Dec. 11 at 3:32 PM
$SLV $GLD $GDX $B $JNUG
This ceases to be an intellectual exercise once you realize:
a) US minimum wage was 5 silver quarters (
$1.25) in 1963
b) Those 5 silver quarters contain ~0.90 troy ounces of silver, which at ~
$62/oz silver today would be worth about
$56 in raw metal value (0.904 × ~
$62) 📈
c) US CPI calculations say that
$1.25 in 1963 is worth roughly
$12.98 today when adjusted for inflation & cost of living changes using CPI measures (not asset values) 💵DollarTimes
d) The
$56 −
$12.98 = ~
$43 difference☝️ has gone, in effect, to the US top 10% through asset gains & wealth concentration rather than to wage growth
e) Labor share of corporate profits is near multi-decade lows
f) US political dysfunction is at multi-generational highs, driven in no small part by the highest income inequality in nearly 100 years