Just out of curiosity:
How much as the dollar declined in the last 50 years against smartphones, laptops, flat screen televisions?
How about against microscopic surgery? EVs? Batteries? What about solar panels? Wind farms?
How about stock trades? Music? Videos? Long distance communication? Information storage and sharing?
There are countless products and services that are a lot cheaper today than we had 50 years ago yet few talk about that.
And then what is comparable to 50 years ago? Does anyone really equate a car in 2022 to one from 1970?
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My subject was to compare the value of the dollar against its own value in the past years, I have no much use for the results that I would get from comparing the dollar from 50 years ago to a product that didn't even exist at that time.
The fact that we have so many gadgets and services at affordable prices today is not thanks to the Fed. The development of technology allowed for more and better goods and services to be produced more efficiently. Also having these products developed and produced in countries where the labor costs are significantly lower helps a lot with cheaper end prices.
Imagine if every smartphone or flat screen were developed and only produced in the US, what would the price of the end product be?
I could talk about that but in another article where the subject would be the advancement of technology and the benefits it brings to so many sectors. It's not the inflation of the dollar that helped in any way for us to have cheaper prices on products and services.
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