- Robert Stewart - de Jong
- New Zealand
What would it take to drive global inflation back to levels equivalent to the early 1900s?
Conventional wisdom would say it's impossible but this is merely a discussion at this point so why not get creative?
To put this in perspective I read a newspaper article fromThe Press (Christchurch, New Zealand) from about 1920 in which it stated that if you were thrifty you could live fairly comfortably in christchurch on $3 a week.
Now, by comparison, $20 would barely feed me for a day let alone provide board and bed. thats a quite substantial growth in under 100 years and I'm convinced that profiteering has played a substantial part in accelerating it. For example if a a litre of milk costs $1, it would be sold to the supermarket for a $1.50 and the supermarket in turn would sell it for $2 when it should be, say, $1.20. each handler as upped the price by 50c when they could afford to raise it only 10c and still turn a profit. That is, after all, supposed to be the point of 'super'markets; they deal with so many products that they can afford to sell items at a loss because it's made up for by other items.
Please discuss :)