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Originally Posted by Thymeclock
Yes, that's in one year. Compare prices over ten years and tell me there is no inflation.
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But you're changing the rules, now. We never said there was NO inflation, just that it's not anywhere near the food prices going up 100-200% a year range.
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I can remember that ten years ago gas was $1 a gallon (or even less). Over the ten year span, the price has quadrupled. So tell me there is no inflation.
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But that increase of price of gas has almost NOTHING to do with inflation (yes, there's been an underlying 2-3% inflation for years), and everything to do with increasing demand on a limited supply. If it was inflation, we would have seen the prices of everything go up by similar percentages, and they haven't.
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The ones hit the hardest are those who have to commute long distances to their work and have no alternative. They aren't nutso. You and I might be 'sitting pretty' but some are hit harder by price increases than others.
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They had alternatives. They could have found jobs closer to home (or homes closer to the job), arranged to telecommute, or simply have chosen to buy cars with good fuel economy rather than the oversized gas-guzzlers that so many of them did. Then they'd be sitting pretty, too. But they chose to ignore all the warnings that gas prices would keep going up and up, and cling to their "Gawd gave us the right to cheap gas!" fantasies.
There was a story in the New York Times a few days ago, about how after the last mega-tsunami (a few centuries ago) the Shoguns set up marker stones at the high-water mark, warning people not to build closer to the shore. And of course people ignored them, or treated them as quaint historical relics with no relevance to the modern world...
I don't know whether they're nutso or not, but they sure were stupid.