Gold in 1980 - $614
Gasoline in 1980 - $1.19/gal
Avg House in 1980 - $76k (@20% interest)
Gold in 2020 - $1773
Gasoline in 2020 - $2.60/gal
Avg House in 2020 - $285k (@3%)
So it looks like 1$^1980 ~= 3$^2020. That's not Zimbabwe by any means, but it does mean a dollar has lost 2/3 of it's purchasing power just in my lifetime.
Just looked it up. Your prices from 1980 aren't adjusted for inflation. You could also post the average income per hour which was $6 in 1980. Today it's over $22 an hour on average in the US. Seems like people make more than 3 times as much today as in 1980.
I don't know in which part of Canada you live, but here in Saskatchewan house prices are down from the high in 2015 and food prices aren't really up. I don't see any increase in grocery spending compared to other years.
Dude, gas is currently 93 cents where I live. Two years ago it was over $1.10 and during 2012 it was like $1.30. As for food, I didn't notice any increase in spending for food.
I doubt it. People said the same thing in 08/09 and it didn't happen. And it's not like we're the only ones with massive budget deficits.
Just look at the US. Do you think that they will also have a massive inflation problem?
Gold in 1980 - $614
Gasoline in 1980 - $1.19/gal
Avg House in 1980 - $76k (@20% interest)
Gold in 2020 - $1773
Gasoline in 2020 - $2.60/gal
Avg House in 2020 - $285k (@3%)
So it looks like 1$^1980 ~= 3$^2020. That's not Zimbabwe by any means, but it does mean a dollar has lost 2/3 of it's purchasing power just in my lifetime.
Just looked it up. Your prices from 1980 aren't adjusted for inflation. You could also post the average income per hour which was $6 in 1980. Today it's over $22 an hour on average in the US. Seems like people make more than 3 times as much today as in 1980.
I don't know in which part of Canada you live, but here in Saskatchewan house prices are down from the high in 2015 and food prices aren't really up. I don't see any increase in grocery spending compared to other years.
Dude, gas is currently 93 cents where I live. Two years ago it was over $1.10 and during 2012 it was like $1.30. As for food, I didn't notice any increase in spending for food.