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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (25872)	12/22/2003 2:40:47 PM
From: BSGrinder	Respond to of 39344

Yes, in the late 70's, I remember receiving a 15% raise and going to my boss to complain that it didn't keep up with the cost of living! However, at that time, almost everything we bought was made in America, so American companies and workers were receiving the benefits of those higher prices as well. But this time around, the people receiving the benefit of higher prices are largely overseas, not here. I couldn't tell you the last thing I bought that wasn't made in Asia - I haven't bought American made shoes, clothing, toys, appliances, or furniture in an age, and I don't think I'm particularly atypical. So I suspect that the upcoming bout of inflation will result in a real drop in living standards in this country, rather than simply parallel increases in wages and prices. /BSG