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Chart Of The Day: 803 Years Of Global Inflation
Spot the point in this 803 year timeline of world inflation, when the Fed was created.
The chart above comes courtesy of Jim Reid's fantastic "Journey into the Unknown" which we will dissect in much more detail shortly. For now we wanted to bring our readers attention to what is arguably the most important aspect of modern monetary times: the advent of persistent inflation, and the disappearance of deflation.
Figure 18 shows median global inflation first from 1209 (left) and then from 1900 (right). As we’ve discussed in previous notes inflation took on a totally different persona after the start of the twentieth century. The charts are again on a log scale to allow us to easily see the near exponential increase in inflation over the last 100 years or so, especially relative to what occurred before. Note that had we used average instead of median, the chart would look almost absurd given the extreme levels of hyperinflation seen in several countries over the last century. The data behind the graph is based on a full set of 24 countries where we have inflation data back to 19001. Prior to this many countries have data that goes back several decades with some back through the centuries. We have included data as and when it becomes available.
It’s not just the general trend of higher prices, it’s the fact that even single years of deflation have been increasingly hard to find globally over the last century. Figure 20 shows the same data set as used above but shows the median YoY inflation back to 1209 (left) and over the shorter period since 1800 (right).
Prior to the twentieth century years of deflation were almost as common as years of inflation. However as discussed above, this all changed over the last 100 years or so. Indeed we haven’t seen a year of deflation on this median Global YoY measure since 1933. So we’ve now had nearly 80 years without a global year on year fall in prices.
Figure 21 extends this analysis showing the percentage of countries in our sample with a negative YoY inflation print and the total number of countries in our sample each year. The number of countries in annual deflation has certainly fallen over the last 100 years and particularly since the Gold Standard link was broken in 1971. Indeed since 1987 no more than 2 countries (out of the maximum 24 in our sample) have seen deflation in any one year and in most cases one of these two countries was Japan.
So although the last 30 years has been a period where inflation was perceived to be under control across the globe, there has generally been a persistent positive bias not seen through longer-term history. The break with Gold has ensured that countries can mostly ensure they don’t have deflation by being free to conduct money creation policies.
Although the hyperinflation list perhaps isn’t 100% inclusive, the trend is absolutely beyond dispute. The 1980s and 1990s saw the vast majority of the examples of these occurrences through history. Although all these have been outside of the developed world, this region has also seen many countries with high inflation over the period and with wide divergence between countries.
Much more coming: in terms of both Reid's report, and inflation.
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i dont think ive ever really said it
but i just appreciate the FUCK out of ZH
the taste and aggregation, the original work, the entire team, the community itself as well and the superb commentary
all free to the public with open comments that do not get screened by insane nazi-esque mods &c.
here's to all of you:
CHEERS! *downs it all in one go*
and with news like what comes down the pipe every picosecond these days, you bet your ass im drinking scotch at 7am
Thank you! You just proved my girlfriend wrong when she said the other day, "No one but you drinks scotch for breakfast!"
She's right. Civilized people drink Irish for breakfast.
LOL. I never claimed to be civilized. Hell, I invest in physical gold, and you know what ol' Sleestak Munger says about that. But just for the record, I do have a cup of Twinings Irish Breakfast each morning (she's Irish and turned me on to it.) Right before I start on the Laphroaig.
Absolutely. I hope they can still do their work at the FEMA camp.
I'll drink to that. Governor, a pint for me as well! Long live ZH!
Just remember to click the ads and support the sponsors. That's what keeps the lights on.
Hang all of them and burn that shit hole to the ground.
Coincides with the industrial age, major technological advances, use of oil for energy/transportation, massive population growth enabled by the same, etc.
The industrial age started in 1913?
Where are you, in Bangladesh?
Why all the hate on Bangladesh?
lol
Not the start, but when momentum really gets moving. Connect the dots. What was the fuel for this latest ponzi run?
