It's true that the precious metals markets are infinitessimal compared to the bond market. What does that really mean?
It seems to me that the government bond markets, being monetized debt and all - are only so freakin' big because they have ballooned with out-of-control government spending and are leveraged by the banking system to provide profits to some of the most undeserving and non-productive manipulators on the planet.
And this makes the investors in gold & silver "marginal". Why is that? Because they own something real and verifiable?
Q: Are You Printing Money? Bernanke: Not Literally
Maybe a huge Solar Storm will bombard Earth with cosmic particles and rays, destroy human civilization (and with it, the Fed), and make our gold and silver bars more valuable...
"if only," right? The effects of the solar storm probably won't be that bad, but we can always hope
But I will say this: I have a big box of dry ice in my garage!
When the power went out here for 3/4 of a day last fall (remember, we threw a block party out front, under the big tree, and adults drank and snacked into the evening while the children played in the street?) everyone's big concern was the food in their freezer. (I, of course, am prepared for "the big one" --in whaterver form it takes-- with far more than just compact, stored, clean-sublimating thermal energy sinks )
Thinking the S is not hittin the F is not the same thing as thinking it can't hit
Anyone else taking non-routine purposeful action today, "just in case"? semi-serious question, feel free to post jokes as well as real comments
Those who like astronomy have been viewing some really nice planetary action in the sky the past couple of weeks; Mars as close as it gets to earth, conjuctions with the waxing moon and other planets, and we've been having the clearest night skies in quite some time, with that electric blue color after sunset, you know the hue? Beautiful!
<< <i>Those who like astronomy have been viewing some really nice planetary action in the sky the past couple of weeks; Mars as close as it gets to earth, conjuctions with the waxing moon and other planets, and we've been having the clearest night skies in quite some time, with that electric blue color after sunset, you know the hue? Beautiful! >>
The sky is falling.
Natural forces of supply and demand are the best regulators on earth.
Nope, solar flare was a non-event, and the sky is still up there
Currently visiting a midwest college town in summer, being served $1 you-call-it cocktails and 25c hot wings by peppy co-eds
the only hyper- inflation in sight is some of the silicone and collagen enhancements on a some of them, and a few pup tents being pitched by middle aged businessmen.
If debt creation is good for the US currency, then the strategy seems to have worked. What an odd state of affairs.
What do you make of this, Baley? >>
I think the aggregate "economy" is much more complicated than can be expressed in a few numbers, or simplified charts (that's the cue for someone to post a chart of the national debt, or the purchasing power of a dollar bill since 1913 )
An analogy is the concept of "climate change" when the metric used is "average world temperature" or a few observations of temporary hot spells, cold snaps, or localized storms.
In short, "climate" is an abstract concept that you expect, and "weather" is the reality that you get. Same with the economy, "growth" is what you expect, and "your mileage may vary" is what an individual gets, depending on the intersection of his circumstances (the environment he's operating in), his personal choices both past and present, and the random variable of luck, being in the right or wrong place at the right or wrong time.
That must be a picture of the "1950" dollar. Today's dollar "value" is about the size of "George" by himself.....or the size of a small US postage stamp.
That must be a picture of the "1950" dollar. Today's dollar "value" is about the size of "George" by himself.....or the size of a small US postage stamp. >>
Once again, taken out of context. Our purchasing power, for the most part, has kept up with inflation along with the hourly wages. In 1955, I was making 75 cents an hour which got me a burger, coke & fries, but when I retired 8 years ago, my hourly income was equal to 7 burgers, coke & fries.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Once again, taken out of context. Our purchasing power, for the most part, has kept up with inflation along with the hourly wages. In 1955, I was making 75 cents an hour which got me a burger, coke & fries, but when I retired 8 years ago, my hourly income was equal to 7 burgers, coke & fries.
Whoa! You can't possibly mean that you were doing the same work in 2005 that you were doing in 1955. I would need more than your analogy to convince me.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>Once again, taken out of context. Our purchasing power, for the most part, has kept up with inflation along with the hourly wages. In 1955, I was making 75 cents an hour which got me a burger, coke & fries, but when I retired 8 years ago, my hourly income was equal to 7 burgers, coke & fries. >>
What context? The inflation that shrunk the purchasing power of that dollar to a postage stamp size (not stamp purchasing power....lol) had to go somewhere over the past 100 yrs. Lord knows it didn't go into the pockets of the average American. Real hourly wages have been falling since 1973....losing out to inflation for the past 40 yrs. You could buy a lot more burgers and fries for your hourly wage back in 1973 than you can today.
