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Just to be clear for anyone who didn't actually look at the graph, the ratio varies by about a factor of five over the last hundred years, with wild swings due
by AdamH12113 3y ago
Just to be clear for anyone who didn't actually look at the graph, the ratio varies by about a factor of five over the last hundred years, with wild swings due to the Great Depression/WW2, what I assume is inflation in the 1970s, and the early-2000s housing bubble. And while the 1890s value is more similar to 2023, the ratio varied by tens of percentage points in the years around both of those dates. So it's not like the price of housing is stable if you use gold instead of dollars. (The post I'm replying to did not imply this. I mention it because there's a tendency to abuse these kinds of facts to construct neat little narratives about currency.)
- pjc50 3y ago> there's a tendency to abuse these kinds of facts to construct neat little narratives about currency People really want to simplify a complex system into a short tale which wraps everything up with a little bow on top and blames it on their enemies. Not exclusive to goldbugs, though.