For those who had to deal with the 1970s inflation... (Page 3/4)
2.5 OCT 15, 04:38 PM

quote
Originally posted by 2.5:

What do you think of Milton Friedman's perspective, and his "graphical ilLUStrations" ?

Anybody have a graphical ilLUStration for our current time?



11 minutes, quite short by most peoples standards. Easy to watch.




I cant seem to find a graph of current times, anyone else?
Jonesy OCT 15, 05:40 PM
I was too young to remember the 70's (born in 77) But I've heard lots of stories from my dad.

But it seems to me inflation is already happening. I work in a hardware store and pretty much everything has gone up quite a bit.. Anything metal has basically doubled in price.
williegoat OCT 15, 05:59 PM

quote
Originally posted by Jonesy:

I was too young to remember the 70's (born in 77) But I've heard lots of stories from my dad.

But it seems to me inflation is already happening. I work in a hardware store and pretty much everything has gone up quite a bit.. Anything metal has basically doubled in price.


Yep, food, fuel, lumber, cars, all of the necessities. I'll bet those who got a raise to $15/hr are now having a harder time than they were last year when they were making $10-12.
MidEngineManiac OCT 15, 06:59 PM

quote
Originally posted by williegoat:

Yep, food, fuel, lumber, cars, all of the necessities. I'll bet those who got a raise to $15/hr are now having a harder time than they were last year when they were making $10-12.



In the past year or so around here...(Just a random sampling from this weeks trip to town)

10lb potatoes, 5 bucks now were 2.
T.P. 40 rolls were 18, now $24
Canned dog food, was 1.79 for a big can, now 2.19 for a small.
Coffee, was $8-9 for a 1kg can, now the same price but its a 550g (so basically doubled)
Beer hasn't changed, still 2 bucks a can/ 48 a case
Gas, don't get me started, there is a REASON I bought an electric joy-ride instead of a gas bike.
Meat, all OVER the map except pricey as hell across the board. 10 bucks for a dozen chicken wings, 20 for a couple small steaks, 5 for a pack of hot-dogs.
Cheese blocks, same price but like coffee packages are shrinking significantly.
MOST produce this time of year is still cheap, but this is farm-belt and we buy off roadside farm stands.
maryjane OCT 16, 01:26 AM
Gasoline is $2.99 out here in the countryside, a little cheaper in town.

Beef is higher but it's the processors that are making the $$$. Live feeders and culls last weekend sold for :
Cull cows avg 64.65,
bulls 65.62,
5wt steers 153.89,
and heifers at 139.
(Those are prices per 100 lbs weight except for the heifers.)

Compare that $1.54/lb steer with the retail steak prices:
https://www.heb.com/category/steaks/3052/3392

[This message has been edited by maryjane (edited 10-16-2021).]

MidEngineManiac OCT 16, 03:04 PM
$1.35-$1.45 a liter here.

About $5.50/US Gallon.
Blacktree OCT 17, 06:48 PM

quote
Originally posted by Jonesy:
I was too young to remember the 70's (born in 77) But I've heard lots of stories from my dad.

But it seems to me inflation is already happening.



I was born in '72. I remember back in the late 70s, when we watched the news on TV and heard words like "stagflation" and the "misery index". It was a scary time.

My first experience with inflation was during that time, as well. Every week, my dad would give me a quarter so I could get a candy bar from the corner store (they were 25 cents at the time). But one day, I went to the store and found the price had risen to 50 cents. So I had to wait another week for my candy bar. That really pissed me off. Looking back, it seems funny to get mad over that. But for an 8 year old kid, that was a catastrophe.

Lately, I've been thinking how much the prices on just about everything have increased... not just the last couple years but the last few decades. It seems the price of just about everything has tripled in 3 decades. Wages have not kept pace. It makes me wonder where all that money is going.
williegoat OCT 17, 06:54 PM

quote
Originally posted by Blacktree:

It makes me wonder where all that money is going.


It is going into the pockets of people with names like Pelosi, Feinstein and Biden, as well as a few who's names we will not hear.
maryjane OCT 17, 07:04 PM

quote
Originally posted by williegoat:

It is going into the pockets of people with names like Pelosi, Feinstein and Biden, as well as a few who's names we will not hear.


and:

and...........

[This message has been edited by maryjane (edited 10-17-2021).]

williegoat OCT 17, 07:29 PM

quote
Originally posted by maryjane:

and:




Yep, I first heard of them about 12 years ago when they were hiring every driver in the west. Nobody else stood a chance.