Significantly less than a generation’s worth. 20% inflation is closer to 8 or 9 years worth of inflation. Inflation was a hell of a lot worse in the 70s and 80s. We notice it now because we have been used to <2% inflation for so long.
but nobody wants to talk about that. inflation being super low also is why the housing market exploded… because borrowing was incredibly cheap and asset prices rose far faster than labor prices. assets were super cheap in the 70s/80s and started exploding in the 90s when we started starting pushing interest rates to historic lows.
Significantly less than a generation’s worth. 20% inflation is closer to 8 or 9 years worth of inflation. Inflation was a hell of a lot worse in the 70s and 80s. We notice it now because we have been used to <2% inflation for so long.
bingo.
but nobody wants to talk about that. inflation being super low also is why the housing market exploded… because borrowing was incredibly cheap and asset prices rose far faster than labor prices. assets were super cheap in the 70s/80s and started exploding in the 90s when we started starting pushing interest rates to historic lows.