Saturday, August 5, 2023

No Inflation Worries?

I heard a radio host say that one US dollar in 1930 is worth two cents in today's money. In other words, you would have to have just under one hundred million US dollars now to enjoy the same level of buying power that someone who had one million dollars did around the time the Great Depression started in the United States (October 1929). If inflation stopped right at this instant, the buying power of the dollar would not suddenly be restored to what it was a decade before World War II. The value of US currency will likely never come back to what it once was. When the Biden regime crows that inflation has been knocked down to three percent, they deliberately fail to mention that is on a dollar that has almost no value already. It is bragging about giving a drowned man a glass of water. 

No comments: