Quote:
Originally Posted by CliffFletcher
Inflation has seriously messed with Canadians’ heads. Especially those who have no adult experience of anything but the ultra-low inflation rates of the last 20 years.
Recent inflation rates
2023: 3.9 per cent
2022: 6.8
2021: 3.4
2020: 0.7
2019: 1.9
2018: 2.3
2017: 1.6
2016: 1.4
2015: 1.1
2014: 1.9
Now imagine we’re having this discussion in 1983
1982: 10.8
1981: 12.5
1980: 10.1
1979: 9.1
1978: 8.9
1977: 7.9
1976: 7.5
1975: 10.7
1974: 11.0
1973: 7.5
That doesn’t account for housing. But the fury over the cost of living and our recent bout of inflation seems excessive. Our parents and grandparents endured much worse for much longer.
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I was born in the mid 80's so I can't say I experienced the high level inflation from those days, you are right though, those years were tough. Today's rates are for sure lower but it feels.......different?
In my initial response I talked about how big business and companies have gotten A LOT smarter on extracting more and more money out of us than before. "Durable consumer goods" aren't durable anymore. Appliances, electronics, HVAC systems and more all have reduced lifespans and are extremely expensive to replace. Cars and trucks used to be very easily repaired and maintained with very little knowledge. A lot of men did their own oil changes and basic maint. These days an oil change, a brake job and a windshield replacement on a modern car can easily cost thousands.
The classic Gillette razor and blade business model has be applied to a million products and services that people think they need, but don't. We have also become a throw away culture for a lot of things, which is wasteful.
I do think we should be pushing back against some of these things. Poor quality products, planned obsolescence, corporate greed with services/products and poor government policy allowing these companies to exploit as well.
Things feel different now. When my grandparents and parents came from Europe in the 50's/70's, they worked very hard in low level jobs, but had opportunities. They were able to grow and prosper, just like a lot of poor immigrants did Today? Good luck. Nobody is buying anything of value or moving up the social class ladder after a few years of washing dishes.