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Transcripts For CSPAN2 Book Discussion On How The Other Half Banks 20160217

Obvious then, but these things are easier to see in retrospect. There is speculation in silicone valley but not like we had in 1999. So there are probably some inflation. Anyone else who hasnt asked a question . I will take one more from this gentlemen and then happy to sign books i want to follow up on something i heard you say. I thought you said since the abolition of the Gold Standard the dollar hasnt lost any of its buying power. No, i said it hasnt lost its power overseas in the world market. There was a terrible inflation in the 1970s. The rate of inflation generally has not been severe. It has lost about 2 a year except for that period. You can look at the figures like a dollar in 1920 is only worth 14 cents today. You know, that is really significant if you are around in 1920 and still around today. But life doesnt work that way. What happens is at a 2 rate it is barely noticeable and in some ways it is helpful. The one reason we have unemployment is for cultural reasons it is

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