Historic Money

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    Re: Historic Money

    "Babe Ruth signed a contract on March 10, 1930 with the American League Base Ball Club of New York (The Yankees) to play baseball for the next two years at an annual salary of $80,000. In 2010 the CPI was 14 times larger than it was in 1931, and the GDP deflator was 12 times larger. This means that if we are interested in Ruth's purchasing power of housing or meals, then he was "earning" the equivalence of about $1,000,000 today.

    That was the only part i was talking about. It was just a fun way to study the concept for me as I have a Econ test today. (studying management and want to get into sports. Unrelated, just saying) It is really used to compair inflation from one year to the other and you can use that to say, compair the interest rate offered by a CD or bond and compair it to inflation price to see the minimum ammount you need in the account to make money. Note. If you decide to buy a bond or CD for your children or grand children like my gandparents used to....dont. most of the time you cant keep up with inflation and lose money.
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    Re: Historic Money

    Good luck on your exam today. Looks like you know all about CPI. Your OP was interesting.
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    Re: Historic Money

    In Response to Re: Historic Money:
    In Response to Re: Historic Money : Exactly! Which is why Flood should be thanked by the players of today
    Posted by thepeskypole6

    AND why there should be another totem out - to him - with the OTHER Jangee greats at the Stadium!