So the price of oil is really only up 21% since Jan 20, 2001?

[krispos42]

I took the price of oil in gold from January 20, 2001 (Bush's coronation) and from yesterday.

I used the daily Stock Market Watch by ozymandius, who does such a good job every single day.


On coronation day, it was 0.1038 ounces of gold for a barrel of crude.

Yesterday, it was 0.1252 ounces for a barrel, an increase of slightly less than 21%.


Yet the price of gold is up 3.44 times what is was on coronation day ($918.10 vs. $266.70), and the price of oil is up 4.15 times ($114.86 vs. $27.69).


Have the Neocons, Bushites, and globalization really killed the dollar that badly???

[DJ13]

1. Thats correct, but our MSM refuses to admit the truth that......

........its really our take home pay that has depreciated since Bush seized power.

[Jim__]

2. I'm not sure the price of an ounce of gold is an accurate measure of inflation.

Even if the value of the dollar remains constant (relative to GDP), the price of gold can fluctuate due to other financial concerns. I'm not denying that our measures of inflation are grossly understated; it's just that I don't believe the change in the price of an ounce of gold is an accurate measure.

[krispos42]

4. I'm not either, but gold is suppose to be "the" standard

From ancient times to the indefinate future, it was, is, and will be an precious metal.

I understant the price of industrial metals, such as copper, tin, silver, and lead, have climbed sharply as well. Doubtless part of that is demand, but...

:shrug:

[sinkingfeeling]

3. The value of the US dollar has dropped about 40% as compared to other currencies.

[Javaman]

5. Yes. nt

[n2doc]

6. Yes they have

And once we get a Dem in office you can bet that devalued dollar that we will be hearing all sorts of stories about inflation. Richard Nixon set the first inflationary fire in 1970, but Jimmy Carter was there to take the blame.