[Hegewisch Dupa]

I have 18 cents - cool, it’s worth a dollar

[allmost]

bump

[Responsibility2nd]

$1.00 in 2009 had about the same buying power as $0.08 in 1930.

Annual inflation over this period was about 3.22%.

Calculator..... http://www.dollartimes.com/calculators/inflation.htm

[rwfromkansas]

A dollar is still a dollar. It’s only 18 cents in comparison to the 1970s.

[screaminsunshine]

How about. Slash the Government Bust the Unions and fire a bunch of pesky buerocrats.

[surfer]

great article thanks...

[mysterio]

Perhaps if we stopped printing tons of cash, that might help.

[KarlInOhio]

When Roosevelt issued his infamous 1933 presidential diktat, forcing delivery (confiscation) of gold owned by private citizens to the government in exchange for compensation, gold was $20.67/oz. In January 1934, the price was raised to $35/oz and the U.S. government pocketed the difference - and essentially devalued the dollar by 69%.

Sloppy math. The dollar went from being worth 0.0484 oz. of gold to 0.0286 oz., or a drop of 0.0198 oz. 0.0198 drop/0.0484 original value = 40.9% drop in value.

Also I wouldn't count the $35/ounce value in 1971 as real. We weren't freely exchanging gold at that rate. The real market rate was higher, climbing from $37.87 to $43.48 over the year. http://66.38.218.33/scripts/hist_charts/yearly_graphs.plx

[beethovenfan]

Soon to be produced in perforated rolls - for wiping your Obama.

[Larry Lucido]

I also make more than I did in 1970. Over 500% more, in fact.

[Antoninus]

That’s why I’m turning a lot of dollars into little round circular pieces of silver these days.

[Larry Lucido]

The key is, what is the ratio of a unit of work to a unit of stuff? I work fewer hours to make the payment on my 2006 Ford Five Hundred with power windows, stereo and a/c than I did to make the payment on my 1979 Ford Fairmont with no radio, crank windows and no a/c.

I work fewer hours to pay for a McDonald’s double cheeseburger today than I worked to pay for a regular hamburger back then.

And I work fewer hours to pay for a Pentium 4 computer today than I would have for a Texas Instruments 4-function calculator in 1973.