Cute picture, but the dollars earned in 1973 were mostly spent for burgers and fries in 1973, not 2013.
Similarly, the dollars earned in 2013 will be spent on burgers and fries in 2013, not 2053.
Compare the minimum wage in 1973 to the price of a burger and fries in 1973, and then do the same in 2013.
The ratios of hourly wage to meal cost will not be exactly the same, but it will represent the level of inflation a lot more accurately than comparing the time to earn a 1973 dollar to the cost in dollars of filling yer belly in 2013
In other words, an entry level job might require twice as many minutes to earn the burger, but it won't be 5 or 10 times increase, which the nominal dollar amount might be
<< <i>Once again, taken out of context. Our purchasing power, for the most part, has kept up with inflation along with the hourly wages. In 1955, I was making 75 cents an hour which got me a burger, coke & fries, but when I retired 8 years ago, my hourly income was equal to 7 burgers, coke & fries.
Whoa! You can't possibly mean that you were doing the same work in 2005 that you were doing in 1955. I would need more than your analogy to convince me. >>
Nope..
lets see....minimum wage in 1955 was $.75 per hour ...1973...$1.69. 2005......$5.15.
I guess you can answer your own question....who got more burger, fries and coke for their buck.
Since McDonalds wasn't widespread in 1955, we can't compare those prices easily, but I'm not so sure you can buy that much more with $5.15 now than you could with $0.75 in 1955. Besides, the fries and burgers were better (and bigger) in 1955 than in 2005.
I'm still not convinced.
Q: Are You Printing Money? Bernanke: Not Literally
Min wage has little to do with real wages. Apples and oranges. A rising minimum wage actually causes real average wages to drop....another casualty from 1973 to date.
A significant portion of the US price inflation was exported overseas during the past 50 yrs. That shows up in the amount of US money circulating overseas, our bonds purchased by foreign govts, etc. And for that trade we've been able to get cheaper Asian goods and services that we couldn't have otherwise. Thing is, someday these debts have to be repaid. And that day might come a lot quicker than we'd like. Since we could get a lot more "real" burgers and fries for our wages in 1973, I suspect we could get even more in 1955. It wasn't like 1955-1973 was a zero inflation period. Using a McD's burger probably shouldn't be the standard from 1955 to 2013. That was healthy grass fed cattle back in 1955 whereas today, the animals are anything but healthy (read The Omnivore's Dilemma). The size of the burgers and the quality of everything put on those burgers is vastly different, even the buns. We ate real food back in 1955. McD's also uses some of its burgers as price inducements to walk into the store, hence the $1 burger and $1 fries. I used 1973 as my base since that is when real average wages stopped rising. Coincidentally, that's about the same time period when money supplies starting getting juiced and international monetary standards/controls had been shelved. Considering that those average real wages are pulled up by the top 1-10% wage earners, it doesn't quite showcase the true effect on the lower 50%.
It is a cute picture after all. The fact that we as a nation "need" an average of 2-3% price inflation year after year to somehow "grow" the econonmy makes no sense to me. If growing government/GDP is the same thing, then by all means, let's continue to grow the govt by 3% per year. M2 has been increasing an average of 8-10% per year since 1995. There has to be an ultimate cost for that....even if that McD's $1 Burger remains at the same price. I wonder if having $1 Quad in derivatives somehow balances everything out...lol.
The size of the burgers and the quality of everything put on those burgers is vastly different, even the buns. We ate real food back in 1955. McD's also uses some of its burgers as price inducements to walk into the store,
........not to mention the "pink slime" aspect of their current burger formula..........
I had been a vegetarian for the past 14 years until recently, when I decided to eat a little meat again. In my previous life, one of my favorites was a McDonald's cheeseburger. I tried one recently, and believe me - they are NOT the same.
At Christmas, I went to a family reunion in Iowa and had some real farm ham. It doesn't get much better than eating real food, which has become somewhat of a novelty these days.
Q: Are You Printing Money? Bernanke: Not Literally
Anyone buying a $1 hamburger (or any burger at McDonald's, for that matter) deserves what they get. They are NOT good!
