You have to have lived through one of those periods to believe it.
Take a look at the rest of the series and just imagine how stunned people were in 1981. From 1969 to 1977 things were basically flat, then bam! Rates almost doubled in 5 years.
All we need is for the Yuan start being treated as a reserve currency and it could happen again - and a lot faster, too. Keep in mind that in the 70's the US dominated the economic world in terms of production and consumption. Today, money has somewhere else to go.
DATE , TCMNOMY10
1962, 3.95
1963, 4.00
1964, 4.19
1965, 4.28
1966, 4.93
1967, 5.07
1968, 5.64
1969, 6.67
1970, 7.35
1971, 6.16
1972, 6.21
1973, 6.85
1974, 7.56
1975, 7.99
1976, 7.61
1977, 7.42
1978, 8.41
1979, 9.43
1980, 11.43
1981, 13.92 |
