Cow and Boy Classics by Mark Leiknes for September 11, 2020
Transcript:
"Why does a house that costs $50,000 in 1970 cost $200,000 today? Why can't something be worth what it always was?" "Well, there are shifts in supply and demand, and global markets are also brought into play." "Exchange rates play pickle with currencies. More people compete for the same jobs and all of this info is fed into the Greenspanatron 5000." "Which spits out a bunch of numbery equations about money and junk 'n' stuff." "You have no idea what you're saying."
The Greenspanatron 5000 was the first Federal Reserve computer without vacuum tubes.