It occurred to me that this would be a far better method of evaluating the economy than all those other indicators:-).
For example, right now we hear TV newscasters say things like, "The Consumer Price Index rose .3 percent last month," and we have no idea whether that's good or bad. I mean, most of us don't even buy consumers, so why would we care how much they cost? On the other hand, if they said something like, "The Tooth Fairy Index went from $37.93 to $38.98 last month," we'd all understand it and think things were pretty good:-).
They could even break it down by tooth type to get a more detailed analysis of the economy. The newscaster could refer to a chart similar to the accompanying picture and say, "Central incisors closed lower today after some profit taking, while cuspids remained steady. The price of second molars skyrocketed based on rumors of an impending, shortage."
We could even get rid of the Council of Economic Advisers, who serve no purpose other than to have expensive, taxpayer-funded lunches while looking deeply concerned over the latest Gross Domestic Product numbers… which, apparently, are always a cause for concern otherwise we wouldn't have a Council of Economic Advisors to be concerned about them.
As for the Federal Reserve Board, I say we stick a pair of wings on Ben S. Bernanke, give him some pixie dust and let him loose. Who knows, we all might find a few hundred under our pillows the next morning:-).
Conversion Table
1 troy ounce =20 pennyweights =31.103 grams
1 pennyweight =.05 troy ounce =1.555 grams
1 gram =.03215 troy ounce =.643 pennyweight
1 kilo =32.15 ounces
14.583 troy ounce =16 avoirdupois ounce =1 avoirdupois pound
28.34 grams =1 avoirdupois ounce
Avoirdupois ounce and pound are the standard of measure in the US.
Your postal and bathroom scale weigh in avoirdupois ounces and pounds.
