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Originally Posted by Asmoday  That's not true -- can you back that up please? Whose accounts? Do you know how purchasing power is computed?
The only reason I ask all that is because, for you to consider that statement even remotely credible, you have to have no idea of what's behind purchasing power.
Our purchasing power has declined in the past two years, but not by much, certainly not to FOUR CENTS AGAINST A 1913 DOLLAR, most of it driven by oil price-gouging. |
It seems incredible, doesn't it? But go to the Fed's Minneapolis page, and go look for yourself. The calculator is on the right. One 2008 dollar buys five cents of 1913 money. Heck, it only buys 80 year 2000 cents!
The Federal Reserve Bank of Minneapolis
However, I'm open to discussions on how different ways of computing purchasing power can come up with different results.