Post hoc, ergo propter hoc? A fallacy. There was plenty of technological advancement and population growth and industrialization prior to the mid-30s. The x-axis is logarithmic. There was almost zero inflation for 700 years until Bretton Woods. After that, on a linear scale, it's almost a vertical line that would go to the moon. Technological advancement tends to cause price declines, not price increases. And Bretton Woods allowed America to export almost all of what would have been far, far worse domestic inflation. That's all about to end. Physical gold and silver bitchez!
Another visual representation that would be telling is one showing how many years each doubling of prices took.
It would be. FYI "the Rule of 72" states that to know what the doubling period is for something, divide the rate per period, (e.g., inflation rate per year) into 72. That's how many periods it takes to double. So if real inflation averages, say, 10%, prices double in about 7 years. Very useful rule, can be applied to many phenomena easily.
Wow, I'm impressed... Rule 72.. lol You were paying attention in class.
The Rule of 72 is racist.
It's spelled RAYCESS
Which helps explain the "target" inflation rate of 2%. If prices double about every generation there is less public awareness of the problem. It becomes a built-in phenomenon and not so apparent that we're losing our shirts every 36 years.
The massive population increase as known during the last decades of the 'American' imperium over the world is required to speed up the transfer of resources from peripherical countries to 'American' countries.
'American' countries have dismantled food production capacities in many mineral rich countries (ricardian economics) in order to force them to export their mineral assets to import food.
As such, the process is turned more effective when those countries know a population boom as it will create an increase in food demand.
More people, more food demand, more urge to export mineral assets toward 'American' nations.
Purposely, it is also better when the new increased population are kept on satisfying essentials only. That way, they do not come to compete with 'American' middle class needs in resources, only with lower class needs.
More wealth is channelled to 'American' wealth through the population boom.
'Americans' also installed a health based extortion system.
More incomprehensible jargon channeled to ZH readers causing them to export their remaining derision to annoying mouse.
More readers = more derision thus ensuring more hilarity at "Chinese citizenism"
No. I was not suggesting a connection in such a manner (I actually looked up that phrase this time - lol). Rather, draw your own conclusion if you like. But, it is all connected. It also speaks volumes about what will eventually happen on the current course. Hyperinflation most likely, yes, but as a monetary experience. Deflation is what is going to happen in the physical world.
I noticed the axis thing as well. Argued another person here a week or so ago about this issue. He viewed the world as a trader would rather a scientist... caring more about relative moves instead of absolutes. I got junked alot for that one too.
"Technological advancement tends to cause price declines"
Well, yes, if you ignore the energetic cost of energy. BTUs in versus BTUs out. Welcome to the post growth world bitch.
How many BTU's are there in a bale of hay and a days worth of down home cooking, anyway?
Production increased a lot yet prices increased even faster. What does that tell you?
Population increased greatly yet money even faster. What does that tell you?
centerline, I want you to write "I will not make artarded comments on zh anymore." on the blackboard 500 times.
It tells that 'Americans' have triggered a race toward depletion of resources... They are doing great.
Come on. This crap has been going on since cavemen figured out how to use a blunt object as a weapon. Just happens to be that America was the proxy (maybe even circumstantially) for the greatest ponzi run in all of history... enabled by technology, cheap energy, etc.
'Americanism' is human nature.
One could wonder why 'Americanism' did not pop up earlier in man's history...
I will get started on that right away.
Seriously though, I never made any connection. Folks here jumping to conclusions. Makes for a lot of fun though.
I agree with what you are pointing out. What I am pointing out is while we talk about hyperinflation and how our gold is going to the moon, the real scary thing is the potential that we have long surpassed the point of sustainability in terms of social complexity given our current state of being. There is real pain coming. Just throw that inflation chart up against a historical population growth chart and you will see the similarity... with some time lag of course.
Coincides with 'Americanism' taking over the world.
It skyrockets when the world greater powers are for the most of them converted to 'Americanism'
Oh god, here we go again. Where's akak?
In engineering, medicine and science, mankind has through trial and error improved both its knowledge and outcomes, yet in the dismal science of money it has at worst regressed and at best repeated ad nauseam its mistakes. This tells me that as human beings we are still the same pathetic creatures we have always been.
The ultimate error however still awaits us and will be fulfilled when we become a cashless society. This will be heralded as a new beginning until a mega-corzine event wipes our accounts clean.
Our destruction then will be complete as we will have totally lost the connection between money and its physical embodiment (silver and gold) and we will also have lost the lessons of over 5000 years of history.
Dude, yo' account will be wiped clean each time you comment on ZH ... or talk to someone about commenting on ZH ... or think about commenting on ZH ... or think. It's coming.
Best to learn the words to "We love Big Sis...and Barry's da shiz!" to gain some credits before it's too late. ;)
What is coming is a massive population reduction.
if you feel there is not only positive correlation between fossil fuel energy and testosterone levels, but also causation.
The more we eat red meat...the more...
Massive population reduction is already happening. They tricked us into doing it to ourselves.
50 million aborted fetuses agree with you,
I used to think that was a bad thing. Election polls tell another story.
"This tells me that as human beings we are still the same pathetic creatures we have always been."
Specifically, pathetic dupes all to willing to buy the snake oil sold by any jackass who's never held a real job but has Ph.D attached to his name. If people were only buying less snake oil and more tar and feathers, we wouldn't be in such a mess. With schools that do little more than teach kids NOT to question authority, is it any wonder that most of our fellow citizens, er consumers, thought Ron Paul's ideas were antiquated? Fucking sheeple make me sick.
Directly from the "Protocols of the Learned Elders of Zion". Find a copy and read it. Much of the plan set forth therein is now history. The rest is currently in progress. The more the Hebraic/Babylonian/Khararians try to deprecate, disparage, and disown it,.....the more it rings true.
The current tools of implememtation are progressivism/socialism/communism/Sorosianism and corporate fascism surreptitiously promulgated by the American Demoncrap Party and the advanced social/financial disease currently consuming the Europen Union.
hootowl
"The Protocols of the Elders of Zion may have been a forgery. But if it wasn't a script for the 29th century and beyond, then it was the most prophetic thing ever written." Way ahead of you on that one. First read it 40 years ago. I've watched the script unfold before my eyes.
**Specifically, pathetic dupes all to willing to buy the snake oil sold by any jackass who's never held a real job but has Ph.D attached to his name.**
Just wanted to take this opportunity to say F U to all you economics professionals who are reading this and yet know that you are deceiving others but still keep going. The hottest place in hell are waiting.
In the science of money and economics, the Fed has bought up key academics at gate keeping institutions like journals to stifle dissent:
http://www.huffingtonpost.com/2009/09/07/priceless-how-the-federal_n_278...
The Mises institute is still an island of sanity in the world of economics.
Thank God the Fed saved us from the barbarous times of price discovery, real value, accountability on the sovereign's part, store of labor, a simple global trade balance mechanism, and generational accumulation of wealth. I mean, who needs any of that when we have SNAP cards and iPads.
We found the real hockey stick graph !!!
Yep. Conclusive proof that the temperature sensors selected by the AGW nutters were those co-located with central bank printers.
The Feds mandate "stable prices"
Well that chart just shows how they are criminal, fraudulent, corrupt and completely and utterly and deliberately telling great big fat LIES!
If all you have is a hammer - everything looks like a nail. What about the fact that the use of fossil fuels happened at the time inflation took off?
If anything, that should have caused deflation not inflation. Why would the price of corn rise when you trade your horse for a tractor and produce 10 times more than you could. Or 100 times more. Prices should have fallen with all of those advances in production efficiency. At least until peak oil. The only way you would see inflation is if population grew faster than your ability to produce, and that hasn't happened......we'd have 100 billion people on the planet.
Yes but the population, aka demand has risen with the increased production. Need to over lay a population graph on top of the above inflation graph.
But with increasing population also came increasing PRODUCTION, and the ability to produce has clearly more than offset the increase in demand (due to technological growth, or "worker productivity" i.e. output per laborer/consumer.) A general rise in prices over time has nothing to do with population growth and everything to do with MONEY growth. Prices are proportional to the money supply, not the population.
