As is clear by this chart, inflation was virtually unheard of until the Creature from Jekyll Island the Federal Reserve took over. However, more importantly, things didn’t really start to get bad until the 1970?s right after Nixon took the nation off the gold standard in 1971. Since that time, America has seen a period of non-existent real wage growth and a huge gap grow between the rich and the poor ever since. Nothing like livin’ the debt slave dream!
via Guest Post: Inflation Since The American Revolution | Zero Hedge.
Reblogged this on This Got My Attention and commented:
Here’s a stunning graph of price inflation since 1775. For nearly 200 years prices cycled within a bounded range sometimes inflating and sometimes deflating. As government became increasingly involved in the economy the upper limit of the range was broken (perhaps because of a penchant for overpaying for goods and services?). Finally, hard link between the price of gold and the US Dollar was broken and prices have skyrocketed.