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Posted: 6/27/2021 4:50:51 PM EST
[#1]
Quote HistoryQuoted: Inflation is and can be a problem. It's also necessary in moderation. The mythical golden era of financial predictability and stability pre 1913 was... not so. Inflation is never, ever necessary in any amount whatsoever. "But muh deflationary spiral!" No. Time preference is a thing. Deflationary spirals from consumers saving too much money are not a thing* (and people don't even save all at once anyway unless their individual cycles have been synced by the disproportionate influence of a market-insensitive actor like the Federal Reserve). Deflationary spirals are certainly not a thing at OHMAGERD 3% deflation/year. As of the past few decades we now know that they don't even happen at 30% [price] deflation/year either, as proven by the fact that you bought a device to type on which rapidly depreciates in cost every year. Price deflation over time, with a stable money supply, is a good thing signaling that increases in production efficiency are being passed on to the consumer, rather than "silently skimmed off the top" by a parasitic elite or profligate-spending government. And no, there was never a mythical era of financial predictability and stability, mostly because the Federal Reserve had many predecessors who manipulated the money supply over the short term (not just the first and second banks). That said, their scope and arrogance never reached the same scale, so we didn't end up with long-term depreciation of the dollar from 1800 to 1913, and we didn't have any Great Depressions until the Fed came around either. *(Now, catastrophic deflation from unwinding a heavily leveraged money supply...that's a very destructive thing, but the actual problem is a market-insensitive actor centrally encouraging the unchecked monetary expansion which leads to it.) |
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Posted: 6/27/2021 4:53:46 PM EST
[#2]
Gen Xer here, but I remember dad buying us a 'night out dinner' for around $20 or less.
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Posted: 6/27/2021 5:02:29 PM EST
[#3]
Quote HistoryQuoted: In the 70's, I could put a tank of gas in my Hot Rod, then take the H.S. sweetie to Pizza Hut, for a large pizza, hang out with the rest of the "gut" crew. Afterwards, I could cruise the Gut until bedtime. 10ring  Sounds about right. 8-10 bucks to fill up the car , about 3.75 for a case of beer. Cruise with the girlfriend for a while and pick up a pizza , head home and drink beer and eat pizza and have her for dessert. Breakfast the next day was never more than 5 bucks for the 2 of us. |
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Posted: 6/27/2021 5:03:42 PM EST
[#4]
Boomers will buy a harley hat w that $20. Its fast
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Posted: 6/27/2021 5:10:12 PM EST
[#5]
gas was 89 cents when I was growing up. We used leaded fuel and it didnt burn the skin if you used it for parts washing.
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Posted: 6/27/2021 5:25:33 PM EST
[#6]
Boomer here. $20 would pay for dinner and a movie for me and a date back in the sixties.
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Posted: 6/27/2021 5:28:14 PM EST
[#7]
Keep the inflation coming. Takes $$ out of boomers pockets and puts it into my mortgage.
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Posted: 6/27/2021 5:29:23 PM EST
[#8]
4 bricks of wildcat .22
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Posted: 6/27/2021 5:30:48 PM EST
[#9]
Quote HistoryQuoted: a full tank of real gas for my Pickup. As a late model genXer, I was able to do that until 1998 or so. |
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Posted: 6/27/2021 5:31:18 PM EST
[#10]
Quote HistoryQuoted: In Olongapo city, Philippines in 1984, $20.00 would buy your dinner, a blow job, beers all night including rounds, and a trike ride back to the gate at Subic Bay in the morning. Yes it could. |
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Posted: 6/27/2021 5:34:25 PM EST
[#11]
That was a down payment on a house for those assholes.
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Posted: 6/27/2021 5:37:52 PM EST
[#12]
That was dinner for two at the steakhouse or Japanese restaurant.
$9 more dollars was two movie tickets, two drinks and popcorn was $5 In 1985 I could mow a few yards Saturday and take my date out in style. And with my brand new Pontiac Fiero I was a King at 16 yrs old  Car was such a maintenance nightmare when it hit 100k miles.  |
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Posted: 6/27/2021 5:38:51 PM EST
[#13]
Quote HistoryQuoted: Not a boomer, but I think that 1998 cart is pushing the limit of credibility if it isn't mostly full of ramen noodles or something. In 1978-1979 or thereabouts, I remember going grocery shopping with my grandmother. She spent right at $100 for a cart that was overflowing with groceries. this was a single cart, but it was stacked high with hamburger, bacon, cereal, fresh vegetables, cheese, sandwich bread, milk, butter, ri8ce, flour, beans, corn, all kinds of things. Also back then, there wasn't nearly the amount of prepackaged, processed food that there is now. "Dinner" had to be cooked, and we didn't get a microwave until the late 80's. But that $100 bought a LOT of food. $20 wouldn't have filled that cart to overflowing, but I'm sure you could feed a family for a week on it. Back then, there simply wasn't as much expensive shit like lunchables. They had TV dinners, but it was very rare to actually buy them. And while we always had orange juice, they always bought the frozen concentrate and mixed it with water to make orange juice. The fresh stuff in a carton or bottle only started appearing in the 80's, at least to my memory. |
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Posted: 6/27/2021 5:40:09 PM EST
[#14]
Since "1913" the dollar has lost over 90% of it's value, it was 93% a few years back.
