Blogger’s Note: SOMT stands for Sign Of My Times, an occasional blog sharing my thoughts how time changes life from when I was young to today.
The inspiration for today's blog was buying two donuts at a donut shop on May 2017. The last time I purchased donuts at the same donut shop was Oct 2014. The cost for two glazed donuts was $1.90. I paid $2.20 last month for two smaller sized glazed donuts.
I remember when retail prices, grocery prices, and restaurant prices were cheaper. Almost everyone agrees the past times were easier. Almost everyone agrees the past times were cheaper. People paid $2.99 for a Big Mac number one combo. Gas prices were in the $1.00-$2.00 per gallon, and people complained when prices broke $2.00 per gallon. Many homes owners never thought their homes reached a million dollars. Some of those homes are breaking the million dollar mark in hot real estate markets. Many landlords never thought their apartments reached a thousand dollars per month. Some of those apartments are breaking the thousand dollar mark in high demand markets. Movie matinee was $4.25. College education, medical insurance, and utilities are common knowledge prices are going up.
Prices are going up. Welcome to Economics 101. Supply and demand. Inflation. Cost of living increase. One can say prices are going down. One can say prices for medical care are cheaper. Better technology to run tests faster and more accurate decreases wait time for patients. New surgery techniques patients recover faster resulting in less time as a hospital inpatient. There are more over-the-counter drugs more powerful requiring fewer dosages.
One can say prices for operating all ground transportation are cheaper. Gas mileage is better. There are hybrid cars. Ground transportation innovates their durability lasts longer compared to 40 years ago. Desktop computers are cheaper such as bigger disk drive memory. Computer hardware lasts longer in durability and in more performance; for example, motherboards don't need a video card for basic desktop use. LED light bulbs are energy efficient costing pennies. The cost of backpacking equipment is going down because the durability lasts longer and equipment serves more functions. Flat panel television, clothing, and appliances are common knowledge prices have been going down.
Perspective determines whether we are living prices going up or prices doing down. Perspective is correct on both viewpoints. Costco's food court prices are the same since Costco opened their food courts.
Email: feedbackininblog@innovateinfinitely.com
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