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View Full Version : Interest devaluation tool on gov site




scandinaviany3
12-26-2008, 12:24 PM
Its amazing to see a tool like this on the government site:cool:

http://data.bls.gov/cgi-bin/cpicalc.pl

Csturmer
12-26-2008, 01:04 PM
It's funny because of the year it starts; 1913.

thechitowncubs
12-26-2008, 03:37 PM
Pompous criminals.

nate895
12-26-2008, 04:03 PM
It is bad too, if adjusted for the price of Gold, according to this site, the purchasing power of the dollar has increased almost two-fold in relation to the value of the dollar. That is simply not the case.

$20 in 1913 is one ounce of gold, and according to their formula, $429.14 in today's money. Whereas an ounce of gold costs you $870 today. So, their formula is obviously wrong because things that used to cost $20 back then (such as a full suit), cost around $800-900 now. The dollar cannot buy what an ounce of gold can. Of course, that might be because people didn't trust dollars due to fractional reserve banking back then, making the money worth less than if people has confidence that a $20 note was, in fact, backed up by a $20 gold piece somewhere.

roho76
12-26-2008, 04:33 PM
It's funny because of the year it starts; 1913.

Funny you mention this. That was the first thing I checked.