Re: OT: Inflation in the US

MooseFET wrote:

...
Stagflation started under Nixon. Remember the wage and price controls
and all the distortions it caused in the economy. This is part of
what messed up the US car industry among others.

I was born in 1952. Price controls were in effect which had been in place since the great depression, I guess. I believe it was sometime in the early 70's they did away with them. About 80% of the population owned their own homes, most of the rest were purchasing them from the banks, had 3 to 4 weeks vacation time, union pay scale/benefits whether the company was union or not, etc. I had heard about homeless people who were willing to work, just had never seen one.

Now, about 20% of the population own their own homes (the rest are either purchasing them from the gov't/bank or renting.) I see homeless people everywhere begging for work/education and loads of the "middle class" struggling.

To tell me we are better off is a very poor joke, been there, seen it. However, they have convinced the youngsters they are better off and things are only getting better.

Sure looks to me like we are heading towards another depression and price controls ... we shall see what the future brings.

Regards,
JS
.