[RipSawyer]

""

--Boris

As I point out frequently, a dollar was defined as 1/35 of an ounce of gold...before Nixon devalued the dollar by stealth. Now gold is $400+ per ounce, meaning that every "dollar" is worth less than a dime, relative to the pre-Nixon dollar. It is not suprising, therefore, that 'things in general now cost ten to twenty times as much as they used to.'

--Boris


No, but what is surprising is that some Freepers believe the
inflation adjustment figures that say that $517.21 in 2002 had the same purchasing power as $100.00 in 1968, the year Nixon was first elected.

[waterstraat]

yep, gold is the best measure, esp in world prices. Cars, property taxes, college tuition, and houses have went up more than 5 times since 1968.

[r9etb]

No, but what is surprising is that some Freepers believe the inflation adjustment figures that say that $517.21 in 2002 had the same purchasing power as $100.00 in 1968, the year Nixon was first elected.

The best rule of thumb I've ever seen for questions like this is the price of breakfast at Denny's. The question for you is: can you get the same breakfast today for $5.17, that you got for $1.00 in 1968?

The answer is, of course, "Yes You Can."