Now you have done it, you have opened Pandora's box....
How about population growth?
Industrial productivity?
Etc Etc..
That graph kinda looks like Al Gore's "hockey stick".....
Ironic analogy. The argument that the topic of discussion (in this case inflation, in Gore's case, polution) was the effect of a growth in industrial output and population is EXACTLY the "reasoning" that went into Gore's Hockey Stick.
And "industrial productivity" is a measure of output per worker per time unit, i.e., which when increased translates to an increase in supply, so it reduces prices. Technological advancements have the same effect. Despite the enormous increase in quantity of TVs demanded, their price has dropped like a stone, as have prices for millions of products.
When too much money chases too few goods (or fewer relative to the increase in the money supply), prices in general rise, or at least rise more than they would have absent the increase in money.
the industrial revolution started the fossil fuel and demographic climb; from around 1800...the money followed technology and Waterloo power balance.
Its interesting the chart begins in 1209...five years after Venice took over Constantinople from the Papamobile brigade; a bit like Mutti has done today. It made the Venetian silver Grosso the money of the Mediterranean; front runner to ducat/mark and florin. Monetary power always follows military power and/or technological prowess.
Is the Euro the Grosso of tomorrow's world coming out of this crazy spiral? Crazier things have happened! Upside down reasoning in a topsy-turvy world, 'cos the EU is NOT a military power; that's the bottom line...Mutti has a problem, no nukes to sanctify her Euro dreams! Does she have a sustainable technological advantage instead?
Think back to 1200...who would have thought that the Byzantine empire would collapse so fast, that Venice and Florence would rise out of nowhere, only to fall to the Germans, French and Spanish. The wheel turns.
"East is east, and west is west, and never the twain shall meet."
-- Rudyard Kipling
he stopped singing that rule britannia song when he lost his son in the madness of the first world war. It changed his attitude to empires.
If east were truly east and west west, Marco Polo would never had gained world recognition.
Why? Cos silk is silk in both east and west! Just like gold, just like E=MC2 and Federer's forehand is the watermark of excellence.
Keep yar eye on the ball!
No, Kipling never disavowed that. Much the opposite, because the next two lines were:
"But there is neither East nor West, Border, nor Breed, nor Birth,
When two strong men stand face to face, though they come from the ends of the earth!"
You missed the "point", thus further proving it. Heh.
just goes to show selective quoting is a two edged sword. Kipling loved using both edges, but all his life he had a penchant for "my country right or wrong".
In the long history of man the ultimate choice IMO is between Logic of power and logic of reason. These two trends in society have often been antagonistic : Socrates and Thucydides. Its the true time line of western civilization : Galileo and the Inquisition!
Eitther you are ultimately for "golden rule" and "free will" or you are for "manifest destiny" and "reason of state".
Eternal debate when the chips come down. Kipling realised that contradiction in Man's history, but made his reputation as singer of Pax Britannica's Odyssey. Like Homer he was admiring the TRojans but lauding the Greeks, his own people and wishing they would wake up again to repeat the feats of the old heroes.
As Alexander said : "I can't lose, with a father like Philip and a teacher like Aristotle.' He was slap bang in the middle of both those two logics. His destiny!
Kipling's greatest poem, imo, is "IF : ‘If’ by Rudyard Kipling (1865-1936) | Symphony of Love's Blog: Home of Love, Peace & Inspiration
If you ever visit the Wimbledon Center COurt you have a quote from it which sums up well the two faces of man :
If you can meet with Triumph and Disaster
And treat those two imposters just the same;
and this :
Yours is the Earth and everything that’s in it,
And – which is more – you’ll be a Man, my son!
Some poetry!
Very good point.
Yes fossil fuel use caused growth which is what these charts actually show. Growth in resource use leads to growth in the money supply. Decrease in resource use SHOULD decrease the money supply but the system is not built to deal with that.
