1909 Stats - Food For Thought
Posted: Fri May 28, 2010 5:44 pm
An Ozzie friend today sent me an email with statistics from 1909. Average US worker's yearly wage was $200 to $400 a year. 90% of all doctors had no college education, but attended medical schools. Heroin and morphine were available over the counter at drugstores, no prescription.
Progress? Think about it.
There's a lesson here about gold and silver's undervaluation. In 1909, both were universally money. $200 - $400 a year = 9.675 troy oz. to 19.39 troy ounce gold. $200 - $400 a year = 158.68 to 309.36 oz. silver per year. Right, and they could live on that. Equivalent of $25,000 - $45,000 per year, that implies a gold price of $2,325.58/oz and silver price of $145.46/oz
Think more. No FDA. No regulations or controls on drugs or food or hardly anything. Everyone was free to compete with the corporations. Doctors weren't miseducated by pharmaceutical companies.
Think.
Progress is an illusion
Progress? Think about it.
There's a lesson here about gold and silver's undervaluation. In 1909, both were universally money. $200 - $400 a year = 9.675 troy oz. to 19.39 troy ounce gold. $200 - $400 a year = 158.68 to 309.36 oz. silver per year. Right, and they could live on that. Equivalent of $25,000 - $45,000 per year, that implies a gold price of $2,325.58/oz and silver price of $145.46/oz
Think more. No FDA. No regulations or controls on drugs or food or hardly anything. Everyone was free to compete with the corporations. Doctors weren't miseducated by pharmaceutical companies.
Think.
Progress is an illusion
