Empty Every Pocket: What You'll Pay for Stuff in the Future
We’ve all heard grandpa’s stories about how he used to buy a house for eleven cents, but most of us haven’t given much thought to what we’ll pay for stuff in 30 years.
So, I checked it out. Even with a tame estimate of four percent inflation, the numbers were blasting past psychological price barriers that seem almost impossible.
By 2033, a Big Mac will be cracking ten dollars.
By 2034, a movie ticket will break twenty bucks, and that six dollar popcorn will be pushing $14.
By 2026, the humble Honda Civic will be a $30,000 car, racing past $60,000 in 2043.
In 2031, video games will be flirting with the $100 mark.
In 2026, gasoline will be $5 at best, with spikes hitting 6 or 7 dollars.
While all of this likely, none of it is inevitable. Inflation is not a fact of life. It is being imposed on you by a group of professional assholes at the Federal Reserve. Inflation is an invention of money-printers, not a law of physics. There is no iron-clad rule of economics requiring that everyone have their savings stolen by some idiot at the Fed. These are the same idiots that will tell you rising prices are good for you, while falling prices are bad. Surprise, they're in charge of your money!
It was not always this way.
Unfortunately, everyone who remembered the days before inflation is dead. Don’t forget, the Fed was brought you by the same guys who brought the US World War I, Prohibition, the income tax, and through terrible deal-making, Hitler and World War II. So, you can bet dollars to donuts that the Federal Reserve was a bad idea, too.
But wait! There is a better way, and it is simple.
Stop printing money.
Just stop. Not a little bit of printing. Not less printing. No printing. No new dollars. There are enough. There were enough in 1970. Adding a zero doesn't fix anything.
The quick fix is to stop doing the stupidest possible thing every single second of the day.
Yes, that will cause a cascade of bankruptcies, yes it will hurt bankers really badly. Yes, it will cause huge writedowns of bad debt.
And then the sun will come out, and well all remember what not to do next time.