The Dollar Has Lost 96% of its Purchasing Power!
February 29, 2016
And why did the dollar begin an even steeper drop in 1933? That was the year FDR took the US off the Gold Standard and started backing our money with debt instead of Gold. That was when Socialism began to really take hold in our once-great nation.
You can find the calculator below on www.AIER.org. Just scroll to the bottom left of the home page, and you can calculate any dollar amount and choose the years. (A similar calculator with the same results is on the US Bureau of Labor Statistics website). As you can see I had it calculate how many dollars it would take today to purchase what $1 bought in 1913. The result was more than $26. You can plug in any numbers you wish and click "Calculate."
So today a large Thanksgiving turkey that would cost us $25 or more would have cost your great-grandparents $1. Why? Is the turkey WORTH 25 times as much today? Of course not! It just COSTS 25 times as much because the Dollar is only worth 4 cents today compared to 1913. The reason for that huge drop is inflation. And the sole reason for inflation is criminal activity on the part of the government - in the form of driving our nation so deeply into debt that our great-grandchildren will be paying it off.
Due to Obama and others like him our debt is so huge that our children's generation will be the first in the hundreds of years of this nation's existence that will be worse off financially than their parents.
When the Democrat primary campaign began it appeared that Hillary had learned something over the past few years. Perhaps she has been reading Conservative Truth. In any case she initially distanced herself from Obama and his policies.
But of late she has been embracing his failed presidency. She has praised his ill-advised actions, and she has stated that she will continue his policies. I didn’t need any reason to vote against her, but perhaps the fact that her administration will be “Obama, the Sequel” may persuade some Democrats to forsake blind obedience to their Party - and persuade them to consider voting for a candidate who will respect the Constitution and start digging us out of this sinkhole of debt. It would only take a small percentage of Democrats (many of whom have admitted to pollsters that they do not like or trust her) to put a Conservative in the White House. Please, Lord, let it be so.
He has written thousands of articles that have been republished in national newspapers and on hundreds of websites, and is a frequent guest on radio and television shows. His weekly Conservative Truth article (which is read by 250,000) offers a unique viewpoint on social, moral and political issues from a Biblical worldview. This has resulted in invitations to speak internationally at churches, conferences, Money Shows, universities, and on TV (including the 700 Club).
“Dr. Tom,” as his readers and followers affectionately refer to him, has a passion for teaching, as you can see from his ministry website (www.ChristianFinancialConcepts.com); his patriotic site (www.ConservativeTruth.org); and his business site (www.GoldenArtTreasures.com). Tom's friend Dr. Lance Wallnau wrote of him, "Tom Barrett is a Renaissance man with a passion for subject matter ranging from finance to theology and American history."
Visit Dr. Tom Barrett's website at www.DrTom.TV