$1 in 1980 is worth $3.73 today

[iamwhatiseem]

Only thing that matters......
The two of us spent between $80 - $120 a week at the grocery store before.
Now we spend between $160 - $220.
We are not feeding more than two people - AND - we are buying cheaper cuts of meat than before.
If we bought the exact same stuff we would likely be between $180 - $250.

This is happening to every American family.

 

[YoursTruly]

You can't possibly this dumb...

View attachment 839755

I'm not dumb. Because the CPI isn't immediately increased when the government dumps trillions into the economy. Inflation doesn't automatically and immediately increase prices. Those things take time to show up in the economy and prices.

You're misreading this graph as to say Biden initiated the increase just by stepping into the white house.
A lot of the increases that shows up during Trump, were from Obama. A lot of the increase under Biden came from Trump. The next president will have increases that came from Biden. That's just how it works in reality.

 

[Mr Natural]

Prices tend to double every 10 years or so so that $3.73 to the $1.00 seems about normal.

 

[YoursTruly]

Only thing that matters......
The two of us spent between $80 - $120 a week at the grocery store before.
Now we spend between $160 - $220.
We are not feeding more than two people - AND - we are buying cheaper cuts of meat than before.
If we bought the exact same stuff we would likely be between $180 - $250.

This is happening to every American family.

There's more that matters than what your thinking. As in how and why those prices increased.
Price increases from inflation comes from the government dumping trillions of new money into the economy. Making the existing money (in your bank and pockets) worth less.
Every president since Reagan, has done this. With the exception of maybe Clinton, who was forced by the GOP to reduce spending and stop dumping so much new money into the economy.

It's not so much which president who increased inflations by dumping new money into the economy. Obviously they're responsible for it. But it's more along the lines of how much new money they gave out.
Inflation is nothing more than too much money in the economy. Trump dumped $8 trillion in 4 years. Obama dumped 8 trillion in 8 years. Biden will probably reach $8 trillion in 4 years. That's $24 trillion of new money in just 16 years. That's a LOT of new money. And it's creating a lot of inflation.

The cure for this is to stop the printing presses and stop supporting these big spending Republicans and democrats. It seems like they're trying to dig us out of a hole. And we the people keep dumping their buckets and passing it down to them to fill up again.

 

[iamwhatiseem]

I'm not dumb. Because the CPI isn't immediately increased when the government dumps trillions into the economy. Inflation doesn't automatically and immediately increase prices. Those things take time to show up in the economy and prices.

You're misreading this graph as to say Biden initiated the increase just by stepping into the white house.
A lot of the increases that shows up during Trump, were from Obama. A lot of the increase under Biden came from Trump. The next president will have increases that came from Biden. That's just how it works in reality.

On average it takes about 15 months for most events to cause inflationary response.
I made my case for what created this mess before.
Trumps initial response to Covid, and his two Covid giveaways created minor pressures.
The global response which resulted in dramatic raw material shortages here in the states, caused more pressures.
So if Biden did nothing, yes there would have still been inflation.
But nothing like what we have. Biden is, indeed, responsible for that.
How?
Despite everyone practically pleading him to stop unemployment Covid bonuses, he not only extended them - he did it twice. Then he did his own covid giveaways. Twice again. Extended student loan deferments to the point of idiocy. Extended rent deferments. And gave additional large Covid direct payments for businesses all the way to this year that made no sense whatsoever.
All of this created massive demand for goods at a time when there were significant shortages still.
And THAT caused the record inflations we suffer for now.

 

[excalibur]

Trump spent almost as much in 4 years as Obama did in 8.

Trump didn't double the debt as Øbama did.

Trump also had to deal with the Chinese Virus that was unleashed on the world.

 

[MisterBeale]

You just didn't read it right. $1 has the same purchasing power as today $3.73. Meaning that was you could buy for $1 then, now cost you almost $4.

