1945 - total income - $1,560. My folks bought a house in 1955 and paid $5,000 for it! That wasn’t the down payment - that was the entire cost of a new house back then!
At least it looks like Mutt and Jeff are back during the week. I wonder what became of the Sunday strip?
According to the inflation calulator at http://www.westegg.com/inflation/infl.cgi –
“What cost $1560 in 1945 would cost $18472.59 in 2008.”
Most people are fooled into thinking inflation means rising prices. That fails to distinquish cause and effect. The cause is government creating money out of thin air; the effect in this case is to bid up all prices.
There are many things that serve as money in a modern economy: not just cash but bank balances, credit card spending limits, many kinds of bonds, etc. This gives the Federal Reserve many options on how to insert money into the economy. Do it one way, consumer prices go up. Do it another, and the stock market goes up. And most recently, housing prices explode and set the stage for the current crisis.
But nowadays folks are not aware enough of market economics to understand that putting the government in charge of the money supply is putting the fox in charge of the henhouse. People don’t even think that’s a problem, and their minds are closed to the disirability–and historical fact–of privately issued money which the government cannot manipulate for political ends.
I understand that you can go on eBay and buy Zimbabwean money. I recently saw a Zimbabwean 100 TRILLION dollar bill. Worth a few bucks. I don’t believe the U.S. will go that far, but folks, get ready, because when the effects of a trillion dollar American deficit kick in, Jeff’s annual salary will seem like pocket change, and Obama’s promise not to raise taxes on people making less than $150,000 will be worthless since that will become an average salary.
DebJ4 over 15 years ago
1945 - total income - $1,560. My folks bought a house in 1955 and paid $5,000 for it! That wasn’t the down payment - that was the entire cost of a new house back then!
At least it looks like Mutt and Jeff are back during the week. I wonder what became of the Sunday strip?
Yukoner over 15 years ago
In 1945 that was a pretty good wage. Ask any returning service man.
farren over 15 years ago
When I joined the Navy in 1967, I got the stupendous sum of $88 per month. My dad, who joined in 1941, got much, much less.
GROG Premium Member over 15 years ago
Like they say: It’s an oldie, but a goodie
BarrettH Premium Member over 15 years ago
This one is definitely from the 40’s
Dberrymanal1 over 15 years ago
Those were the days alright. If only we could go back to them!
B1d over 15 years ago
Why has the Sunday Mutt & Jeff strip for the past 2 weeks been missing?
B1d over 15 years ago
Why has the Sunday Mutt & Jeff strip been missing for the weeks Jul 07 and Jul 12??
pschearer Premium Member over 15 years ago
According to the inflation calulator at http://www.westegg.com/inflation/infl.cgi – “What cost $1560 in 1945 would cost $18472.59 in 2008.”
Most people are fooled into thinking inflation means rising prices. That fails to distinquish cause and effect. The cause is government creating money out of thin air; the effect in this case is to bid up all prices.
There are many things that serve as money in a modern economy: not just cash but bank balances, credit card spending limits, many kinds of bonds, etc. This gives the Federal Reserve many options on how to insert money into the economy. Do it one way, consumer prices go up. Do it another, and the stock market goes up. And most recently, housing prices explode and set the stage for the current crisis.
But nowadays folks are not aware enough of market economics to understand that putting the government in charge of the money supply is putting the fox in charge of the henhouse. People don’t even think that’s a problem, and their minds are closed to the disirability–and historical fact–of privately issued money which the government cannot manipulate for political ends.
I understand that you can go on eBay and buy Zimbabwean money. I recently saw a Zimbabwean 100 TRILLION dollar bill. Worth a few bucks. I don’t believe the U.S. will go that far, but folks, get ready, because when the effects of a trillion dollar American deficit kick in, Jeff’s annual salary will seem like pocket change, and Obama’s promise not to raise taxes on people making less than $150,000 will be worthless since that will become an average salary.