For a fast food burger, In and Out and a place called The Habit are my favorites, the burger meal is about $7.
For Fast Casual, Fuddrucker's and Chili's are pretty good, and you're talking $10 or so for the basic meal, up to about $15 with all the fixins plus a tip
But my favorite upscale burger is 5/8 lb. grassfed midwestern beef, gourmet chedder, applewood smoked bacon, with fresh lettuce, tomato, red onion, on a baguette.
$18 and worth every cent, and that's just for the sandwich, add garlic fries and a couple boilermakers, and it's usually $50-60 all said and done.
those that want out may feel they have nowhere to go .
In practice, precious metals are truly uncharted territory for most people when they've been buying into mutual funds and retirement plans for their entire careers.
Thursday March 24, 2011 11:07 AM
Roger, willco. Over, and out.
USDX = 75.63
Gold = $1,433.90
Silver = $37.44
what are they now?
Wednesday March 12, 2014 3:12 PM
USDX = 79.59
Gold = $1,367.10
Silver = $21.22
I didn't expect the dollar to be higher now than it was 3 years ago. That much is truly puzzling to me.
However, I do expect the metals to trend up and down. Silver's lower than I would have expected, but it now represents a pretty good entry point in my opinion.
I don't see any change in any of the important variables that would make me think twice about the metals as a longterm savings & investment strategy.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>Just think, you could have had a Model T for about $14,000 in today's dollars >>
Your remark prompted a bit of research. The model T was priced at about $825 in 1913. It dropped to $260 in 1924. I wonder if Ben Bernanke's great grandfather, Isadore Bernanke was frantically printing horse blanket notes to fight off the wretched deflation that this efficiently produced car was creating?
I can't see that happening in the next few years when it's (primarily) valued against other currencies that are in as bad a shape or worse. The full faith and credit of the U.S. Gov't will keep it supported for several more years at least. This is not a joke folks because eventually it will happen, it's likely to be a decade away though.
1914, Henry Ford raised his hourly employee salaries to $5 a day, with no withholdings or income taxes of any consequence. With that $5 he could purchase 20 pounds of Ham which today would cost $9lb or $180.
Let us consider that ham for a moment. Truly farm raised with absolutely no antibiotics, growth hormones or saline injections at retail. Same goes for the bread and potatoes and every other food that you noted.
Times were not easy 100 years ago, but the food supply was far superior. Pull up some images from Coney Island during that era and you will not see the lumpy, bumpy bodies that result from our modern food production.
1914, Henry Ford raised his hourly employee salaries to $5 a day, with no withholdings or income taxes of any consequence. With that $5 he could purchase 20 pounds of Ham which today would cost $9lb or $180.
Let us consider that ham for a moment. Truly farm raised with absolutely no antibiotics, growth hormones or saline injections at retail. Same goes for the bread and potatoes and every other food that you noted.
Times were not easy 100 years ago, but the food supply was far superior. Pull up some images from Coney Island during that era and you will not see the lumpy, bumpy bodies that result from our modern food production. >>
Not sure how you arrived at your total cost of $180 with ham costing $2.70 a lb today...In my calculations it would cost less than $60, or about 3 hrs of wages instead of 1 days pay in 1913.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Ham is at least $9/lb if one is buying it in half pound packs, ready sliced in the gourmet cold cuts area of your local Whole foods. Still a bargain in terms of how much work time is required to earn the money to buy some, verus yesteryear.
Of course, today's "the good old days" were "the bad new days" when then were new... just like today
in 101 years, people will be saying how good we had it in 2014, and how in 2114 "there's no figuring out kids these days, with their crazy hair and music"
<< <i>Ham is at least $9/lb if one is buying it in half pound packs, ready sliced in the gourmet cold cuts area of your local Whole foods. Still a bargain in terms of how much work time is required to earn the money to buy some, verus yesteryear.
Of course, today's "the good old days" were "the bad new days" when then were new... just like today
in 101 years, people will be saying how good we had it in 2014, and how in 2114 "there's no figuring out kids these days, with their crazy hair and music"
grumble grumble >>
I think we can count out the "crazy hair" in 2114. It will be determined by the UNUC (United Nations Union of Climatologists) that the upkeep of crazy hair to be a contributor to climate change. So in the future everyone will be genetically bald.
