I love this guy!
I love this guy!
Dang, I can't keep up with y'all --busy day at the market today...
Using the other .gif with the SGS index, I approximated some values for it using his graph and back figured what his index is (superimposed plot below).
The thing is, if we believe that the SGS is true inflation then we've got to say that all the other prices are plummeting. I mean, look at the prices of milk and potatoes even.
I'm wondering if John Williams would say that gold is under priced by a factor of seven these days, or would he say it was overvalued by the same amount in 1980?
