1 Thousand Million Dollars...
Discussion
I've been enjoying reading the following website over the last week or so:
http://www.1940chronicle.com/1940/07/plane-product...
The 2nd last paragraph talks about how we had spent 'over one thousand million dollars' on aircraft from the USA. Now that is a large sum of money in todays terms, but can anyone tell me how much that is worth in modern money after 60 years of inflation ? And this was only the bill for up to half way through 1940, how much did we spend in the next 4 and half years ? No wonder we only recently cleared the war debt.
Fascinating stuff.
http://www.1940chronicle.com/1940/07/plane-product...
The 2nd last paragraph talks about how we had spent 'over one thousand million dollars' on aircraft from the USA. Now that is a large sum of money in todays terms, but can anyone tell me how much that is worth in modern money after 60 years of inflation ? And this was only the bill for up to half way through 1940, how much did we spend in the next 4 and half years ? No wonder we only recently cleared the war debt.
Fascinating stuff.
RedLCRB0b said:
I've been enjoying reading the following website over the last week or so:
http://www.1940chronicle.com/1940/07/plane-product...
The 2nd last paragraph talks about how we had spent 'over one thousand million dollars' on aircraft from the USA. Now that is a large sum of money in todays terms, but can anyone tell me how much that is worth in modern money after 60 years of inflation ? And this was only the bill for up to half way through 1940, how much did we spend in the next 4 and half years ? No wonder we only recently cleared the war debt.
Fascinating stuff.
That war debt was of such a low interest rate that it was in the U.K.'s best interest to pay it over that length of time as oppossed to quickly. It was that and not the actual amount that caused a 50+ year life to that loan.http://www.1940chronicle.com/1940/07/plane-product...
The 2nd last paragraph talks about how we had spent 'over one thousand million dollars' on aircraft from the USA. Now that is a large sum of money in todays terms, but can anyone tell me how much that is worth in modern money after 60 years of inflation ? And this was only the bill for up to half way through 1940, how much did we spend in the next 4 and half years ? No wonder we only recently cleared the war debt.
Fascinating stuff.
RedLCRB0b said:
....'over one thousand million dollars'...how much that is worth in modern money after 60 years of inflation ?
$15bn.or what labour borrowed every 3 weeks last year.
http://www.measuringworth.com/calculators.html
Edited by fbrs on Thursday 8th July 16:17
OnTheOverrun said:
Also bear in mind it was nearly $5 to a Pound at the start of 1940 - pretty much dollar to shilling parity! 
thats an interesting point $1bn was worth 250m quid in 1940 but we have had much higher inflation... 4000%'s worth. which makes it 10bn quid 'in todays money'. for any other macro economic dorks its quite satisfing that the fx rate has fallen in line with relative inflation Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff