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Re: Re: Re: Re: Fifty Year Ago Cost
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Posted by Steve from Mo on February 25, 2004 at 12:48:41 from (168.166.54.11):
In Reply to: Re: Re: Re: Fifty Year Ago Cost posted by Bill Smith on February 25, 2004 at 12:28:21:
Considering that inflation is still way low right now, we can deal with it. It's a lot easier to deal with inflation than deflation. You can add a zero every 30-40 years. Plus, the car/house/tractor/television/stereo you are buying now is probably three or four (or a hundred) times better than the one you would have bought with that same inflation-adjusted money 20-30 years ago. Deflation would create havoc in the banking system because everything that is security for a loan would become less valuable in dollars over time. If the value of a house goes below a certain ratio to the loan, the lender has to either demand payment of the "excess" loan amount or foreclose. Deflation almost always happens because lots people are not working and are not making money. So there wouldn't be many buyers for the foreclosed property.
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