Given how folks reacted to my post? I believe I have reading comprehension skills which are just fine. IMO? I believe it is you propaganda skills which are in question.

 

[YoursTruly]

Given how folks reacted to my post? I believe I have reading comprehension skills which are just fine. IMO? I believe it is you propaganda skills which are in question.

If you're trying to get me to say Biden sucks, you missed the 100,000 other times I've already said it. You're problem is you can't that when Trump does something like increase the debt ceiling, and when Biden does it, it was wrong BOTH times. Not just when Biden does it.

 

[YoursTruly]

On average it takes about 15 months for most events to cause inflationary response.
I made my case for what created this mess before.
Trumps initial response to Covid, and his two Covid giveaways created minor pressures.
The global response which resulted in dramatic raw material shortages here in the states, caused more pressures.
So if Biden did nothing, yes there would have still been inflation.
But nothing like what we have. Biden is, indeed, responsible for that.
How?
Despite everyone practically pleading him to stop unemployment Covid bonuses, he not only extended them - he did it twice. Then he did his own covid giveaways. Twice again. Extended student loan deferments to the point of idiocy. Extended rent deferments. And gave additional large Covid direct payments for businesses all the way to this year that made no sense whatsoever.
All of this created massive demand for goods at a time when there were significant shortages still.
And THAT caused the record inflations we suffer for now.

Trumps massive spending started long before covid. His first spending bill was $1.4 trillion. Him and Ryan were pretty good shopping partners. But WOAH, when him and Pelosi started spending, it went through the roof.

 

[Kruska]

$1 in 1980 is worth $3.73 today​

$1 in 1980 is equivalent in purchasing power to about $3.73 today, an increase of $2.73 over 43 years. The dollar had an average inflation rate of 3.11% per year between 1980 and today, producing a cumulative price increase of 272.60%.

Correct - but this has nothing directly to do with Trump or Biden. It factually applies all over the Globe - aside those countries faced additionally with hyperinflation.
It starts off with the USA and Reagan - at that time the average interest-rate was 17%+ and the economy had stalled.
In order to "activate" consume - interest-rates were drastically dropped and State Debts were taken on - the World, Europe, e.g. Germany followed the same idiotic path some 10 years later. E.g. in 1980 the average loan interest-rate in Germany was around 15% (and it was almost impossible to get a consumer bank-loan), from 1990 onward it was around 7%, presently around 3-4%.

Today all countries are into State-debts, up and over their necks - the same issue applies towards private households debts&loans.

It is a spiral that won't stop, till a new currency evaluation system might be introduced.

 

[Lakhota]

Trump spent almost as much in 4 years as Obama did in 8.

Obama was obligated to pay for Bush's two wars and two tax cuts in the middle of two wars.

How much new debt did Obama create that wasn't a direct/indirect result of Bush actions/policies?

 

[YoursTruly]

Obama was obligated to pay for Bush's two wars and two tax cuts in the middle of two wars.

How much new debt did Obama create that wasn't a direct/indirect result of Bush actions/policies?

Obama paid W's debt. Trump paid Obama's debt. And Biden is paying Trumps debt.

But we pay for them all.

Fuck Obama, Trump and Biden. There's a HUGE amount of cuts that can be made. There's a HUGE amount of government employee's that can be fired. There's a huge amount of lobbyist that can be run out on a rail.

There's a huge amount of changes that need to take place. Within a decade, BRICS is going to change it for us.

 

[g5000]

Maybe this will help he Trump supporters understand why it's important to NOT support someone who's spent $8 trillion in just 4 years and increased the debt ceiling twice. Plus suspended it for 2 full years.
13.31% since Biden.
28% since Trump. In the 4 years of 12.9% during Trump
11.47% during Obama.

$1 in 1980 is worth $3.73 today​

$1 in 1980 is equivalent in purchasing power to about $3.73 today, an increase of $2.73 over 43 years. The dollar had an average inflation rate of 3.11% per year between 1980 and today, producing a cumulative price increase of 272.60%.

