Apropos Robert Wenzel’s LRC essay today on the pinhead ‘Fed’ lackey David Andolfatto, I would like to point out a disingenuous remark that Andalfatto made. He stated: “Yes, what cost $1 in 1913 now costs $20. But so what? Money neutrality states that if you were earning $1 per hour in 1913, you are now earning $20 per hour (and even more, if labor productivity is higher).” In 1920, a person making $20,000 was considered making a very nice salary. Today, adjusted for inflation, that person would be making $220,000 a year. In 1920, a person making $220,000 would today … Continue reading Contra the Pinhead ‘Fed’ Bankster Puppet