Comments
And besides all that, things aren't lookin' that good.
I knew it would happen.
<< <i>"Extra, Extra, read all about it! US economy likely to collapse, end of entire Earth possible, read all about it!
(also, note the extra extra thick advertising circular in today's edition! Read ALL ABOUT IT!") >>
I'll raise you..
biggest-problem-for-gold-and-silver-doomsday-never-comes
Knowledge is the enemy of fear
alternatively, what you're gonna do if you don't even have a clip of 30 or a machine to put it in?
Added - well, THAT was stupid. I was responding to a post on the 1st page....
I knew it would happen.
It's true that the precious metals markets are infinitessimal compared to the bond market. What does that really mean?
It seems to me that the government bond markets, being monetized debt and all - are only so freakin' big because they have ballooned with out-of-control government spending and are leveraged by the banking system to provide profits to some of the most undeserving and non-productive manipulators on the planet.
And this makes the investors in gold & silver "marginal". Why is that? Because they own something real and verifiable?
I knew it would happen.
"if only," right? The effects of the solar storm probably won't be that bad, but we can always hope
Liberty: Parent of Science & Industry
I knew it would happen.
Liberty: Parent of Science & Industry
When the power went out here for 3/4 of a day last fall (remember, we threw a block party out front, under the big tree, and adults drank and snacked into the evening while the children played in the street?) everyone's big concern was the food in their freezer. (I, of course, am prepared for "the big one" --in whaterver form it takes-- with far more than just compact, stored, clean-sublimating thermal energy sinks
Thinking the S is not hittin the F is not the same thing as thinking it can't hit
Anyone else taking non-routine purposeful action today, "just in case"? semi-serious question, feel free to post jokes as well as real comments
Liberty: Parent of Science & Industry
Knowledge is the enemy of fear
Liberty: Parent of Science & Industry
<< <i>Those who like astronomy have been viewing some really nice planetary action in the sky the past couple of weeks; Mars as close as it gets to earth, conjuctions with the waxing moon and other planets, and we've been having the clearest night skies in quite some time, with that electric blue color after sunset, you know the hue? Beautiful! >>
The sky is falling.
Natural forces of supply and demand are the best regulators on earth.
K
Currently visiting a midwest college town in summer, being served $1 you-call-it cocktails and 25c hot wings by peppy co-eds
the only hyper- inflation in sight is some of the silicone and collagen enhancements on a some of them, and a few pup tents being pitched by middle aged businessmen.
Liberty: Parent of Science & Industry
Knowledge is the enemy of fear
Liberty: Parent of Science & Industry
<< <i>Roger, willco. Over, and out.
USDX = 75.63
Gold = $1,433.90
Silver = $37.44 >>
time for an update: where do those numbers stand today?
Liberty: Parent of Science & Industry
Gold = $1,645.30
Silver = $29.74
If debt creation is good for the US currency, then the strategy seems to have worked. What an odd state of affairs.
What do you make of this, Baley?
I knew it would happen.
Gold: 1,645.30/1,433.90 +15%
Silver: 29.74/37.44 -21%
Let me make a stab at it. Declining industrial activity, serious deterioration in European currencies, continued money creation at Fed Central.
I knew it would happen.
<< <i>USD = 80.62
Gold = $1,645.30
Silver = $29.74
If debt creation is good for the US currency, then the strategy seems to have worked. What an odd state of affairs.
What do you make of this, Baley? >>
I think the aggregate "economy" is much more complicated than can be expressed in a few numbers, or simplified charts (that's the cue for someone to post a chart of the national debt, or the purchasing power of a dollar bill since 1913
An analogy is the concept of "climate change" when the metric used is "average world temperature" or a few observations of temporary hot spells, cold snaps, or localized storms.
In short, "climate" is an abstract concept that you expect, and "weather" is the reality that you get. Same with the economy, "growth" is what you expect, and "your mileage may vary" is what an individual gets, depending on the intersection of his circumstances (the environment he's operating in), his personal choices both past and present, and the random variable of luck, being in the right or wrong place at the right or wrong time.
Liberty: Parent of Science & Industry
Natural forces of supply and demand are the best regulators on earth.
<< <i>Pictures tell a better story.
That must be a picture of the "1950" dollar. Today's dollar "value" is about the size of "George" by himself.....or the size of a small US postage stamp.
