- Robert Stewart - de Jong
- New Zealand
This conversation is closed.
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 :)