I'll say it again...the early bird gets the worm...and gets to buy the dip in US treasuries. If this hyperinflation is still coming...then we need to make more cash just to keep up. Stop complaining and start making bank. Then use that bank to buy gold coins.
http://govttrader.blogspot.com/
Keep it simple, hold onto all your PMs, aquire more through productive assets and labor, then become a bank. The paper-ponzi monsters will blow within a few years.
I think inflation is not currently a major problem in the global economy. There is concern that bailouts of major countries can generate high inflation. Obviously, this is an ongoing risk. But there are many examples in the economic history of the world in which these processes could be controlled. I am of the opinion that there are far more pressing problems.
The sheeple can't see the forest for the trees.
I like paying less for things, ergo, deflation is a good thing! FU Bernanke....
Plot the human population over the same 803 years, you might see some similarities. Exponential equations, oh yeah, bitchez....
This is the byproduct of handing the world’s money supply over to the Jewish cartel of banking thieves. The sham of all agencies ever allowed by an ignorant electoral to impoverish the world and to redistribute wealth from middle class to Jewish bankers and yet, we sit and watch this trash destroy the global economy as they line their greedy pockets or the pockets of their tribesman. Exactly what happened in Weimar Germany and the world has learned nothing as their greed has now gone global!
Nope. This is the result of 'Americanism' taking over the world...
So, you are a communist or just an idiot?
NYC taxi fares go up today.
MBTA (Boston Mass Transit) fares went up in July by 21%.
UK Mass Transit fares are up.
Health care costs are up.
Rent costs are up, especially in areas with high employment.
Food costs up 10-15% since 2006.
But Bernanke says, "Americans should just live their lives".
Long black markets. Americans (and everyone in the world) are living their lives, despite the paper-pushers attempts to continue to steal the value of their labor. Let me be clear, fuck the paper pushing kleptocrats.
Shizzmoney, don't forget that tuition is also up wildly and nobody will give you a job with any upward mobility unless you spend 4 years and 100k to get your stamp of approval.
P.
I believe that was once called, centuries ago, "an indulgence". You paid for papal sanctification. By mail.
Today, you buy a degree, and POOF! You're intelligent now!
California high speed rail tickets go up in 2025
I cannot argue for or against the charts since I no data is supplied to tell me their measure of inflation used.
'Americans', once again proven the world supremos.
They have done best in 236 years than all the effing bootleggers who preceded them over 500 years more...
That is efficiency.
If you look at ramping up inflation, call 'Americans', best in the field. By far.
Though having some prior experience and great performances in this regard during the War of Independence and Civil War, they haven't reached the World League just yet.
Maybe it has more to do with a worldwide inflation exposure that lacks the intensity but makes us all a little more Weimarese and Ex-Rhodesian.
Not only inflation. The Federal Reserve, a Rothschild puppet, has been used to fund ALL our WARS. I am saddened to say that all our fine sons and daughters that have died in wars, or police actions since 1913 and possibly earlier, have sacrificed their lives UNKNOWINGLY (as in LIED TO by our Congress and Presidents) for the ONE AND ONLY SLAVE DRIVER.........ROTHSCHILD. THE KING OF PONZI KINGS! he stared it all with absolutely not a PENNY!!! Its called fractional reserve banking! So the bogeyman is invisible.
>>>>>The FEDERAL RESERVE<<<<<< never in the msm spotlight for a reason. It's our top-secret enemy.
Do you really believe a dark-skinned 13 yr old boy wearing a faded van halen t-shirt and holding an ak-47 is the enemy? You have been duped by msm, also owned by YOU KNOW WHO!!
Greece Exits Euro - USD Rallies - Gold Price Breaks Down http://chartistfriendfrompittsburgh.blogspot.com/2012/09/greece-exits-eu...
Singapore prices are staggering and the millions of SE Asians coming to spend money here is also amazing. Every time I come back to the US it seems sleepier and sleepier.
I think that's fair, GetZee. It's ok to protect yourself from and even profit off this obvious trend. But if you care about having the moral high-ground then you're obligated to fight against it all the way.
"you're obligated to fight against it all the way."
