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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Crimson Ghost who wrote (44035)	1/6/2006 8:19:09 PM
From: Chispas	Read Replies (3) of 116555

Michael Hodges - Inflation in my adult years increased average prices 1,000% or more: a postage stamp in the 1950s cost 3 cents; today's cost is 39 cents - 1,300% inflation; a gallon of full-service gasoline cost 18 cents before; today it is $2.28 for self-service - 1,267 % inflation; a new house in 1959 averaged $14,900; today it's $282,300 - 1,795% inflation (+1,510% if quality-adjusted); a dental crown used to cost $40; today it's $740 - 1,750% inflation; an ice cream cone in 1950 cost 5 cents; today its $2.50 - 4,900% inflation; monthly government Medicare insurance premiums paid by seniors was $5.30 in 1970; its now $88.50 - 1,664% inflation; several generations ago a person worked 1.4 months per year to pay for government; he now works 5 months. and in the past, one wage-earner families lived well and built savings with minimal debt, many paying off their home and college-educating children without loans. How about today? Complete essay - financialsense.com

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