A Bushel of Corn


May 14, 1981

When I shelled corn in the early 1960's, farmers could get one silver dollar for a bushel of corn.

One silver dollar is now equivalent to twelve paper dollars.

Corn is now selling for about three paper dollars per bushel. This is equivalent to 25 cents in silver.

Farmers who measure with real money know that they are now getting only one-fourth as much for their corn.

Farmers who measure with artificial money think they are getting three times as much for their corn as they were in the 60’s.

We are living in a fairy-tale land of fantasies and dreams. The longer we postpone our awakening, the greater will be our surprise.