Fwd: [BATN] Bay Area gas at record high; experts cite ethanol

owen@permafrost.net owen@permafrost.net
Thu, 13 Mar 2003 11:31:05 -0400


On Thu, Mar 13, 2003 at 03:23:02PM +0000, Russell Turpin wrote:
> Joseph S Barrera III:
> >I understand your point, but a price is a price, and an
> >inflation-adjusted price is a bit of an abstraction.
> >Sort of like asking whether the cheese on the counter
> >is REALLY the moldiest it's ever been, adjusting for
> >how many days it's been on the counter, or if it's JUST
> >the moldiest it's been in terms of absolute grams of mold.
> 
> Likely, we're arguing semantics, and I scrupulously
> try to avoid debates over how high is high. That
> said, your analogy is wrong. Constant dollars are
> the closest thing we have to absolute grams of mold.
> It's tempting to think "a dollar is a dollar is a
> dollar." The word is the same. But it just ain't so.
> 
> Now yes, dollars ARE an abstraction. That's true
> whether we are talking about 2003 dollars or nominal
> dollars.
> 
> >In other words .. 1980 dollars and 2003 dollars are actually the same 
> >currency.
> 
> Only if you have a time machine.
> 

Or work as a computer programmer. 

Currently earning about 70% (not adjusted for inflation) of what I earned 
at my first, entry-level position in 1986.

Owen