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david25

3,822 Posts.

15/11/14

09:53

Post #: 14294799
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Originally posted by Richie2013 ↑

One word - CPI
In 1974 the average weekly income was $133, 20 years later in 1994 it rose to $658. Now in 2014 it is $1516 (I'm sure Miners get paid a lot more than this). So if wages have more than doubled in 20 years, along with the cost of living for everything (In 1994 Petrol was 60 cents/L) then it is safe to say that the Iron Ore should also rise accordingly.

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Then why was iron ore around $25 for consecutive years 12 years? 1995 to 2007
If I use CPI of 4% as a means to increase prices, iron ore would only be $35 ton today.

Your logic is flawed.
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