The government has ways of lowering the CPI (lying, and removing fast rising items. Housing was replaced with owner's equivalent rent in the early 80's.
Let us use postal rates as a proxy for price rises. In 1958, stamps were three centz. To-day, they are forty-four centz. This is 5.4%/year over 51 years.
Regular gas in 1958 was thirty centz- to keep up with postal rates, to-day is should be $4.40 per gallon. But it'z only $2.63, a mere 60% of the prediction!
If there were a shortage of crude, then. . .
Last edited by Rick Ronsavelle; August 14th, 2009 at 05:14 PM.
Reason: fix spacing
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