Comment: So the government's bullshit number...

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In reply to comment: I never said that the CPI is (see in situ)

wolfe's picture

So the government's bullshit number...

is better than, you say "my bullshit" number?

My metals approach is best averaged over the years to account for weird spikes, and it is not always accurate due to other factors, as we have covered, but is far more accurate than the Core CPI will ever be.

In 1930 $0.12 purchased a loaf of bread. Calculated against it's silver content (90%), that was worth about $2.00 in today's silver market.

Not sure about you, but that is about what I pay for my bread. Give or take based on coupons, etc.

Here are some prices to look at.
http://www.thepeoplehistory.com/70yearsofpricechange.html

Is it always accurate? No. Is it better working with a softened average to account for spikes/dips. Yes. Is it more accurate than what the government tells us, yes.

Silver has a fixed value that is effected by supply/demand principles only that are fairly flat. The USD is what loses value via inflation.

And for the record, if you looked, I didn't even pull 10% from my metals approach. I pulled it from a site that included food/fuel and came to around a 12% inflation rate. I rounded down to by conservative.

You point to the CPI to say that my figure is wrong, and provide no alternative calculation to support that my figure is wrong. The only way you can possibly come up with such a low number IS to use the CPI, which you have repeatedly referenced as your source for inflation numbers.

The Philosophy Of Liberty -
http://www.thephilosophyofliberty.com/