When I started driving.

[Findingnemo]

I've just had my 80th birthday, and I've been reflecting on some of the changes I've seen. When I started driving I could ask for 4 gallons of petrol ( there weren't any serve yourself pumps then), and I could give the attendant £1, and say keep the change. $ gallons today will cost over £36, and I have to serve myself. They keep saying inflation is low, but that doesn't seem low to me. Right now the producer price ines is up over 36%, and that is a more realistic indicator than the retail price index bandied about by the government.

It really does seem to be a way for the super-elite with their hereditary wealth to increase their asset value at the expense of the bulk of the population.

Increase the salary, increase the price and the money kept printed by the government so this is a system which used to keep the people in the same status no matter how much hike they get every year. Even I used to fill petrol for 50 or 60 cents don't remember exactly but now.

[so98nn]

[..]
It really does seem to be a way for the super-elite with their hereditary wealth to increase their asset value at the expense of the bulk of the population.

Thats the issue with the modern age, these 1% club are the producer and director of new era and they are the running movie with their own comfort. The problem is, whoever involved in the operations of big assets like oil production, diamond and gold mines etc are all government plus riches club. They are the base of the cake and we are the cream layer who will keep changing all the time. They do not care about it, they do not suffer from the inflation because they can simply increase the cost of assets and overcome it.

Those who deny this fact are still in dark I believe! Look at the mans journey up here, started with 1 euro and Good lord ending with 36 euros! Definitely inflated economy.

[virasisog]

Happy Birthday, Op. I hope you're happy and healthy as you celebrate your birthday. Unfortunately, the inflation rate is continuously increasing each day. Most of us only work to survive. As inflation increases, the wages are still the same. It's now hard to save because our salaries are only enough for the increasing value of our daily necessities. I think we can't control the increasing inflation rate anymore but I also hope that our wages would increase in the future.

[Fivestar4everMVP]

I've just had my 80th birthday,

A happy 80th birthday to you sir, its indeed soul lifting to know that a person of your age is a user of Bitcoin and also an active member of this great forum, i pray your creator give you grace to live many many more years.

and I've been reflecting on some of the changes I've seen. When I started driving I could ask for 4 gallons of petrol ( there weren't any serve yourself pumps then), and I could give the attendant £1, and say keep the change. $ gallons today will cost over £36, and I have to serve myself.

Inflation has pretty much affected everything all over the world, and not just oil, here in Nigeria, it is not different, in 2017, i bought a tricycle for my business at a price of 650, 000 naira, today as i type this comment, tricycle is sold for almost a million naira, and its engine power is no longer as strong as those sold in 2017.
I bought a motor bike last month (check it out here https://bitcointalk.org/index.php?topic=5405271.0) being june 2022, for a price of 400,000 naira which is equivalent to about $650, a friend of mine bought this same bike for a price 250, 000 naira, which is equivalent to about $400 in the month of February this year 2022.
So it is pretty the same thing everywhere and on everything, not just on oil.

[tbterryboy]

I've just had my 80th birthday, and I've been reflecting on some of the changes I've seen. When I started driving I could ask for 4 gallons of petrol ( there weren't any serve yourself pumps then), and I could give the attendant £1, and say keep the change. $ gallons today will cost over £36, and I have to serve myself. They keep saying inflation is low, but that doesn't seem low to me. Right now the producer price ines is up over 36%, and that is a more realistic indicator than the retail price index bandied about by the government.

It really does seem to be a way for the super-elite with their hereditary wealth to increase their asset value at the expense of the bulk of the population.

First of all, belated happy b-day!!! Didn't knew you were 80 now dang I thought you're just a teenager based on how you talk. Second of all don't worry as you aren't alone with this issue but the increase in the gas price is one of the hottest issues right now because a lot of us are using it regularly.

In our country, the gas stations here operate entirely differently, unlike to yours and in USA where you can self serve but there is no need for us to tip the gasoline boy because they do have their own salary. Who says inflation is low? The increase in the prices of the goods especially in the gas is one of the indications the the rates go up.

[gunhell16]

I've just had my 80th birthday, and I've been reflecting on some of the changes I've seen. When I started driving I could ask for 4 gallons of petrol ( there weren't any serve yourself pumps then), and I could give the attendant £1, and say keep the change. $ gallons today will cost over £36, and I have to serve myself. They keep saying inflation is low, but that doesn't seem low to me. Right now the producer price ines is up over 36%, and that is a more realistic indicator than the retail price index bandied about by the government.

It really does seem to be a way for the super-elite with their hereditary wealth to increase their asset value at the expense of the bulk of the population.

belated Happy Birthday to you Sir, at this time that age is difficult for an individual person to reach, and you are lucky that you have reached that age and it is rare for that age that the person is still strong because there is often a lot of pain. brought, Then do I correctly understand that every gallon of oil in your area is 36 pounds or 36 pounds in 4 gallons? either of the two I could say it is still expensive even you have low inflation there in the area where you are.

[Darker45]

The short-term rise in the prices of goods and services are already painfully felt by ordinary consumers. How much more if zoom out and take a much broader look at the price changes over the past decades? It must be a lot more painful. To those like you who have seen and felt it all first hand, things must have changed a lot for the worse.

