“During the great inflation of Ford/Carter, the purchasing power was drastically reduced. A five year period of 50% inflation caused a lot of problems for most of us.”
It was the main reason for me enlisting in the Army. My folk couldn’t afford to send me to college; they had problems of their own with a 22% mortgage on our house!
Doesn’t seem real, does it? 22%? Yikes.
Good advice, as always, Greeneyes!
Yes, it was getting a bit unreal and scary. I had just finished college, and took a part-time job in order to have a baby and spend time with her. That lasted 2 years, and then I changed to full time teaching math.
Then I switched from teaching to banking which increased my salary and benefits by 50%, after adjusting for additional costs of travel and parking etc.
Not sure how it would have turned out if things had continued. Thank you to President Reagan and Paul Volcker.
More and more businesses I deal with will only accept cash