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In 1918 you could buy a cow with a $20 gold piece.
In 2018 you can buy a cow with that same gold piece.
A $20 federal reserve note wil get you 4 pounds of hamburg.
I'm baffled by this chain of statements.
It seems like you're comparing the inflation adjusted price of a whole cow to the static 2018 purchasing power of a $20 note, completely ignoring that a $20 note bought a lot more in 1918 than it does today. Gold might be higher priced than inflation adjustment over that period (I have no idea) but you unless I'm missing something I don't get where you're going with the $20 bill versus $20 cow thing.
When the rates eventually drop back down to where my current mortgage rate is, I will refinance to purchase a second home using the equity I have. Until then, I'll continue to toss the daily refinance letters I get in the mail.
In 1918 you could buy a cow with a $20 gold piece.
In 2018 you can buy a cow with that same gold piece.
A $20 federal reserve note wil get you 4 pounds of hamburg.
Inflation is a tax. This fact used to be taught in Econ classes.
It is no longer PC to teach facts. Kids are taught to validate their emotions.
LOL. Yes, the sky is falling
What, you are probably 65-70 yrs old? You have no idea what’s currently being taught in either K-12 or College.
It seems like you're comparing the inflation adjusted price of a whole cow to the static 2018 purchasing power of a $20 note, completely ignoring that a $20 note bought a lot more in 1918 than it does today. Gold might be higher priced than inflation adjustment over that period (I have no idea) but you unless I'm missing something I don't get where you're going with the $20 bill versus $20 cow thing.
His or her understanding of economics was forged when facts were facts. In these dark ages of validating our emotions, we can’t wrap our minds around these nearly ancient truths!!
Why just the other day, I offered a farmer a cart full of federal reserve notes, and he said “son, does it look like I need wall paper? Come back when you have some dabloons”
Last edited by Thatsright19; 10-12-2018 at 10:59 AM..
In 1918 you could buy a cow with a $20 gold piece.
In 2018 you can buy a cow with that same gold piece.
A $20 federal reserve note wil get you 4 pounds of hamburg.
Inflation is a tax. This fact used to be taught in Econ classes.
It is no longer PC to teach facts. Kids are taught to validate their emotions.
That's too narrow. Inflation is a fairly serious "tax" on savers and cash-hoarders for sure. It's also part of the mechanism that facilitates dynamic expanding economies that reward investment. A zero inflation economy would suck terribly. A deflating economy would suck even worse.
When the rates eventually drop back down to where my current mortgage rate is, I will refinance to purchase a second home using the equity I have. Until then, I'll continue to toss the daily refinance letters I get in the mail.
If your current mortgage was done between 2012-2017, that could be a very long wait. Like a lifetime or two.
I've often thought that many do not understand the concept of the time value of money.
There are online calculators you can use to show how much any amount was worth at some date in the past
I've been tempted to compare the purchase and sale prices of my last home to see how much I really gained. I gained about $250K but that neglects that I paid for it in more valuable money.
Just take this example: How rich was a millionaire in 1980? How rich is a millionaire in 2018? There is simply no comparison. Being a millionaire these days is hardly impressive. More than half of my friends are millionaires. Big deal. Not.
In 1918 you could buy a cow with a $20 gold piece.
In 2018 you can buy a cow with that same gold piece.
A $20 federal reserve note wil get you 4 pounds of hamburg.
Inflation is a tax. This fact used to be taught in Econ classes.
It is no longer PC to teach facts. Kids are taught to validate their emotions.
True, true.
But people like DT and his ilk know darn well inflation is a "tax"; hence the moves to index capital gains to adjust for same.
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