Thursday, November 26, 2015

100 years ago, Thanksgiving dinner cost 1/100th of the cost it does now... thank you inflation and the Federal Reserve

Prior to the advent of the Federal Reserve and the creation of of a central bank to control monetary policy, Thanksgiving dinner at a nice restaurant cost individuals about .50 in 1909.  But fast forward a little more than 100 years and that cost for the same foods cooked at home versus dining out, are more than 100 times the cost.

Why?  Inflation, and in particular, inflation created by a central bank who has expanded the money supply far beyond the value of what food cost to produce.

And a Thanksgiving night out at the Hotel Gettysburgh, 1909.

And of course, the value of a dollar one hundred years later thanks to our corrupt banker friends at the Federal Reserve.

Happy Thanksgiving!  I hope that all who read this can still afford it.