"The good old days" (part MMMCLXVII)

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Tuesday, October 9. 2012

"The good old days" (part MMMCLXVII)

Yep, good ol' 2005.

I remember it well.

$4 gas: Get used to it — CNN Money

And just why do I remember it well? Because a Republican was in the White House at the time so the MSM went nuts over the escalating gas prices and every third article was about high gas prices and if only we had a reasonable person in the White House gas prices would be lower — and accompanying the articles came a bunch of cartoons and photochops and GIF animations on the subject which I faithfully collected in my Art Gallery and have occasionally looked at over the years.

That's why I remember it well. I cheated.

In honor of those glorious days of yesteryear, I have forthwith ported over said Gallery collection for your whimsical sighing over happier times gone by, back in the good old days when gas was a mere $3 a gallon.

Posted by Dr. Mercury in Hot News & Misc. Short Subjects at 13:00 | Comments (14) | Trackbacks (0)

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Actually if you measure the price of gas with pre1964 dimes you find out that gas is less costly now than in 1964 or earlier for that matter. It isn't that gas is increasing in price but that the currency dollar is decreasing in value. Funny thing that when you print more of something out of thin air it makes the rest of something more worthless. Now that leaves a person to determine whether the oil driller or the FED and treasury are screwing him. Once that is figured out it is just a matter of making sure the culprits are properly hung from a properly tall oak tree...or a lampost in a pinch.

#1 indyjonesouthere on 2012-10-09 14:31 (Reply)

I'm not sure why you'd say "in a pinch". I think lampposts are perfectly acceptable, plus they have the advantage that a limb won't break at just the wrong moment, and you can use them both daytime and night. I do, however, see why you'd prefer a towering oak tree. More poetic, and all that.

Yardarms also work well.

#1.1 Dr. Mercury (Link) on 2012-10-09 14:52 (Reply)

The price of gasoline generally dropped in the 20th century, but started to rise around 2000. There was a precipitous drop in 2008 due to the financial meltdown and the ensuing collapse in demand. Current prices are approaching that of June 2008.

Historical price of gas, yearly average. The red line is real dollars.
http://inflationdata.com/Inflation/images/charts/Oil/Inflation_adjusted_gasoline_price_med.jpg

#1.2 Zachriel on 2012-10-09 19:11 (Reply)

I just looked it up. In 1964, the price of gas was, in today's dollars, about $2.25 a gallon. You can look at the chart for yourself:

http://inflationdata.com/Inflation/Inflation_Rate/Gasoline_Inflation.asp

So your statement is incorrect. Also, I looked up minimum wage info. Back in 1964, minimum wage was approximately $9 in today's dollars. So, if you were making minimum wage, you could buy 4 gallons of gas. Today, making minimum wage, you can only buy half as much.

#1.3 KJB on 2012-10-10 15:17 (Reply)

Good 'uns, Doc!

#2 Sam L. on 2012-10-09 14:32 (Reply)

Yup! Them Democ.rat shiites are always accusing you of that they've been doing!

Also, remember?:
Not my President ... Selected not Elected ...Bush's an idiot ...etc.

Somewhere in Kenya a village is missing his idiot ...

#3 g6loq on 2012-10-09 15:47 (Reply)

Merc,

I was in San Francisco during the 1973 Oil Crisis, which was OPEC's response to the US decision to resupply the Israeli military during the Yon Kippur war. It lasted until Mar 1974.

There were lineups due to a gasoline shortage (it was more rationing of supply as I recall). The price, as I remember, was around $0.40USD per US gallon.

Actually if you measure the price of gas with pre1964 dimes you find out that gas is less costly now than in 1964 or earlier for that matter. (indy #1)

I'll have to check out that claim (I suspect it's accurate). I can recall gas @ $0.22CD per Imperial gallon in 1959.

#4 Garry on 2012-10-09 16:05 (Reply)

I was living in the delightful hamlet of New England during the '73 embargo, in the quaint village of N'Ampshah. They did it odd-even -- cars with even-numbered license plates could fill up on even-numbered days, odd on odd days.

Yes, the oil embargo of 1973. That was when America woke up and started on the path to oil independency, culminating in the pollution-free nuclear-powered nation we live in today.

What a beautiful story!

#4.1 Dr. Mercury (Link) on 2012-10-09 16:24 (Reply)

Merc,

Ever heard of Dr. Eugene Mallove? I believe he may have been working on a better way than "new-clear".

#4.1.1 Garry on 2012-10-09 16:56 (Reply)

Wikipedia says gas went from about 38 to about 55 cents a gallon as a result of the 1973 embargo. My husband and I remembered it as 75 cents, but I think we were actually thinking of the spikes (and long lines at the pump) in about 1979.

Here are some interesting stats from 1973: The Dow was between 788 and 1051 that year. Inflation was at 7.6%, unemployment at 5.6%. Median home price: about $35,500. Median household income: about $10,500. Federal debt: about half a trillion.

#4.2 Texan99 (Link) on 2012-10-09 19:13 (Reply)

We laugh, but I'm looking forward (not) to wearing my "Whip Inflation Now" button again. Because it's certainly coming.

#5 Jim on 2012-10-09 19:39 (Reply)

Is this so obvious it doesn't need mentioning? Pre-1964 dimes were made from a decent percentage of silver.

#6 Alear on 2012-10-09 19:44 (Reply)

This might be of interest, gallons of gas per ounce of silver.
http://static.seekingalpha.com/uploads/2011/5/25/863379-130633346514722-Richard-Bloch.png

Notice that the price is relatively stable during the 20th century, except during the oil-shock of the 1970s, followed by rising prices beginning in about 2005.

#6.1 Zachriel on 2012-10-09 20:32 (Reply)

No takers??

8-

#6.1.1 Garry on 2012-10-10 21:06 (Reply)

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Tuesday, October 9. 2012

"The good old days" (part MMMCLXVII)