— Bill Bonner Letter October 2016 The post-1971 buck was cut off from the reality of time, resources, skills, and output. It was a credit-backed dollar, not an asset-backed dollar. The pre-1971 dollar represented real wealth – it was tied to the real economy (which produced real wealth) by gold. And dollars tended to end
Tag: Inflation
… They are just a way of swindling the public
Bill Bonner Letter April 2016 Say’s law tells us that money doesn’t really matter. “You buy products with products” is the vernacular expression. If you want to buy something, you have to produce something that you can trade for it. The “money” just greases the transaction. If you “in ate” the currency, you are asking
Devaluing a currency is like peeing in bed. It feels good at first, but pretty soon, it becomes a real mess
– Senior Fed official Devaluing a currency is like peeing in bed. It feels good at first, but pretty soon, it becomes a real mess.”
All wage and inflation numbers are a little fishy. So, let’s keep it simple …
Bill Bonner Diary 4/5/2016 All wage and inflation numbers are a little fishy. So, let’s keep it simple. The basic transportation for a working man 40 years ago was the Ford F-150 pickup truck. In 1976, that truck, the SuperCab model, had a manufacturer’s suggested retail price (MSRP) of $4,600. That was when the average