<< <i>
<< <i>Pictures tell a better story.
That must be a picture of the "1950" dollar. Today's dollar "value" is about the size of "George" by himself.....or the size of a small US postage stamp. >>
Once again, taken out of context. Our purchasing power, for the most part, has kept up with inflation along with the hourly wages. In 1955, I was making 75 cents an hour which got me a burger, coke & fries, but when I retired 8 years ago, my hourly income was equal to 7 burgers, coke & fries.
Whoa! You can't possibly mean that you were doing the same work in 2005 that you were doing in 1955. I would need more than your analogy to convince me.
I knew it would happen.
<< <i>Once again, taken out of context. Our purchasing power, for the most part, has kept up with inflation along with the hourly wages. In 1955, I was making 75 cents an hour which got me a burger, coke & fries, but when I retired 8 years ago, my hourly income was equal to 7 burgers, coke & fries. >>
What context? The inflation that shrunk the purchasing power of that dollar to a postage stamp size (not stamp purchasing power....lol) had to go somewhere over the past 100 yrs. Lord knows it didn't go into the pockets of the average American. Real hourly wages have been falling since 1973....losing out to inflation for the past 40 yrs. You could buy a lot more burgers and fries for your hourly wage back in 1973 than you can today.
<< <i>You could buy a lot more burgers and fries for your hourly wage back in 1973 than you can today. >>
I quoted 1955 not 73.
Similarly, the dollars earned in 2013 will be spent on burgers and fries in 2013, not 2053.
Compare the minimum wage in 1973 to the price of a burger and fries in 1973, and then do the same in 2013.
The ratios of hourly wage to meal cost will not be exactly the same, but it will represent the level of inflation a lot more accurately than comparing the time to earn a 1973 dollar to the cost in dollars of filling yer belly in 2013
In other words, an entry level job might require twice as many minutes to earn the burger, but it won't be 5 or 10 times increase, which the nominal dollar amount might be
Liberty: Parent of Science & Industry
<< <i>Once again, taken out of context. Our purchasing power, for the most part, has kept up with inflation along with the hourly wages. In 1955, I was making 75 cents an hour which got me a burger, coke & fries, but when I retired 8 years ago, my hourly income was equal to 7 burgers, coke & fries.
Whoa! You can't possibly mean that you were doing the same work in 2005 that you were doing in 1955. I would need more than your analogy to convince me. >>
Nope..
lets see....minimum wage in 1955 was $.75 per hour ...1973...$1.69. 2005......$5.15.
I guess you can answer your own question....who got more burger, fries and coke for their buck.
link to minim. wage chart
I'm still not convinced.
I knew it would happen.
A significant portion of the US price inflation was exported overseas during the past 50 yrs. That shows up in the amount of US money circulating overseas, our
bonds purchased by foreign govts, etc. And for that trade we've been able to get cheaper Asian goods and services that we couldn't have otherwise. Thing is, someday these
debts have to be repaid. And that day might come a lot quicker than we'd like. Since we could get a lot more "real" burgers and fries for our wages in 1973, I suspect we
could get even more in 1955. It wasn't like 1955-1973 was a zero inflation period. Using a McD's burger probably shouldn't be the standard from 1955 to 2013. That was
healthy grass fed cattle back in 1955 whereas today, the animals are anything but healthy (read The Omnivore's Dilemma). The size of the burgers and the quality of everything
put on those burgers is vastly different, even the buns. We ate real food back in 1955. McD's also uses some of its burgers as price inducements to walk into the store, hence the
$1 burger and $1 fries. I used 1973 as my base since that is when real average wages stopped rising. Coincidentally, that's about the same time period when money supplies
starting getting juiced and international monetary standards/controls had been shelved. Considering that those average real wages are pulled up by the top 1-10% wage earners,
it doesn't quite showcase the true effect on the lower 50%.
It is a cute picture after all. The fact that we as a nation "need" an average of 2-3% price inflation year after year to somehow "grow" the econonmy makes no sense to me. If
growing government/GDP is the same thing, then by all means, let's continue to grow the govt by 3% per year. M2 has been increasing an average of 8-10% per year since 1995.
There has to be an ultimate cost for that....even if that McD's $1 Burger remains at the same price. I wonder if having $1 Quad in derivatives somehow balances everything out...lol.