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Posted: 6/27/2021 5:47:59 PM EST
[#15]
How far back do you want to go? In 1955 $20 would get you:
200 comic books Or 400 Three Musketeers bars Or 2000 pieces of Double Bubble or Bazooka bubble gum Or 111 loaves of bread |
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Posted: 6/27/2021 5:51:10 PM EST
[#16]
Millennial here but I remember when I could fill up my mustang for the week and get me and a date a movie ticket for $20.
Didn't last long though, I caught the tail end of cheap gas and movie tickets. |
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Posted: 6/27/2021 5:53:06 PM EST
[#17]
Quote HistoryQuoted: You must have had a pathetically small fuel tank then. Quote HistoryQuoted: Quoted: Stop it with the boomer shit. In 2000 I could fill up my tank and get a hamburger for lunch with $20. You must have had a pathetically small fuel tank then. My mustang had a ~15 gallon tank. I'd usually burn ~10 gallons in a week, at $1/gal, and $4 movie tickets. |
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Posted: 6/27/2021 5:56:54 PM EST
[#18]
Boomer here, I'll prove that by saying I can't remember. Definitely lunches for most of the week.
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Posted: 6/27/2021 5:58:24 PM EST
[#19]
80 games of Centipede, Galaga, Defender,
Donkey Kong, Pac Man, Dig Dug. |
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Posted: 6/27/2021 6:04:53 PM EST
[#20]
10 cartons of cigarettes.
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Posted: 6/27/2021 6:05:28 PM EST
[#21]
When I was in high school $20 made you a king.
I'd roll into the local gas station and get a full tank of gas, hot dogs and sodas for all of my friends, 4 cartons of Marlboros, 4 cases of beer, a bottle of cheap whiskey, and you'd still have enough money left over to go to the movies. Can't do that anymore though. Too many security cameras these days. |
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Posted: 6/27/2021 6:20:44 PM EST
[#22]
When I got married in 1976, our weekly groceries averaged $25 a week. Three fill ups of my wife's 1969 LeMans. Was making $5.80 an hour when I purchased my first house in 1977. The mortgage interest rate was 8.5%. My daily dividend savings account paid a 5.75% interest rate.
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Posted: 6/27/2021 6:40:52 PM EST
[#23]
In the 70s 20 dollars would fill my gas tank, $2.50. Buy a carton of cigarettes, $2.50, buy a 4 finger lid of grass $10.00
and a trip to Bob's Big boy for 4 people...a must after getting into the lid of grass. |
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Posted: 6/27/2021 6:46:49 PM EST
[#24]
Boomers, LOL leftist BS.
However, $20.00 was great. I remember being able to fill my car up, buy a pack of cigarettes, some snacks, and still have some change. Pretty much enough for a party night. |
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Posted: 6/27/2021 6:49:35 PM EST
[#25]
Not a boomer, but my parents are. In the late 90's (when I graduated from high school) a $20 bill would get you a carton of Marlboros and five gallons of gas.
 Shit I worked at a McDonald's then- the Big Mac and Quarter Pounder meals were $3.24 (that includes tax). |
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Posted: 6/27/2021 6:50:01 PM EST
[#26]
Early boomer.
My father paid our grocery bill once a month at the local market. For a family of six it ran $100-$115 per month in the 50's. In the early 60's bought milk for 50 cents a gallon and hamburger with fat in it four pounds per dollar-- less fat was three pounds per dollar. In the 70's as an adult I bought round steak on sale for 99 cents a pound and that was after the Carter inflation. In high school gas was typically 28 cents a gallon but sometimes as low as 19 cents during gas wars. |
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Posted: 6/27/2021 6:55:48 PM EST
[#27]
Mid to late 1980's I think I paid $0.59/gallon for gas. $20 filling a cart of groceries have never been in my lifetime at 50.
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Posted: 6/27/2021 6:59:42 PM EST
[#28]
LoL that picture is bullshit
Since 2001 I have been getting the 2 for $20 at chili’s |
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Posted: 6/27/2021 7:02:17 PM EST
[#29]
When I was a kid a 100 dollars in grocery's was a lot of food. Today, its 400 for the same weeks worth of food.
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Posted: 6/27/2021 7:06:49 PM EST
[#30]
500 rounds of the old white box Russian 762x39.
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Posted: 6/27/2021 7:10:40 PM EST
[#31]
You must be younger than me...I could get a 4 finger ounce for $20
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Posted: 6/27/2021 7:13:53 PM EST
[#32]
In the 80s I thought mom was rich with 100 bucks. Get a shit ton of groceries and have money left over for gas, which she would spend on cigarettes and run us out of gas.
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Posted: 6/27/2021 7:15:06 PM EST
[#33]
Dinner for 4 at a fast food place with money left over.
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Posted: 6/27/2021 7:15:51 PM EST
[#34]
$5 would last me all week in college.
