While not hyperinflating, the slow and insidious diminishment of the fiat US Dollar’s purchasing power(and thus the living standards of lower- and middle-class Americans – who are not balls deep invested in the US stock ‘market’) is nowhere more evident than in the soaring costs of Thanksgiving Day dinner during the Fed’s 100 year reign…
In 1909… Thanksgiving Day Dinner cost $0.50…
In 2014… Thanksgiving Day Dinner costs $30.00
This works out at 3.98% annual inflation rate – almost double the Fed’s proposed price stability optimum of 2%… over a century…
Be careful what inflation you wish for.
Of course these are hotel prices – the cost at home is considerably less:
According to the American Farm Bureau Federation’s (AFBF) latest price survey, the average cost of a classic Thanksgiving dinner for 10 people this year — with all the fixings – will come to $49.41, or up 37 cents from last year.
Suggesting labor costs have soared? But even eat-at-home Thanksgiving Day Dinner costs have soared since 1986…
We are thankful for the increasing numbers of US citizens disillusioned with The Fed’s grand theft…
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