It's 2012, almost 2013. We're approaching a "fiscal cliff"
of tax increases and spending cuts. Some people think we can just borrow
and keep on pumping money into the economy.
I recently received an email with some nostalgia
for the economic situation
back in 1955. Some excerpts:
I can remember my summer job in 1960, selling bakery products.
The cheap white bread was 22 cents/loaf. The most expensive
whole grain was 35 cents. A box of 6 doughnuts was 33 cents.
- If they raise the minimum wage
to $1.00, nobody will be able to hire outside help at the store.
- When I first started driving, who
would have thought gas would someday cost 25 cents a gallon.
- The fast food restaurant is
convenient for a quick meal, but I seriously doubt they will ever catch on.
Picture: McDonalds advertising 15 cent hamburgers.
- There is no sense going on short
trips anymore for a weekend. It costs nearly $2.00 a night to stay in a hotel.
- No one can afford to be sick
anymore. At $15.00 a day in the hospital, it's too rich for my blood.
- If they think I'll pay 30 cents for a haircut, forget it.
So who made all the money as prices rose to 2012 levels?
Are people in 2050 going to look back on 2012 prices with nostalgia?
For more price nostalgia, read my book
Hitch-Hiking from Maine to Alaska in 1962online.