Inflation Data Comparison
1970 Median House $15,000
2023 $436,000 Increase 29x
Median Monthly Rent $108
2023 $2,000 Increase 20x
College [tuition only] per year $500
2023 $11,000 Increase 20x
Gasoline per gallon 0.36
2023 $3.80 Increase 10x
Median Income $9,000
2023 $56,000 Increase 6x
3.5 Children per household
2023 1.9
1970 Dual Income households 47%
2023 65%
For those of us who are
the older know this period of time very well, as compared to today economically,
it was much easier prior to 1970. We never
thought that way but when President Nixon removed the last vestige for the gold
standard in 1971 inflation took off.
Over the subsequent decades the so called official CPI numbers have been
cooked along with suppressing the price of gold and its cousin silver all to
maintain the illusion of stable prices.
Suppressing precious
metals prices is still going on but as the late Benjamin Graham stated “In the
end Mr. Market will prevail.”
DYI
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