- Apr 1, 2011
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Inflation took off in 1917 when we got into the war, stupid. A steak dinner was 10 cents in 1900 because we've had 120 years of non-stop inflation since then.Why was a steak dinner 10 cents in 1900? I don't get your graph...And 1970 was 47 years ago. Why does inflation take off in 1970 if it's about the fed?Actually, I have no problem with his graph, he just doesn't understand what it is saying, it is INFLATION.No. . . . actually, it's a FACT.
We are casting pearls before swine, Mr Beale....Franco isn't capable of learning.No, in 2008, dumbass. THAT GOP scam. In 1929, it was hugely overvalued stock market because of of selling on margin- THAT GOP scam. In 1989, it was the GOP S+L scam crisis- None of which had anything to do with the Fed.They were selling bogus "GOPer oversight" real estate toxic assets, dupe? Absolutely nuts^^
In 1929, dumb ass????? Are you mentally challenged???
So you dupes are saying it's better to have this gd mess of panics and runs? I don't think so...
Source: The Bureau of Labor Statistics' annual Consumer Price Index (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.
Sorry, turd, but not every one of those peaks or troughs represent a "panic." And note, the historical data was constructed by a political science professor - a Marxist, in other words. Your graph is propaganda.
This means, the amount of blue we see on the chart, is the total amount of time that the dollar is inflating. If it spikes and comes back down quickly, that is a normal business cycle. If it goes slowly up, the dollar is abnormally losing value. If we see, in any period of one hundred years, a lot of blue, as opposed to sharp peaks or dips, than the currency will lose value.
If it rises quickly but quickly returns, than the currency retains it's value.
As it is, we see from history, the currency has lost more value over the last twenty years than all previous history combined. There has been no deflationary pressure whatsoever.
Prices
The price of a steak at Delmonico's in 1918 was $1.65, so I doubt it was as low as $0.10 in 1900. 20 times $1.65 is $33, which is about the price of a filet in a quality restaurant today. That's how much inflation there has been since the Federal Reserve was created.