“if one is old enough, we can recall a gallon of gas costing 98 cents”
That’s extremely high!
I was paying 13.9 cents/gal. for ethyl when I was in high school.
Even in 1974 until the crunch it was only 26.9 cents/gal.
Exactly, and now with the artificial inflationary pressures of 12% of GDP being federal spending, we will see price increases again, and that will destroy both savings and the value of debt instruments.
A T Bill is paying .28%, inflation is running (officially) at 2% meaning one is losing money if one purchases a debt instrument, and that will only grow worse as the porkulus monies spread throughout the economy.