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Value of the dollar then and NOW!!!! ...

# Value of the dollar then and NOW!!!! READ!!!

Posted in the African-American Forum

Tim John

United States

#1 Oct 9, 2008
Gasoline cost 27 cents a gallon in 1949 compared to around \$4.00 today.* How has the relative cost of buying gas changed over the last 59 years? Presented here are two tables computing the annual "real" cost using our five indicators, one in 2007 dollars, the current number used for real GDP, and the other in 1949 dollars. While the two tables show the same trends, they do give a different perspective.

http://www.measuringworth.com/uscompare/

Look at the tables, see that the GNP This country's Gross National Product is down per captia, in 2007 as compare to it's volume in 1949. The dollar has to be backed by 'something' right! What's backing it today?
Tim John

United States

#2 Oct 9, 2008

http://www.measuringworth.com/calculators/usc...

Current data is only available till 2007. In 2007,\$1.00 from 1949 is worth:

\$8.69 using the Consumer Price Index
\$7.32 using the GDP deflator
\$14.19 using the value of consumer bundle *
\$14.46 using the unskilled wage *
\$25.51 using the nominal GDP per capita
\$51.66 using the relative share of GDP

* The 2007 data for unskilled wage and consumer bundle are estimated and will be adjusted when official data become available.

If you need help determining which result is most appropriate for you, see Choosing the Best Indicator to Measure Relative Worth.

For construction of the Indicators, go to CPI | GDP | Consumer Bundle | Unskilled Wage series.
Tim John

United States

#3 Oct 9, 2008
This means that \$1.00 from 1949 is the same as 7.32 dollars to 51.66 dollars today depending on what tool you use to calculate!

ladies and gentlemen, the very dollar in your pocket is worth absolutley NOTHING!!!
woo fung poo
#4 Oct 9, 2008
Tim John wrote:
Gasoline cost 27 cents a gallon in 1949 compared to around \$4.00 today.* How has the relative cost of buying gas changed over the last 59 years? Presented here are two tables computing the annual "real" cost using our five indicators, one in 2007 dollars, the current number used for real GDP, and the other in 1949 dollars. While the two tables show the same trends, they do give a different perspective.
http://www.measuringworth.com/uscompare/
Look at the tables, see that the GNP This country's Gross National Product is down per captia, in 2007 as compare to it's volume in 1949. The dollar has to be backed by 'something' right! What's backing it today?
The only thing that backs the dollar is the promise or perception of more dollars , The line is mighty fine .

Government mandating sub-prime and then insuring sub-prime is insane .

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La Morena
#5 Oct 9, 2008
The American Dollar is almost worthless. The only way for it to have some sort of value is for it to be backed in gold. Gold is the international standard of currency, that will never become worthless. Pretty soon, the US Dollar will be nothing but green-colored paper...while the gold prices continue to strenghten.

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Cecil lopez
#6 Oct 9, 2008
THE DOLLAR IS PAPER THATS BACKED UP BY THE CONFIDENCE THAT OTHER COUNTRY HAVE AROUND THE WORLD FOR THE UNITED STATES
AND NOW THERE LOSING CONFIDENCE
PLUS THE DOLLAR ISNT EVEN BACKED UP BY GOLD

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Louisville Slugger
#7 Oct 9, 2008
Tim, of course the dollar has some value. Merchants worldwide accept it. My concern is that this economic bailout will lead to inflationary pressure never before seen. Where can a regular guy get an expert opinion in plain English on likely future scenarios?

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AlwaysRight
#8 Oct 9, 2008
Back in the day you could buy a filthy negro farm animal for a few hundred dollars now they are not worth a penny, so it goes both ways depending on the value of the thing at the time. Make sense to you dumbass?

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“Semper Gumby!”

Since: May 08

Bexleyheath, UK

#9 Oct 9, 2008
Good post and site!!!

“Semper Gumby!”

Since: May 08

Bexleyheath, UK

#10 Oct 9, 2008
Louisville Slugger wrote:
Tim, of course the dollar has some value. Merchants worldwide accept it. My concern is that this economic bailout will lead to inflationary pressure never before seen. Where can a regular guy get an expert opinion in plain English on likely future scenarios?
Crash Proof by Peter Schiff

of visit his site at http://www.europac.net

But the book is much better. There's just too much to explain to put it into a simple article.

“Dreams are the touchstones of ”

Since: Feb 07

Our characters

#11 Oct 9, 2008
If anyone is currently paying 4.00 for a gallon of gas, you're getting screwed. It's only 2.81 where I am right now...which is still to dang high.
Tim John

United States

#12 Oct 9, 2008
This is all a reflection of setting up the Federal Reserves <--- a PRIVATE BANK, the right to 'print' I say again print money and then MAKE MONEY on interests, whiling LOANING the American government the printed money, NOT BACKED BY GOLD or the GDP!!
Louisville Slugger
#13 Oct 9, 2008
FMF_Doc wrote:
<quoted text>
Crash Proof by Peter Schiff
of visit his site at http://www.europac.net
But the book is much better. There's just too much to explain to put it into a simple article.
Thankyou

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