Inflation

Lots of readers emailing in this chart from Bianco (via Ritholtz).  I’m not going to comment on the validity of the data, but rather, the conclusions.  If you look at all the comments it appears people think the chart shows how there has been massive inflation over the centuries.  But if you do the math, at least eyeballing it, it turns out there is <1% inflation over the past 500 or so years (the sharp uptick in the past 60 years as the possible exception).