I was thinking that inflation has gone up about 1000 percent in my lifetime.
When I was a kid, stamps were 8 cents. Now, to be 66 cents. X8.
You could buy a nice house around here for $100,000. Now it’s a million. X10
A cheeseburger would cost maybe 80 cents. Now it’s $5 at least. X7
Gas was like 60 cents a gallon. Now $5 at least. X9
You could get a new car for maybe 3-4000. I just bought a new car for $20,000, good deal. X7
Just riffing on the massive inflation we have been subject to since we are indeed a fiat currency. I earn a lot more, too - minimum wage is higher, etc. - so it is all somewhat relative.
When I was a teenager in 1965 (Florida):
A working man could support a family on $12k a year.
Nice house - $24K now $300k
Stamps - 4¢
Cheeseburger 15¢
Gas 33¢ (yes, that was even without counting “gas wars”)
New car $3k (MGB Midget was advertised as the “only true sports car for under $2,000)
Apartment rental? $100 or less vs $1,200 now
What about taxes??? The more worthless dollars you earn, the more you pay in taxes.
“I was thinking that inflation has gone up about 1000 percent in my lifetime.”
I just got my wedding ring re-sized. I bought it in 79’ for around $40. The jeweler appraised it at $900. How much inflation is that?