Monday, August 31, 2009

Comments made in the year 1955

Sent to me by my father - yes dad, I read your damned emails ;>)

My 2 cents: After reading the comments below made 54 years ago, think for a moment - why has everything become so expensive since then? Answer: The Gvt has a planned agenda to devalue your money slowly over time (inflation).

Why would the government want to devalue your money? Well, all money in circulation today was actually borrowed into existence and it has to be paid back with interest. Problem is, that interest also has to be borrowed into existence. Realize however, that when it's the government doing all this borrowing, the debt never gets paid back, it merely gets rolled over into larger and larger loans over time (allowing our politicians to spend like drunken soldiers for their pet projects - in order to satisfy their financial backers and constituents who help them get reelected - but I digress) - thus all this borrowing creates higher quantities of currency (electronic or paper) - devaluing those dollars already in existance (more dollars chasing the same number of goods and services).

My main point and your take-away: The inflation rates you surmise from below, though seemingly high when looked at in hindsight - from todays lens - will pale in comparison to what we are likely to experience in the not so distant future - when the real inflation wave hits (due to a loss of faith in our currency and leadership) and the ensuing currency collapse will cause a hyperinflationary event that will bring us to our knees... for a period of time anyway - until a new currency (Amero?) is found and used to replace our worthless dollar.

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford

Comments made in the year 1955 - enjoy!

'I'll tell you one thing, if things keep going the way they are, it's going to be impossible to buy a week's groceries for $20.00.

'Have you seen the new cars coming out next year? It won't be long before $2,000.00 will only buy a used one.

'If cigarettes keep going up in price, I'm going to quit. 25 cents a pack is ridiculous.

'Did you hear the post office is thinking about charging 10 cents just to mail a letter

'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 29 cents a gallon. Guess we'd be better off leaving the car in the garage.

'I'm afraid to send my kids to the movies any more. Ever since they let Clark Gable get by with saying DAMN in GONE WITH THE WIND, it seems every new movie has either HELL or DAMN in it.

'I read the other day where some scientist thinks it's possible to put a man on the moon by the end of the century. They even have some fellows they call astronauts preparing for it down in Texas.

'Did you see where some baseball player just signed a contract for $75,000 a year just to play ball? It wouldn't surprise me if someday they'll be making more than the President.

'I never thought I'd see the day all our kitchen appliances would be electric. They are even making electric typewriters now.

'It's too bad things are so tough nowadays. I see where a few married women are having to work to make ends meet.

'It won't be long before young couples are going to have to hire someone to watch their kids so they can both work.

'I'm afraid the Volkswagen car is going to open the door to a whole lot of foreign business.

'Thank goodness I won't live to see the day when the Government takes half our income in taxes. I sometimes wonder if we are electing the best people to government.

'The drive-in restaurant is convenient in nasty weather, but I seriously doubt they will ever catch on.

'There is no sense going on short trips anymore for a weekend, it costs nearly $15.00 a night to stay in a hotel.

'No one can afford to be sick anymore, at $35.00 a day in the hospital, it's too rich for my blood.'

'If they think I'll pay 50 cents for a hair cut, forget it.'


Anonymous said...

ooooooh what irony :)


Ishkabibble said...

Yet more evidence that it's not the digit's value that matters, only it's existance for short term trade.

An interesting thing: if that 1955 money was invested into gold, it would have grown to buy more. $20 in gold then was more than a half ounce. Today, a half ounce of gold will buy a month's groceries.

Ishkabibble said...

Oh I have to point this out too... $1 minimum wage would have been 1/35th an ounce of gold per hour. In today's dollars, that's equal to a minimum wage of $27.

Randy said...

Excellent gold related points Ishkabibble.

1/2 oz gold today = ~ $500
$27 hr = $56K a year (not a bad annual wage)

Mike said...

Very interesting article, especially the comments from 1955. It really is a shame though how few Americans understand how the monetary system works here. The Fed's easy money policy is going to have serious long term consequences for the future of our country. So that's why I feel that one of the few ways for most people to protect their wealth is to invest in gold related assets. Here is a gold price site with macroeconomic analysis on gold and news on specific mining companies that could benefit from such a rise in the gold price.

Anonymous said...

Most people dont realize this country was basically built upon corruption from the get go. Right away the government was for the rich. Now in todays society its no different. They devalue our money, we have to make more to survive. To make more money we have to produce more labor bringing more and more product for the country, which much can be sold in and out of the country and bringing income from all over the world. Then taxes from all these producing companies going straight to the government. Then instead of using these taxes as well as their own share to make maybe try to find more gold, silver, platinum, whatever is of value to make an effort to pay this debt. But the funny thing is our currency its self, the dollar, is really nothing but a piece of paper saying I OWE YOU.. Its our own government, the people that take oaths to be for the people by the people, that has put this burden upon this great country and its residents. So now gold value is high but its like we give the government gold and in return get a bunch of papers saying I OWE YOU..

Well I'm done for now. Sorry if this is all a little scattered or A little off, I had a long night and was up quite early so I'm a bit tired.