“A grilled cheese worth $4 going for $12 and so on.”
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No, a grilled cheese sandwich that used to sell for twenty cents and now goes for four dollars will be selling for twelve and more. There is no actual limit to inflation. One gallon of pure gasoline without alcohol costs me four dollars now. There was a time in my memory when four dollars or less would fill the gas tank on a car. It is entirely possible for prices to triple in one day. There was a time in this country when anyone who wanted a meal and had no money could literally walk the road for a little while and pick up enough glass bottles to turn in for deposit to buy a meal. Now a person can work an hour at minimum wage and not make enough to buy a meal for one person. Not that I am pushing for a minimum wage increase, I don’t even believe in the concept but those who do look foolish asking for a fifteen dollar an hour minimum, if they think it actually works they should be asking for at least a hundred and fifty an hour.
If someone had told me when I was in grade school that one day I would earn $7.25 an hour I would have laughed, if they had told me that would be the minimum wage I would have thought they were as loony as Nancy Pelosi. That kind of money was reserved for people with advanced degrees or owners of very profitable businesses. At that rate most people would have figured that there was no need to even consider working more than twenty hours a week because they could spend the rest of the time having a blast. Many would have worked one day a week and been happy. Many were actually supporting families on a weekly pay that was less than what one day of the current minimum is in nominal terms. My mother worked in a sewing plant when I was three years old or so and a person now can earn in one hour what she earned in forty and have nothing to brag about.
Hi Rip, well I remember 29 cent gas as a kid and they filled up the car for you and gave you a free glass for a fill up.
But what was startling to me was how Italy, France, Spain, Greece and the rest had the even the poorest of the poor having to pay these 300% higher prices for the same goods as the United States. I think we are going to see our government go there as well. It is there way to raise new taxes.
The thing that gets me is their 100 year mortgages, their believing most things like their health care is near free when in fact they are getting ripped a new one and don’t realize they are having most of their personnel wealth stolen.