........not to mention the "pink slime" aspect of their current burger formula..........
I had been a vegetarian for the past 14 years until recently, when I decided to eat a little meat again. In my previous life, one of my favorites was a McDonald's cheeseburger. I tried one recently, and believe me - they are NOT the same.
At Christmas, I went to a family reunion in Iowa and had some real farm ham. It doesn't get much better than eating real food, which has become somewhat of a novelty these days.
I knew it would happen.
For a fast food burger, In and Out and a place called The Habit are my favorites, the burger meal is about $7.
For Fast Casual, Fuddrucker's and Chili's are pretty good, and you're talking $10 or so for the basic meal, up to about $15 with all the fixins plus a tip
But my favorite upscale burger is 5/8 lb. grassfed midwestern beef, gourmet chedder, applewood smoked bacon, with fresh lettuce, tomato, red onion, on a baguette.
$18 and worth every cent, and that's just for the sandwich, add garlic fries and a couple boilermakers, and it's usually $50-60 all said and done.
Liberty: Parent of Science & Industry
Roger, willco. Over, and out.
USDX = 75.63
Gold = $1,433.90
Silver = $37.44
what are they now?
Liberty: Parent of Science & Industry
USDX = 79.59
Gold = $1,367.10
Silver = $21.22
Liberty: Parent of Science & Industry
Richard Russell Says The Dollar Will Crash In A Matter Of Months
Natural forces of supply and demand are the best regulators on earth.
Derry , the dollar is only worth 3% of its value in 1913. The crash has been and gone where were you ?
<< <i>Derry , the dollar is only worth 3% of its value in 1913. The crash has been and gone where were you ?
Enjoying more income each year.
A crash results in no one wanting your dollars.
Natural forces of supply and demand are the best regulators on earth.
<< <i>
<< <i>Derry , the dollar is only worth 3% of its value in 1913. The crash has been and gone where were you ?
Enjoying more income each year.
A crash results in no one wanting your dollars. >>
those that want out may feel they have nowhere to go .
In practice, precious metals are truly uncharted territory for most people when they've been buying into mutual funds and retirement plans for their entire careers.
Thursday March 24, 2011 11:07 AM
Roger, willco. Over, and out.
USDX = 75.63
Gold = $1,433.90
Silver = $37.44
what are they now?
Wednesday March 12, 2014 3:12 PM
USDX = 79.59
Gold = $1,367.10
Silver = $21.22
I didn't expect the dollar to be higher now than it was 3 years ago. That much is truly puzzling to me.
However, I do expect the metals to trend up and down. Silver's lower than I would have expected, but it now represents a pretty good entry point in my opinion.
I don't see any change in any of the important variables that would make me think twice about the metals as a longterm savings & investment strategy.
I knew it would happen.
<< <i>Derry , the dollar is only worth 3% of its value in 1913. The crash has been and gone where were you ?
1% would be a better estimate. Lunch or a movie could be had for a nickel back then. Loaf of bread was a couple of cents.
Of course Baley's barber was charging him the same two bits.
<< <i>
<< <i>Derry , the dollar is only worth 3% of its value in 1913. The crash has been and gone where were you ?
1% would be a better estimate. Lunch or a movie could be had for a nickel back then. Loaf of bread was a couple of cents.
Of course Baley's barber was charging him the same two bits.
Just think, you could have had a Model T for about $14,000 in today's dollars.
<< <i>Just think, you could have had a Model T for about $14,000 in today's dollars >>
Your remark prompted a bit of research. The model T was priced at about $825 in 1913. It dropped to $260 in 1924. I wonder if Ben Bernanke's great grandfather, Isadore Bernanke was frantically printing horse blanket notes to fight off the wretched deflation that this efficiently produced car was creating?
<< <i>Here's a bold prediction for ya:
Richard Russell Says The Dollar Will Crash In A Matter Of Months >>
I can't see that happening in the next few years when it's (primarily) valued against other currencies that are in as bad a shape or worse. The full faith and credit of the U.S. Gov't will keep it supported for several more years at least. This is not a joke folks because eventually it will happen, it's likely to be a decade away though.
In a matter of months I see this guy rehashing the same nonsense.
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>Derry , the dollar is only worth 3% of its value in 1913. The crash has been and gone where were you ?
