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US GDP Per Capita In Gold Ounces

from Gold Silver Worlds:

The place to be for gold charts is without any doubt As part of the subscription, you get countless gold charts. One of the many chart types are ratios, for instance the well known gold to silver price ratio or the less mentioned gold to monetary base ratio.

One of those interesting charts is the one below. It shows the ratio of the US GDP per capita versus gold. It is easily derived by dividing the GDP per capita in the US (last year approximately $52,000 to $53,000) by the price of gold (per ounce).

The ratio expresses the economic output per capita in the US in gold, in other words in “real money.” From that point of view, it is interesting to observe that the US is currently generating economic output at the low end of long term standards. It is also interesting to observe that this period of time is similar to the ones in the 30ies (the Great Depression). Maybe that latter sheds some light on the “unreal” feeling that most people have in today’s economy.

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1 comment to US GDP Per Capita In Gold Ounces

  • Ed_B

    “It is also interesting to observe that this period of time is similar to the ones in the 30ies (the Great Depression). Maybe that latter sheds some light on the “unreal” feeling that most people have in today’s economy.”

    By many measurements, the US IS in a depression now and has been since 2008. But no one has the big brass ones to actually come out and say it. As long as no one on the national scene actually utters the “D” word, we simply are not having one. It does not take too long a look at the facts of our economic situation, however, to absolutely prove that we are in a depression. Average take-home pay for Americans has fallen every year for the past 6 years. The labor participation rate is at a 40 year low. Inflation is running at 10% or more when one actually measures it instead of inventing numbers that please the politicians and their media sycophants. The US economy is shrinking and has been for some time, although this fact has been covered up pretty well until just recently. Unemployment is higher than the official “measurement” by about a factor of 4 when one counts the people who have only part time jobs but want full time work and the people who are working at levels considerably below their level of training and experience. In many ways, the US economy feels to people as if it was in a depression because IT IS.

    The Fed and the US Gov, however, have papered this situation over in two primary ways. First, there is a massive handout program that prevents people from having to line up for soup kitchens as they once did in the 1930s. Second, we actually have TWO economies in the US these days. There is Wall Street, which has been super-charged by trillions of freshly printed Federal Reserve Notes, and there is Main Street that has been pretty much left to its own devices. Given this, it is clear that those who are gorged on cheap and even free currency think that they are doing really well. It is just as clear that those who have been left behind do not think that they are doing so well. In fact, they KNOW that they are not doing well. These people, which comprise about 3/4 of the US population, are now in the economic equivalent of a nut cracker. At the same time, they are squeezed by much higher prices for the things they need to live AND falling incomes.

    This is not a situation that can end well and it will not end well. When it ends, it is likely to do so via massive social upheaval and citizen unrest. This, of course, will prompt the US Gov to over-react and do more damage / harm than good. In fact, they just might spark the 2nd American Revolution via this incompetent policy making and implementation. While no one of good intentions wants that to happen, the alternatives to it seem to shrink by the day.

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