>showing off the last 70 years of inflation Be careful with this point. Inflation is the value relationship between money and non-money. Part of the reason c

>showing off the last 70 years of inflation Be careful with this point. Inflation is the value relationship between money and non-money. Part of the reason companies raise more now is because they are bigger and more profitable, not just because dollars are worth less relative to goods. For example, Ford went public in 1956 on a market cap of $3bn (one of the largest in the world at that time) on net income of c. $200mn, for a c. 15x P/E ratio. Today, Ford is worth c. $80bn and its net income is c. $4bn, for a P/E of c. 20x. The only inflation there is the move from 15x to 20x. EDIT: and to make this point more clearly, new cars have only inflated 3x since 1956, even thought Ford is 25x larger. https://fred.stlouisfed.org/graph/fredgraph.png?g=JbBS https://fred.stlouisfed.org/graph/fredgraph.png?g=JbBS