1% would be a better estimate. Lunch or a movie could be had for a nickel back then. Loaf of bread was a couple of cents.
Of course Baley's barber was charging him the same two bits.
Just think, you could have had a Model T for about $14,000 in today's dollars.
Imagine the price of a new car today if it had all the creature comforts of that Model T. What would it cost? $5000?
Knowledge is the enemy of fear
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
<< <i>
<< <i>
<< <i>
<< <i>Derry , the dollar is only worth 3% of its value in 1913. The crash has been and gone where were you ?
1% would be a better estimate. Lunch or a movie could be had for a nickel back then. Loaf of bread was a couple of cents.
Of course Baley's barber was charging him the same two bits.
Just think, you could have had a Model T for about $14,000 in today's dollars.
Imagine the price of a new car today if it had all the creature comforts of that Model T. What would it cost? $5000? >>
In 1913, a three minute coast to coast telephone call cost $22.20. That's about $450.00 in 2014 dollars. Oh, yes ... the "good old days."
More price comparisons
Item Average price (dollars)
January 1913 .................... January 2013
Bread
$0.056 .............................. $1.422
Flour
0.033 0.524
Fresh milk, per gallon(1)
0.089/quart (or 0.356/gallon) 3.526
Cheese
0.222 ................................ 5.832
Butter(2)
0.409 ................................ 3.501
Coffee
0.299 ................................ 5.902
Potatoes
0.016 ............................... 0.627
Rice
0.086 ................................ 0.715
Sirloin steak
0.238 ................................ 5.705
Round steak
0.205 ............................... 5.074
Chuck roast
0.149 ............................... 3.696
Pork chops
0.187 ................................ 3.465
Bacon
0.254 ............................... 4.407
Ham
0.251 ................................ 2.693
Eggs, per dozen
0.373 ............................... 1.933
Sugar
0.058 ............................... 0.683
As a whole, food prices were not cheaper in 1913 when you take into account inflation adjustment.
Bureau of Labor stats
0.251 ................................ 2.693""
1914, Henry Ford raised his hourly employee salaries to $5 a day, with no withholdings or income taxes of any consequence. With that $5 he could purchase 20 pounds of Ham which today would cost $9lb or $180.
Let us consider that ham for a moment. Truly farm raised with absolutely no antibiotics, growth hormones or saline injections at retail. Same goes for the bread and potatoes and every other food that you noted.
Times were not easy 100 years ago, but the food supply was far superior. Pull up some images from Coney Island during that era and you will not see the lumpy, bumpy bodies that result from our modern food production.
<< <i>""Ham
0.251 ................................ 2.693""
1914, Henry Ford raised his hourly employee salaries to $5 a day, with no withholdings or income taxes of any consequence. With that $5 he could purchase 20 pounds of Ham which today would cost $9lb or $180.
Let us consider that ham for a moment. Truly farm raised with absolutely no antibiotics, growth hormones or saline injections at retail. Same goes for the bread and potatoes and every other food that you noted.
Times were not easy 100 years ago, but the food supply was far superior. Pull up some images from Coney Island during that era and you will not see the lumpy, bumpy bodies that result from our modern food production. >>
Not sure how you arrived at your total cost of $180 with ham costing $2.70 a lb today...In my calculations it would cost less than $60, or about 3 hrs of wages instead of 1 days pay in 1913.
Still a bargain in terms of how much work time is required to earn the money to buy some, verus yesteryear.
Of course, today's "the good old days" were "the bad new days" when then were new... just like today
in 101 years, people will be saying how good we had it in 2014, and how in 2114 "there's no figuring out kids these days, with their crazy hair and music"
grumble grumble
Liberty: Parent of Science & Industry
<< <i>Ham is at least $9/lb if one is buying it in half pound packs, ready sliced in the gourmet cold cuts area of your local Whole foods.
Still a bargain in terms of how much work time is required to earn the money to buy some, verus yesteryear.
Of course, today's "the good old days" were "the bad new days" when then were new... just like today
in 101 years, people will be saying how good we had it in 2014, and how in 2114 "there's no figuring out kids these days, with their crazy hair and music"
grumble grumble >>
I think we can count out the "crazy hair" in 2114. It will be determined by the UNUC (United Nations Union of Climatologists) that the upkeep of crazy hair to be a contributor to climate change. So in the future everyone will be genetically bald.