Constitutional type language. People are too stupid to understand such things with moral hazard at an all-time high and greed and corruption being the status quo.
but yes, those with the means to fight tyranny (banks and financial houses) are obligated by the constitution to do so. Long live ZH.
I like the cut of your jib!
http://avalon.law.yale.edu/18th_century/bank-tj.asp
http://avalon.law.yale.edu/19th_century/ajveto01.asp
I believe that the stuff going on now will eventually hurt everyone in the USA, even the very rich and the people who are doing it.
They won't like the world they created. It will be more like 'chao ab ordo.'
This article leaves out person inflation/deflation, which occurs when governments "print" people or remove them from circulation.
P0 is the persontary base. it includes only the core measure of fiat-persons, namely, corporations
P1 includes P0 plus natural persons employed by, or otherwise doing business with, corporations. P1/P0 yields the "person multiplier".
P2 includes P1 plus natural persons not yet employed by or doing business with corporations. (P3 includes P2 plus natural persons expected to be issued in the next 9 months; BLS no longer publishes its measure of P3)
reduction in P1 is one means of generating price inflation, as diminishing numbers of persons can aggregate larger amounts of the available money stock and thereby flow it competitively in greater quantities.
If the Federal Reserve is not abolished Rothschild will be completing his jig-saw puzzle of world control. Iran....Sudan....North Korea...all that's left.
From 1200 up until the 1600s Europe operated under a tally system where tallies were issued by the government as money and had no interest attached to them. This resulted in almost no inflation, far less poverty than we know it today and 500 years without recesssions or depressions. This golden age lasted 500 years until the evil banksters financed Oliver Cromwell. Since that time it has been steadily downhill and here is the chart to show how stupid we have been by giving the banksters the right to create our money.
It's amazing how the moment the USD became a fiat currency, the chart goes ballistic.
"Far less poverty than we know today"??
I'm as anti-Fed, pro-PM as anyone, but that's just horseshit. If you were alive in 1200-1600AD; AND you lived under some form of government that featured laws & written regulations (am not talking about New Guinea or Amazon or African tribesmen), etc; AND you were poor....you were *seriously* fuckin' _poor_. "Well off" back then, for the 99%, meant you had a goat and some chickens. "Doing great" meant you had a cow or an ox. (and because they were so valuable, they slept in the house with you. Oh yes they did.)
As far as blaming it all on the Goddamn Jooooz or those bastard Rothschilds, take a better look. Yeah, there's a spike around 1840 or so - quite likely because of the Rothschilds et al. But it's no bigger proportionally than the rise 300-350 years earlier, in the heyday of the Medici and the Fuggers. The only spike that matters, wheree the line goes off the (logarithmic) chart is the one that begins in 1913, and accelerates hugely in 1933 and again in 1971. So Fuck The Fed!
The charts ignore some $125-$150 Trillion in Private Debt. This will never be hyperinflated. Central bankers don't control the flow of all private debt! They can only make taxpayers responsible for some of it.
There is no precedent for global hyperinflation.
"We are not left to conjecture how the moneyed power, thus organized and with such a weapon in its hands, would be likely to use it. The distress and alarm which pervaded and agitated the whole country when the Bank of the United States waged war upon the people in order to compel them to submit to its demands can not yet be forgotten. The ruthless and unsparing temper with which whole cities and communities were oppressed, individuals impoverished and ruined, and a scene of cheerful prosperity suddenly changed into one of gloom and despondency ought to be indelibly impressed on the memory of the people of the United States. If such was its power in a time of peace, what would it not have been in a season of war, with an enemy at your doors? No nation but the freemen of the United States could have come out victorious from such a contest; yet, if you had not conquered, the Government would have passed from the hands of the many to the hands of the few, and this organized money power from its secret conclave would have dictated the choice of your highest officers and compelled you to make peace or war, as best suited their own wishes. The forms of your Government might for a time have remained, but its living spirit would have departed from it..."
quotes from Andrew Jackson's farewell address.
