Wow, this thread has sure brought out some lengthy reflections and attempts to understand economics over time. Like many of you, my mind is anchored in the past (for better or worst). I divide everything by 10 to relate back to what things cost in 1966 when I finished High School.
I am still positive and believe that hard work and capitalism is beneficial for those who will embrace it. I did miss the drug scene and understand it had horrible consequences for many.
I completed my Masters Degree at Boston University in business with an emphasis on international economics. This does not mean I have anymore wisdom than any of you good people - relating your life experiences. It does mean that government policy demonstratively impacts everything beyond the normal 2% inflation.
So far, we seem to be fairing better than other countries. So keep the faith and we may get 3% mortgage rates back.
Bob Copeland
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