The US economy is at Depression-Era Levels
The Laptop Millionaire Thought of the Day
When Priced in Gold, the US economy is at Depression-Era Levels
"An industrialized American economy began to take off in the 20th century; GDP doubled from 12 ounces of gold per capita in 1892 to 23 ounces of gold per capita in 1916.
And by 1929, it had almost doubled again to 41.12 ounces of gold per capita.
We know what happened after that– years of depression and economic stagnation. The economy bottomed in 1934 at 14.93 ounces of gold per capita, and then it began a multi-decade rise, peaking at 139.05 ounces of gold per capita in… 1970. We have just ended 2012 at 28.40 ounces of gold per capita.
[...] The post-war average for the US economy is 72.83 ounces of gold per capita, so the economy today is an amazing 61% off this historical
Right now, the largest economy in the world is producing as much as it did in 1931, almost at the peak of the Great Depression.
And no matter what the talking heads and politicians say, the data show that the trend is getting worse."
― Simon Black, SovereignMan.com