Rest here;
http://www.presidency.ucsb.edu/ws/?pid=67087
Nota bene the fact that the vertical axis is a power scale, in order to allow the authors to squeeze the chart into a single internet.
Look at the impact upon the entire world caused by German hyperinflation in the early 20th century. Imagine what this chart will look like when the US dollar loses its reserve currency status and goes ballistic immediately thereafter. No fiat currencies will be able to withstand this pressure.
This will make those people who live in decommissioned missile silos look pretty smart.
Yeah it is going to suck.
I suggest you overlay this graph with one representing energy consumption and population. You might spot a trend
i too long for the economic prosperity of the year 1209 great article
"On a long enough timeline the survival rate of everyone drops to zero" .... Inflation can't last much longer can it?
Bankster interest.
My father worked at the Chicago Fed and growing up all I remember him saying was 'thank God for the Fed, we'll never have another depression now'........all I can think of now is, God forgive him, he knew not about what he spoke..........
It is all relative. Yes inflation exists and now two work to support a family, but then again in those days they didn't have to pay for day care, two cars, a McMansion or home in a sunny clime which everyone wants and many had to actually "work" six full days to earn a living.
It has to be put into perspective.
I trust the information from the year 1,200 as much as I trust it from 2012.
And things were so much better fro 1350 - 1400 when we had no inflation. :-p
The millennium is still young, give it a chance.
Today Is Deconstruct Business Insider Day
http://chartistfriendfrompittsburgh.blogspot.com/2012/09/today-is-decons...
Interesting. I'd better get a little more gold and silver.
Darn terrorist...
MDB
This graph brings to mind a German saying, "Trees don't grow to the sky."
Hockey Stick!
Finally, we have a positive correlation with CO2 emissions and a plausible causal driver.
Was this 800+ year chart of inflation excluding "volatile" food and energy costs?
Here is a...Which was first? The chcken or the egg....question in this context:
Is that inflation driving or is that inflation driven by [the need to support] the massive population increases during the same time span?
Maybe not an either or answer to that...
while it is true that the fed has created inflation,etc, it is also true that salaries also increaseds significantly but only until the late 1980's, it has been downhill for incomes relative to inflation since the early 90's and this trend has accelerated since 2001 particularly since 2008.............................the downward acceleration continues as inflation remains somewhat subdued (if you eat little and cheap, take no health care and walk to work and everywhere else.......................while incomes continue trending down......
Ron Paul on Jay Leno tonight talking about the FED, baseline budgeting ("crazy"), and bringing the troops home.
I am still writing in "Ron Paul" on election day, just wish there was a line to write "End the FED!", but it will have to do.
nice historical graph..
thanks ZH...i'm not a stupid technician = crystal ball reader....
but this is awesome.....however my price target for shorting SLV was $31..it was at $31+ today...will short tomorrow.
question: what was the price of a) silver and b) gold 800 years ago??
what was the price of tulips back in 1600? how many gold ounces did you need to buy 1 tulip at the tulip mania? how many oz do you need now?
how many companies went broke from 800 years ago to present..= ie no need to own casino stocks to maintain and build wealth...however metals are financial instruments and do fluctuate...i'll be a physical buyer of gold @ sub $300 and silver @ sub $4.00
i'm having a ball thinking of "alternative explanations"
and here's the best from my slewie-fried mind
according to the chart, inflation reaches unity or money0 around 1809 and then falls back
then, josephSmith was guided by an angel to find the Golden plates in 1823
you can read about it here :> he found them in a box on a hill in new york [Paste}
then the descendants of mormon and moroni waxed strong among men and founded the FED in 1913 {Golden plates - Wikipedia}
The End
USD purchasing power - 97% gone.... just a bit more QE
GO HARD CenTRal pLANninG bitCHez :/
Vaseline will not be avaialble for the bitchezzz. I am surprised that very many are enjoying football and fucking TV and pouring money into the teams. Shows the inbreeding and the thinking process.
BUT YOUR SALARY WAS PROBABLY $2 TO $3 SILVER DOLLARS BACK THEN, SO NOTHING'S CHANGED.....
Money is a Product