by vincecate » Mon May 09, 2011 4:20 pm
John wrote:Food prices have been increasing almost steadily since 2002, in good times and bad, in good weather or bad. From the point of view of Generational Dynamics, we're continuing to see what I call the "Malthus Effect," a continuing increase in the price of food as the population grows faster than the supply of food, especially during a generational Crisis era.
Peter Schiff pointed out that in the 1950s gas was about $0.15/gallon and people paid with silver coins where 10 cents was about 1/10th of an ounce of silver. Right now 1/10th of an ounce of silver is around $3.80 and about the value of a gallon of gas. So if you use silver coins, gas is about what it was 60 years ago. Food is cheaper now than 60 years ago, if you use silver coins. Food prices in gold coins are also down over the last 60 years. The same is not true when comparing prices now to prices 60 years ago with paper money. Maybe the problem is with paper money and not Malthus.
Then again, maybe gold and silver prices are in a bubble. Time will tell. It would be good to know for sure ahead of time though.
[quote="John"]Food prices have been increasing almost steadily since 2002, in good times and bad, in good weather or bad. From the point of view of Generational Dynamics, we're continuing to see what I call the "Malthus Effect," a continuing increase in the price of food as the population grows faster than the supply of food, especially during a generational Crisis era. [/quote]
Peter Schiff pointed out that in the 1950s gas was about $0.15/gallon and people paid with silver coins where 10 cents was about 1/10th of an ounce of silver. Right now 1/10th of an ounce of silver is around $3.80 and about the value of a gallon of gas. So if you use silver coins, gas is about what it was 60 years ago. Food is cheaper now than 60 years ago, if you use silver coins. Food prices in gold coins are also down over the last 60 years. The same is not true when comparing prices now to prices 60 years ago with paper money. Maybe the problem is with paper money and not Malthus.
Then again, maybe gold and silver prices are in a bubble. Time will tell. It would be good to know for sure ahead of time though. :-)