$100 today buys what $10 bought in 1960.
Actually, 1964.
$100 today buys what $10 bought in 1960.
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Right?
If we get another 4 years of Biden, the 100$ bill will be equivalent to a what the 20$ got you in 2019.
I can see why money launderers wouldn’t want small bills. Difficult to transport or conceal in large amounts.
Should be a problem for org.crime these days. Just use crypto.
Not hard to get $100 bills though. Casinos love to dispense them.... probably for the very same reason. They don’t want to have to keep restocking cash machines with small bills all day long.
Yeah, that too.
Back in the late 70s $20 bill to get me a half gallon of Bacardi Rum with Coke to mix with, fuel in the car for the next week to get to and from work and still have enough left over for hamburger and fries.
Lived a house with three other guys and we never we’re out of food or beverage we would buy eight or 10 gallons of milk at one purchase and we had a refrigerator just to put that in and we had another refrigerator for beer and wine. Both of those are the old round top Kelvinator brand and we had a big over under refrigerator freezer in the kitchen with food and stuff in it and we each kick in $100 a week for groceries and we come out of the grocery store with paper bags back in those days and we have 15 or 20 maybe 25 bags of groceries and it wasn’t junk food and we had a little bit of money left over to buy stuff.
And in 1960 you could buy a real meal with loose change, the real silver and copper and nickel coins in your pocket.
Today all our coinage is debased, even pennies and nickels.
True. Between 1880 and 1960 the inflation rate was 100% in 80 years.
From 1960 to 2024 the inflation rate is over 900% in 64 years.
If you worked for $1 an hour in 1970, and had $10 representing 10 hours of work you could buy 50 gallons of gasoline.
If you misplaced that $10 in 1970, and found it today it would still represent 10 hours of your life, but you could only buy 3 gallons of gas with that ten hours of your labor.
The inflation decimal point has moved more than that.