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McGonicle
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  • Inflation 1969-2013 0 comments
    Feb 8, 2013 9:17 PM

    observed a noticeable jump in restaurant and grocery store prices here twice; once when fuel peaked in 2008, and again early last year after QE2, especially for water/fuel intensive items (lettuce).

    I also coincidentally found pages of the Kansas City Times from 1970 and 1981 blowing in the wind in the park--no joke. Some quick math discovered that laying over prices across that time period (and in the same city) that inflation has been very, very low and very stable for a long, long time. Commodity items, such as tobacco, liquor and coffee (not including sin taxes obviously) were much MORE expensive compared to regular food, and meat, canned goods etc have been very price stable, or are a bit less expensive today. I was a grocery store cashier in the mid and late 1990s, and that was when prices were abnormally below the curve, if at all (coinciding with very low fuel prices).

    Though i have railed against the concept that inflation is currently very low on SA, and tried my best to deny it and argue against it, my thumbnail research did indicate that this rate worked out to 2% per annum more or less from 1970 to 2013 in Kansas city...

    Also just to note that there were almost no electronic items advertised, much more clothing, and cars that seemed very undesirable from a modern consumers point of view, but for a fair price...

    Americans have no idea how inflation would affect their lives. The USD is absolutely massive (everything on the planet is denominated in it) and it takes a huge amount of inertia to over come that (3-5TT USD input so far and zero effect).

    Once it starts to move, it will be unstoppable.

    This is of course because the money is flowing straight into the stock market, and not on comparatively low profit and volatility items like food and land...when it flows back out...none of us know...

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