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And that was when $100 was an equivalent of 3 ounces of gold which is about $4k today. Barrel of oil and S&P500 had roughly the same price in gold then as they
by cwaniak 13y ago
And that was when $100 was an equivalent of 3 ounces of gold which is about $4k today. Barrel of oil and S&P500 had roughly the same price in gold then as they do today.
- vinceguidry 13y agoBoth gold and oil are poor inflation metrics as their prices are fairly volatile, albeit for different reasons. Also, it's not like Bukowski was investing his monthly Franklin in commodities. This website suggests $656 as a more realistic figure. Enough to survive on while working furiously on your writing. http://www.dollartimes.com/calculators/inflation.htm http://www.dollartimes.com/calculators/inflation.htm
- dredmorbius 13y agoBy CPI deflator, $100 in 1969 is worth $634.76 today. http://www.usinflationcalculator.com/ http://www.usinflationcalculator.com/ Not sure if that calls into question your statement, or suggests that the CPI is drastically understating inflation.
- cwaniak 13y agoBy CPI deflator we never doubled our (US) monetary base since 2007.
- dredmorbius 13y agoI'm not following you. What's your point?
- cwaniak 13y agoWhat exactly you don't follow? You need me to define 'monetary base' to you? You need me to explain to you how to use google/wiki?