Originally Posted by TheCoolinator
There wasn't a 1.5 quadrillion dollar debt bubble in the 1970's.
Your trying to equate a firecracker with a volcano.
1.5 quadrillion dollars.
Coolinator is bored......
Originally Posted by Pentegarn
You are an idiot.
I said [...] if you took the inflation that occurred from the 70s until now and applied those numbers to the 70s you would see the crisis was much bigger then.
You are saying a cup of coffee is better now than it was in the 70s because Starbucks charges 5 dollars now and in the 70s diners only charged 35 cents (if they even charged that much).
The thing is, the coffee stayed the same, cost and currency are all that changed.
You could also look at inflation during the Great Depression, and compare that to today:
During the Great Depression
the economy was in contraction (negative inflation rate) for a total of 42 months, with an average annualized rate of -6.9%. The current recession
saw a contracting economy for a grand total of 8 months, with an average annualized rate of -1.1%. Guess which was worse from an economic perspective.
Furthermore, as of today (April, 2010), inflation is stabilizing at roughly 2.2% which is where it was during most of the Bush administration. Were we in a depression then too? Where were the tent cities?
But let's not confuse the issue with facts, Pent. Let's talk about nebulous topics like "standard of living" "tent cities" and throw some big meaningless numbers out there for good measure. That's how you win arguments.
One MEEEELLLLEEEEONNNNN DOLLLLLLLARRRRS!