“The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.”
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Apparently so, people constantly demand to know why everything costs so much and many are foolish enough to blame it on greed, it would take an essay to explore the stupidity in that. Very rarely does someone ask the proper question, why is my money almost completely worthless in the marketplace? Those who never learn to ask the right question will forever get the wrong answer.
The entire gross earnings of my parents from the day of my birth until I joined the Navy would amount to maybe one decent year’s income today in nominal terms. On the other hand my income from social security is in nominal terms equal to the income of a successful small business operator in those days.
Yes, it’s not that things “cost more”,
it’s that your currency is “worth less”.
That’s how I refer to the “price” of precious metals -
a dollar is worth 1/1600th oz of gold or
1/34th oz of silver.