dear, Bernanke is free to say whatever he wants, the public has no opinion on the gold standard, and the entire economic establishment is not for a gold standard. If anything Bernanke did himself and the Bank harm by speaking well of the gold standard and seemingly siding with Ron Paul. Do you understand??? - - - Updated - - - so then the current system is as good or perhaps better than some new system that remains undefined!!! 1+1=2. Sorry to rock your world.
what old system??????? The USA had a central bank and various monetary policies from day one!!! The old system??????
and your point is that trade would more efficient if we had 2000 or 10,000 currencies in America??? Does that really make sense to you?
Yup. Back in the 1970s, a house cost about as much as the average worker made in one year. Now it costs almost five times as much. People have to work longer just to buy the same thing. Does that sound like an increase in our standard of living? 1+1=2 Yes, because if you have a monopoly there's no incentive to get it right, but when there is competition the cream rises to the top, duh. Do you know anything about economics at all?
dear, houses today are almost twice the size and loaded with expensive stuff and wages then were $1.60/hour min while today they are $10/hour min. 1+1=2. income ---- ave house price ----- multiple of earnings 1970 $7000 ----- $23,000 ------ 3.3 1980 $54000 ----- $240,000 ----- 4.4
Nope. Median home prices were $12,000 then and $160,000 today, median income today is only around $30,000.
PDF]Median and Average Sales Prices of New Homes Sold in United States https://www.census.gov/const/uspricemon.pdf United States Census Bureau Median and Average Sales Prices of New Homes Sold in United States. Page 1 ... Nov 1970. $23,500. (NA). Dec 1970. $22,300. (NA). Jan 1971. $23,900. (NA). - - - Updated - - - Data for this Date Range March 31, 2016 221500.0 Feb. 29, 2016 $212,100.0 Jan. 31, 2016 213700.0 Dec. 31, 2015 223200.0 21 more rows US Existing Home Median Sales Price - YCharts https://ycharts.com/indicators/sales_price_of_existing_homes - - - Updated - - - According to the Census ACS survey, the median household income for the United States was $53,657 in 2014, the latest data available. 2015 Census ACS data (including 2015 national household income numbers) will be released in September of 2016
