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A Century Of Fed Fools (Or How To Turn $1000 Into $40 Since 1913)

Submitted by Anthony Sanders via Confounded Interest blog,

The Federal Reserve system was created in December 1913 with the stroke of the pen by then President Woodrow Wilson.

Since that time, consumer purchasing power has fallen from $1,000 in December 1913 to … $40 today.


Since 2007, the purchasing power of the dollar continues to fall along with average hourly wage growth YoY.


Thanks a heap, Woody.

JPMorgan Chase CEO Jamie Dimon says iPhones helps balance out U.S. Income Inequality. 

Let them eat iPnones?