The question has been answered by others.
Inflation and the cost of capital is one answer.
But, read the other answers on the thread. There are some really smart folks here. But to assume that the way things were thirty years ago are constant is just not a practical way to look at things. Think about how you do everything today compared to thirty years ago. Has it changed? Is it more simple, or more complex.
The financial world rarely moves in a straight line.
Thank you
Governments seek inflation to remain in power, but unless you are living on “other peoples money,” inflation is bad for individuals.
Deflation is good for those that live wisely, and disaster for those that live foolishly.
Falling prices are good for consumers, and bad foe tax collecters.
Let the cry babies cry, I’m ready for a solid round of deflation, so that I can sell my gold to the banks at my terms when deflation has them in freefall.
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