This means that today's prices are 3.73 times as high as average prices since 1980, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 26.810% of what it could buy back then.


The inflation rate in 1980 was 13.50%. The current inflation rate compared to last year is now 3.67%. If this number holds, $1 today will be equivalent in buying power to $1.04 next year. The current inflation rate page gives more detail on the latest inflation rates.

How much was a PC in 1980? How much RAM and hard drive could you get?

Without a small amount of inflation, you can't have strong economic growth.

​

​

1981​

• Notable computer: IBM Personal Computer 5150
• Price tag: $1,565
• Inflation adjusted price: $4,332

The PC 5150 was IBM's most successful attempt at a personal computer at the time and was used as the basis for most computers that followed. The basic unit sold for $1,565, and the full model for $3,000.

Check out how much a computer cost the year you were born

24/7 Wall Street identified the price of a specific computer representative of each year between 2016 and 1971 -- the year the first personal computer was released.

www.usatoday.com

 

[Toddsterpatriot]

Trump spent almost as much in 4 years as Obama did in 8.

Wow! That's some bad math you're using there.
Are you a liberal?

 

[Toddsterpatriot]

Obama was obligated to pay for Bush's two wars and two tax cuts in the middle of two wars.

How much new debt did Obama create that wasn't a direct/indirect result of Bush actions/policies?

Poor Obama! Why didn't he raise rates back to 70%?
He had huge majorities in the House and Senate, why was he such a weak pussy?

 

[YoursTruly]

COVID? Prog states shutdown. Joe and the gang printing money like loan sharks lending it out at high rates. Joe lying.

Yeah, and Obama spent all the initial costs for the ACA, and still came up just over what Trump spent in 4 years.

FFS, stop trying to defend a lifelong NY democrat. You Trumpbots can't run from, or sugar coat Trumps actual record. It worked for a while. But no more.

 

[YoursTruly]

How much was a PC in 1980? How much RAM and hard drive could you get?

Without a small amount of inflation, you can't have strong economic growth.

​

​

1981​

• Notable computer: IBM Personal Computer 5150
• Price tag: $1,565
• Inflation adjusted price: $4,332

The PC 5150 was IBM's most successful attempt at a personal computer at the time and was used as the basis for most computers that followed. The basic unit sold for $1,565, and the full model for $3,000.

Check out how much a computer cost the year you were born

24/7 Wall Street identified the price of a specific computer representative of each year between 2016 and 1971 -- the year the first personal computer was released.

www.usatoday.com

A small amount of inflation is what we got before Carter & Reagan. A slight increase for like 100 years.
Then it went KA FUCKING BOOM !!!!!!!

 

[DudleySmith]

My first PC cost almost $3,000 and had a 20meg hard drive. I never filled it past 9 meg, and had all kinds of crap on it, games, Wordperfect, spreadsheets, etc.

And, take the govt. claims of inflation and double it at the least. They have a vested interest in lying through their teeth about real inflation, always have. Gold is still the base international money, and will be for a long time to come. Even Milton Friedman's estimate of what minimum wages should be if adjusted for real inflation was around $43 K almost 20 years ago. If the MB battery hadn't finally given out I would still be using it.

 

[Toddsterpatriot]

Yeah, and Obama spent all the initial costs for the ACA, and still came up just over what Trump spent in 4 years.

FFS, stop trying to defend a lifelong NY democrat. You Trumpbots can't run from, or sugar coat Trumps actual record. It worked for a while. But no more.

Yeah, and Obama spent all the initial costs for the ACA

He budgeted the student loan profits to pay for Obamacare.
How many trillions more will we waste on Obama's mistakes?

 

[Bleipriester]

Given how folks reacted to my post? I believe I have reading comprehension skills which are just fine. IMO? I believe it is you propaganda skills which are in question.

Shit, I have the first right now! Can´t afford a piece of paper though and ketchup is running out - but hey: Everythings fine!