>$1.00 at the beginning of 1900 had the same purchasing power as $5.38 at the end of 1972.
I wouldn't call 2.3% Annualized Inflation Rate "little to no."
>$1.00 at the beginning of 1990 had the same purchasing power as $1.86 at the end of 2014.
What's interesting is that in the past 25 years we have a similar AIR. 2.5%.
72-1990 may have just been an anomaly, especially if you see that 1972-1980 alone had a AIR of 8.6%. I think a lot of the gold standard weirdos are purposely being disingenuous by ignoring the big economic issues of the 70s and 80s to play up their pet theory.(war spending/war debt, oil crisis, government overspending/massive deficit spending, manufacturing leaving, savings and loan scandal, 1980s recession, etc)
If the gold standard is the only that that can bring out sub 3% inflation then you're simply wrong as we've been in the 2's since the 90's. I don't think many younger people on the internet really appreciate how crazy the 70s and 80s were. The loan my dad got on our house when I was a kid is like 3x or almost 4x my interest rate, which is insane. Clearly things have stabilized since then while we're still not on any precious metal backed currency. I think you guys are missing the forest for the trees here.
I wouldn't call 2.3% Annualized Inflation Rate "little to no."
>$1.00 at the beginning of 1990 had the same purchasing power as $1.86 at the end of 2014.
What's interesting is that in the past 25 years we have a similar AIR. 2.5%.
72-1990 may have just been an anomaly, especially if you see that 1972-1980 alone had a AIR of 8.6%. I think a lot of the gold standard weirdos are purposely being disingenuous by ignoring the big economic issues of the 70s and 80s to play up their pet theory.(war spending/war debt, oil crisis, government overspending/massive deficit spending, manufacturing leaving, savings and loan scandal, 1980s recession, etc)
If the gold standard is the only that that can bring out sub 3% inflation then you're simply wrong as we've been in the 2's since the 90's. I don't think many younger people on the internet really appreciate how crazy the 70s and 80s were. The loan my dad got on our house when I was a kid is like 3x or almost 4x my interest rate, which is insane. Clearly things have stabilized since then while we're still not on any precious metal backed currency. I think you guys are missing the forest for the trees here.
Calculator here:
http://www.moneychimp.com/articles/econ/inflation_calculator...