Tuesday, January 26, 2010

Inflation ”An Old People’s Disease”


The Great Depression of 2006 BlogSpot - Inflation An Old People’s Disease”:
"I can't remember how many times my grandpa told me; when he was a kid, the price of a loaf of bread was a nickel and how he worked in the oil fields for 50 cents a day. When I graduated from high school in 1964 gold was at $35 per ounce and our coinage was silver.
At the age of 17, inflation had no real meaning. I had no past to compare it to"

This is a insightful little article, a must read for Boomers of all ages. I think it will jog a few memories, and make you wonder what our financial future has in store for us.

I have my own moment to add to Jim's "milestones for government induced inflation".
In the early Seventies, we were paid by cash or check. I remember complaining that all of the bills I was getting paid in were new and freshly printed. I couldn't seem to get my co-workers to realize that something was wrong, and there was a danger involved with printing so much new currency. No one seemed to care, the general response was that "money is money", and everything was well with the world as long as "the check cleared."
I wonder what they're saying now?

I for one am getting a little worried.


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