It's all about the money supply. The devalued our money so workers think they were making more to avoid a communist revolution.
this post was submitted on 28 Jan 2024
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I mean, this is like saying "$10,000,000 would buy you a house in 1910, and $10,000,000 would buy you a house in 2023"
It would take a lot more gold to buy you a house in 2023 than it would have in 1923
The price of gold has kept up with inflation. Same amount of gold required in both periods.
Yet house prices have not. The price of housing, let alone homes, has outpaced inflation and wages not too gradually for half a century now.
If you look below, the comments did the math; Same amount of gold.
The main issue is that gold isn't directly used as currency, so this post is really saying "if you bought something worth a house, it is worth a house. Isn't that weird?"
Gold used to be directly tied to our currency, but you can't just print more money when it's based off a gold standard, and the government didn't like that, so they changed the standard.