gold breaks out, page-367

Hi there Jantimont

I have played golf since 1971.

In 1980, I used to pay $5.00 for a golf ball. That is about what I pay in the Pro Shop now, but if I go down to the bulk store in Smith Steet Collingwood, I can buy a dozen at $3.33 a ball. We have had significant golf ball deflation over the last 30 years.

My point: I don't think that you can credibly invalidate an official measure of inflation by reference to the increase in price of one asset class. If that rule applies, I could reasonable demostrate deflation by reference to golf balls, white goods and computor hardware.

Afterthought: I have messed around with the inflation calculator and the gold price history. I am so glad I bought a house in 1984 and didn't invest in gold ...

Cheers