Quote:
Originally Posted by Piotrsko
How does it compare to the cost of a commodity? In other words, has the price of an ounce of gold followed this hockey stick? $2500/oz. closing price the last while, but has that bought less wheat per ounce than it used to? I think that chart is tracking something not tied to something physical or an obscure reference, just to make a point.
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Inflation is a measure of many commodity costs, which makes it a more useful analytic tool than using any single commodity as a comparison.
I'm not convinced that the K-wave is a natural, time-based economic phenomena given a handful of periods in which inflation increased as a step in particular regions. At least, I find the Generational Theory, or 4 Turning theory to be more compelling, and possibly extend to a partial explanation of why inflation appears to move in steps.
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