inflation and your $ is worth as much as zimbabwe dollar. That type of stupid argument (1000$ hourly wage) by the way is the same slippery slope argument republican make for gay mariage "but then after that they will want to marry horse or multiple people or children"
the government collects 30 times as much in taxes in CONSTANT DOLLARS as they did in 1940
Bullshit the inflation from 1940 is already ~15 times. In fact looking at your next sentences:
Now, they ran a deficit in 1940 as well, but let's think about this for a minute. If $135 Billion in 1940 would have been enough to make ends meet, then how come with three times the population now, it takes $3.2 trillion?
Because 135 billion alone in 1940 is 2.2 trillion to 2.3 trillion of today in constant dollar. Any CPI calculator will confirm that baring a few % +/-. The delta of 900 million is from federal programs which did NOT exists in 1940. From environmental protection, drug enforcement, NASA, EPA, etc...etc...
He has not acquired a fortune; the fortune has acquired him. -- Bion