But I agree with Husires that inflation is just a single aspect in terms of oil price. In my country, there's the excise tax, oil deregulation law and other related policies, weakening peso versus the dollar, oil cartels, and others. Add to these the invasion happening somewhere in Europe and probably some manipulation behind the scenes. These are major factors in terms of the local oil price.

I also want to point out what's happening in Sri Lanka where petrol prices are not only rising to the heavens primarily because of the political turmoil, the sales are even halted for weeks except for vehicles used for essential services.

Belated happy birthday, by the way!

[Dunamisx]

Unfortunately, the inflation rate is continuously increasing each day. Most of us only work to survive. As inflation increases, the wages are still the same. It's now hard to save because our salaries are only enough for the increasing value of our daily necessities. I think we can't control the increasing inflation rate anymore but I also hope that our wages would increase in the future.

This present time we find ourselves into is a situation whereby to earn a living becomes a difficult task, need arrives right prior to supplication of resources, what comes in a profit is very low compared to what goes out on expenses, i think the economy is expected to run a complete and balance system whereby whenever there's an inflation and the price of commodities rises then there should be an increase on the rate of wages been paid but to my surprise things aren't going like that.

[sovie]

Unfortunately, the inflation rate is continuously increasing each day. Most of us only work to survive. As inflation increases, the wages are still the same. It's now hard to save because our salaries are only enough for the increasing value of our daily necessities. I think we can't control the increasing inflation rate anymore but I also hope that our wages would increase in the future.

This present time we find ourselves into is a situation whereby to earn a living becomes a difficult task, need arrives right prior to supplication of resources, what comes in a profit is very low compared to what goes out on expenses, i think the economy is expected to run a complete and balance system whereby whenever there's an inflation and the price of commodities rises then there should be an increase on the rate of wages been paid but to my surprise things aren't going like that.

What an ideal world OP is talking about - but at that time money had value. Today no amount of money is enough and no amount of money is enough money.
Lets suppose if we go back to that time - at that time people would also be complaining about high prices. SO this problem of having inflancing will remain for ever.

[jostorres]

Unfortunately, the inflation rate is continuously increasing each day. Most of us only work to survive. As inflation increases, the wages are still the same. It's now hard to save because our salaries are only enough for the increasing value of our daily necessities. I think we can't control the increasing inflation rate anymore but I also hope that our wages would increase in the future.

I think the "work to survive" thing is not sustainable. I mean I do it, and many people I know are doing it, and that this rate I do not think that we could survive this for a long time. If we keep on just working and working and have absolutely nothing else to do, then we are going to be quite upset about our world. From all these, I highly suggest that we should stop doing all of this, and start focusing on how to do what we can in another way.

What does that mean? It means that we should be finding hobbies, and earning enough to have a chance to do what we love on the side as well. Maybe "travel the world" type could be too much, but at least something local, or in house.

[KingsDen]

Happy birthday in arrears Op, I'm amazed at your age. It feels good to understand that 80yrs old men are in our midst and actively using bitcoin. I celebrate you.

For the 36% inflation over the years, I want to understand something. Whether the increment was as a result of long term inflation or change of pms price. I am asking because in my country, you could buy a litre for $1 today and next day the government will announce that it is $5 and because of subsidy removal bla bla. So, most times it's artificially induced by the government and I don't know why.

[jrrsparkles]

Its kind of interesting to know how the evolution of of inflation all around the world but it kept silent whole time and no one even can't find why this is happening, we all are used to it and running behind making more money so we can have enough for the need instead of thinking why the prices are increasing,etc.

[Gyfts]

...

Oil's usually taken out of the inflation calculations but energy can essentially cause the price of other consumer goods to inflate if the entire energy sector takes a hit. If Russian oil is scarce for Eastern Europe, the price of all goods go up because it takes energy to create goods.

Venezuela and Libya can't solve this. Ukrainian war needs to end.

[Lida93]

A blissful birthday to you. seeing 8 decades isn't an easy experience to go by especially looking at how things were while young and how things are now at your current age. It just buttress the saying that, "Change is constant".
It's true what you say, for those at the echelon of power are just milking the poor through unruly taxes, impositions and so on, in disguise to maintain their lifestyle and opulence.

[bitgov]

A blissful birthday to you. seeing 8 decades isn't an easy experience to go by especially looking at how things were while young and how things are now at your current age. It just buttress the saying that, "Change is constant".
It's true what you say, for those at the echelon of power are just milking the poor through unruly taxes, impositions and so on, in disguise to maintain their lifestyle and opulence.

That is correct - "change is constant", and than is survival of the fittest.
If you want to excel in the life you have to move along with the modern stuff. BUT keep the old one saved. They will be an antique later in life.

[bitgov]

A blissful birthday to you. seeing 8 decades isn't an easy experience to go by especially looking at how things were while young and how things are now at your current age. It just buttress the saying that, "Change is constant".
It's true what you say, for those at the echelon of power are just milking the poor through unruly taxes, impositions and so on, in disguise to maintain their lifestyle and opulence.

I am very excited to know that we have some very senior members in the forum too.
Happy birthday to you - many you be healthy and wealthy - you have seen 8 decades and I am sure you have seen good time and bad time too. But the memory you have shared is lovely