4 ms·
We printed more money last year than we printed from 1776-2000. The dollar has already lost 99% of its purchasing power from its inception (that isn't agitprop,
by anewaccount2021 6y ago
We printed more money last year than we printed from 1776-2000. The dollar has already lost 99% of its purchasing power from its inception (that isn't agitprop, its a verifiable fact when measured against fixed commodities over time).
How much house can a dollar buy versus twenty years ago? If the dollar was indeed rising in value over time, a dollar would buy more house today than in 2000. Before we left the gold standard, a dollar indeed held its purchasing power over decades. The price of gold is effectively an inverse measure of the value of a dollar given that the amount of gold is basically fixed.
- karpierz 6y agoHow many iPhones can a dollar buy 20 years ago?
- jbay808 6y agoHow many Dodo birds can a dollar buy today? A better question might be, how much would you have volunteered to pay twenty years ago for the functionality an iPhone gets you today? In 2001, if today's iPhone were being sold, what price would have made it a successful product among average consumers? (Not, say, the military or super-wealthy). I think... Less than $10,000 for certain, less than $5,000 most likely. In that sense the price has certainly come down, but semiconductors and electronics has obviously gone through rapid technological scaling and deflation is expected in that sector.