Rich economies now use half as much oil per real dollar of GDP as they did in the early 1970s.
Developed countries use half as much oil per real dollar of GDP as in the mid-1970s, thanks to improved energy efficiency.
Below I have plotted the trend in the amount of money earned from the average license, measured in real dollar terms from 2003 through 2009.
During this dreary ten year stretch stocks have essentially gone nowhere in nominal terms and, adjusting for inflation, are actually down big in real dollar terms.
Overall, the cost of electricity, which declined (in real dollar terms) for the last two decades of the 20th century, has been relentlessly tracking up since 2001.
The real Fed Funds rate averaged 3%-plus, leaving gold to drop three-quarters of its real dollar value inside 20 years, as the real value of cash-on-deposit doubled.
FORBES: Real U.S. Interest Rates Deeper Below Zero Than Even In 1970s
While continuing to monitor the real-dollar relationship, Mantega has now turned his attention to controlling inflation in an overheating economy.
The current regulatory state of affairs permits brokerage firms that do not have a real soft dollar expertise to prosper by facilitating abusive arrangements.
FORBES: Soft Dollar Zone: A Sensitive Area (January 1, 1997)
Yet beneath all that volatility lies a haunting and inexorable truth: "In real-dollar terms, paper pricing basically goes down" over the long haul, says Georgia Pacific President Lee Thomas .
Moreover, the strong Brazilian currency trend means that Brazilians can spend less of their own hard earned money, the real, to acquire weak dollar assets like real estate.
The market appears highly bullish on the Brazilian currency, the real, with Barclays Capital saying April 6 that the dollar-real exchange could take the currency to BRL1.50 within in the next three months.
FORBES: Brazil Currency Fair Value Between BRL1.52 and BRL1.56, Says Nomura
We note the sharp contrast with 2001, when a shortage of dollar liquidity (strong and strengthening dollar, high real interest rates, low central bank dollar reserves, falling gold and commodity prices, rapidly shrinking U.S. profits) all spelled weakness.
The value of the Brazilian real against the dollar is also encouraging buyers.
FORBES: Embraer Jet With A Tainted History Offers Steep Discount
Billionaires have been trading multimillion-dollar real estate with tremendous zeal in recent years, slapping down record sums for trophy homes while quietly floating other properties in their portfolios through brokers in unofficial, off-market offerings.
"Starting salaries do not tell you a whole lot, but there is a real divergence in dollar terms as you go over the course of a career, " says Al Lee, director of quantitative analysis at PayScale.com.
Since 2005, when China started de-pegging gradually from the dollar, the yuan has appreciated around 25% in nominal terms and about 50% in real terms relative to the dollar, according to a report by The Economist.
The real value of the dollar declined from its 1989 average from mid-2004 onward.
FORBES: Watching With Horror As The U.S. Plumbs The Depths Of Austerity
The real value of the dollar was close to its 1989 average during that period.
FORBES: Watching With Horror As The U.S. Plumbs The Depths Of Austerity
The average real value of the dollar increased by almost 42% from 1996 to 2001.
FORBES: Watching With Horror As The U.S. Plumbs The Depths Of Austerity
During the post-World War II gold dollar, real economic growth averaged 4% a year.
FORBES: Gingrich, The Gold Standard, And The Florida Primary
Because GDP expansion is driven by long-term capital investment, a fiat dollar retards real economic growth.
FORBES: The Fiat Dollar: As Unreliable As My 1971 Fiat 124 Sedan
Lastly, under Bretton Woods there was no real alternative to the dollar as a reserve currency.
ECONOMIST: A further steep decline in the dollar seems inevitable
The Sao Paulo stockmarket soared and, though the real fell against the dollar, it did not collapse.
The renminbi has appreciated by 9.3 percent in nominal terms and 12.6 percent in real terms against the dollar since June 2010.
The country's central bank could have kept the real steady against the dollar by buying up the currency so that supply would match demand.
It seeks to achieve the same total return as money market rates in Brazil and changes in the Brazilian real versus the US dollar.
In other words, these measures have had almost no mid-term impact on the dollar-real exchange rate because investments of all kinds continue flowing into this country.
FORBES: Brazil Postpones Currency Measures (But They Are Coming)
In dollar terms, real PCE in March was right in line with very strong expectations.
The real always falls against the dollar when measures to tax or control dollar flows into Brazil are expected.
FORBES: Brazil Postpones Currency Measures (But They Are Coming)
Rather than worry about a weak euro, Mr Summers might do well to contemplate the real possibility of a weak dollar.
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