I know. It only buys 50% more gold than it did 3 years ago.
Gold is a marketable commodity, so it isn’t a very good measure, since it can be bid up or down in dramatic fashion. It was unreasonably bid up and now it’s seeking a realistic level.
I’ve tried to think of something that would be a reasonable measure of inflation that retains its value and isn’t overly subject to wild speculation. I haven’t thought of anything yet. Do you know of anything?
It also buys 2 times as much land as 7 years ago though.
Bubble markets work that way.
Is your grocery bill just a fraction of what it was 3 years ago? How about your power bill or insurance bill?
Got a kid in college? Is your bill down there?