Sunday, May 01, 2011

Don't Blink

I drove by the Cos Cob Gulf station (across from Dunkin Donuts) and noticed its price for regular was $4.29. That was a painful sight but after dropping off a shipment at Packages Plus and going back the other way – elapsed time, 7 minutes? – I saw that the price was now $4.41. Owie.

-Blogger in Connecticut

So the printing presses ran, and once they began to run, they were hard to stop. The price increases began to be dizzying. A student at Freiburg University ordered a cup of coffee at a cafe. The price on the menu was 5,000 Marks. He had two cups. When the bill came, it was for 14,000 Marks. "If you want to save money," he was told, "and you want two cups of coffee, you should order them both at the same time."

-George Goodman, Paper Money


Anonymous KAIMU said...


A month ago I watched the movie BULLITT, with Steve McQueen, circa 1969. It was filmed in San Francisco and in one scene he was walking along the Embarcadero, which is right across the street from the SF Bay. As he came to a corner there was a billboard behind him advertising for the HOTEL DANIELLE. For one night the price was $1.75 and for a week $7! Hey, I was working back then making around $1.30 an hour, as I believe minimum wage was $1.20. Do the math. To pay for a weeks stay at the HOTEL DANIELLE back in 1969 I had to work at my piddly hardware store job around 5.4 hours, not even a day, plus I had change left over for food($3.38). How many hours do you have to work today to stay at the MOTEL6 San Francisco for a week?

A good job here in Hawaii now is a FEDEX driver. Starting out they make around $18 per hour+ benefits here. My local HILO HAWAIIAN HOTEL costs $109 per night or at the weekly discount rate around $650(free night). A FEDEX driver who makes way more than minimum wage has to work some 36 hours for a weeks stay at the HILO HAWAIIAN HOTEL or over 4.5 days and there is no change left over for food or even a beer! Minimum wage now is $8.75 per hour and if you are a farm worker it is $5.45 per hour. You could get by in 1969 on minimum wage you simply cannot now. Have prices gone up or has the purchasing power, the long term store of value, of our dollar gone down? We live in a country where our dollar is now debt and prices are embedded with decades of spending and debt issues by the same US Congress that promises CHANGE if we will just vote for them again ... "Oops, but first we need to raise the DEBT CEILING another $3TRIL!"


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