I remember getting 5 hot dogs for a dollar at a high school basketball game. Getting a chocolate milk and honeybun for a quarter, or a large Baby Ruth and a Coke. |
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Posted: 6/27/2021 7:24:40 PM EST
[#35]
Quote HistoryQuoted: Not a boomer, but I think that 1998 cart is pushing the limit of credibility if it isn’t mostly full of ramen noodles or something. This. I remember spending about $100 for a cart of groceries in '98. Now it's about $175. I was born in '71. |
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Posted: 6/27/2021 7:48:53 PM EST
[#36]
Way back in the mid 70’s when I was a teenager. $20.00 bought me a pint of Bacardi 151 rum and 3/4 of a tank of gas. Plus $10.00 left over. Got the Coke for free for the mixer. Me and my buddies where good for a Saturday night.
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Posted: 6/27/2021 7:49:57 PM EST
[#37]
Ask the boomers how they used to put quarters in stripper g strings before inflation took it to a dollar
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Posted: 6/27/2021 7:58:03 PM EST
[#38]
Quote HistoryQuoted: Ask the boomers how they used to put quarters in stripper g strings before inflation took it to a dollar We stuck them into the built in slot. |
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Posted: 6/27/2021 8:01:21 PM EST
[#39]
Quote HistoryQuoted: Your ignorance of monetary history is astounding. Quote HistoryQuoted: Quoted: ... was in place until 1933. 1913 ushered in the Fed, and also marks the furthest back CPI calculations go. Inflation was a major political issue in that era, with WW1 having a lot to do with it. This, despite the gold standard. Your ignorance of monetary history is astounding. OK, point out where I am wrong then. Should be easy. |
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Posted: 6/27/2021 8:06:10 PM EST
[#40]
12 oz prime rib dinner and one drink.
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Posted: 6/27/2021 8:07:53 PM EST
[#41]
X-er, not boomer, but my parent's mortgage payment was $115, 30 years, from '54 to '84.
So $20 was a bit shy of one week's mortgage payment. Let's call it 1/6th. They bought the place for $14K. Currently appraised at $600K. Current financing estimate is about $2450/mo, 1/6 of that is $408. So 20 times the cost. More recently, since I keep decent records... 1996: I bought a DSA SA-58 for $447 carbine ... today it's $1945. 335% 1997: Bought a brand new jeep TJ, no trade, $22K ... Closest equivalent today is $36K. 63% Official inflation is 66%. Looking over my account statements, I bought a lot of dinners for 4 at mid-range steakhouses in the mid 90s for $100-$120. Today they'd be around $300-$400. Agree with the others... $20 in 1998 is not filling a shopping cart. |
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Posted: 6/27/2021 8:09:22 PM EST
[#42]
2 costco packs of kleenex for soaking up the tears of what the Boomer generation allowed to happen to this country
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Posted: 6/27/2021 8:42:12 PM EST
[#43]
In the 70's-brick of 22 LR (FEDERAL, 500 RDS.) from Montgomery Ward for $5.00. .303 Jungle carbine unissued-$39.00. Colt .45 series 70 MKIV- $125.00. Surplus 30-06 ball for $.06/rd. Primers-$.69/100. Browning Challenger .22 for $87.00. Browning .22 T Bolt for $65.00. VW bias ply tires-$10.00 each. Starting salary Naval Surface Weapons Center (Electrical Engineer) $9725.00.
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Posted: 6/27/2021 8:54:24 PM EST
[#44]
Quote HistoryQuoted: Ask the boomers how they used to put quarters in stripper g strings before inflation took it to a dollar We just put the roll of quarters down on the stage in the vertical position. The really talented ones could give exact change... |
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Posted: 6/27/2021 9:01:15 PM EST
[#45]
Hell I'm 36 and can remember when 20 bucks would buy 20 gallons of diesel and very nearly a pack of Marlboros. This was 2001. Diesel was 95 cents/gallon and Marlboros were $1.25/pack. If you were poor that day you could buy a pack of Tough Guys at the pool hall for 90 cents.
ETA: Yes I know tobacco taxes are the big reason cigarettes are so high now. |
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Posted: 6/27/2021 9:08:35 PM EST
[#46]
Bought a keg for about $16 every weekend in college. A cup of beer was about $2 in the dining hall.
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Posted: 6/27/2021 9:13:15 PM EST
[#47]
Not a boomer, but I remember the 80’s and 90’s pretty well. If you have any real interest, just convert to something tangible and trackable like R.E, Silver or Gasoline. $20 was worth 3-4 times more than today.
Even up through 2006, $20 would buy you 1100 rds of .22 at any Walmart. Or, 200 rds. of 9mm IOW, You are much, much poorer than you realize. |
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Posted: 6/27/2021 9:18:16 PM EST
[#48]
Quote HistoryQuoted: 2 costco packs of kleenex for soaking up the tears of what the Boomer generation allowed to happen to this country |
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Posted: 6/27/2021 9:21:43 PM EST
[#49]
Quote HistoryQuoted: In 95, $5 would by two gallons of gas, a pack of Marlboros, and a 20oz Dr. Pepper. |
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Posted: 6/27/2021 9:26:36 PM EST
[#50]
A real decent “date” with a good quality professional.
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