Inflation Used To Be MUCH Higher... Why Does It Feel Worse Today?

Check out The Book https://mdsh.io/gewerdvwe0 and use code HOWBUSINESSWORKED10 for 10% off. ----- Sign up for my FREE newsletter! - https://www.compoundeddaily.com/ ------ #money #inflation #finance Link To Our Other Channel: https://www.youtube.com/c/HowMoneyWorks Written By: Sam Video Created By: Svibe Multimedia Studio Editor: Cardan Media Gatherer: Andrea Rivas Footage Courtesy of: Getty Images Music Provided By: Epidemic Sound 📩 Business Inquiries ➡️ [email protected] ------- It's the go to rebuttal for any young whippersnapper who dares to complain about how hard it is to keep up in today's economy… Yeah sure you think the cost of living is bad now?! “but back in my day, inflation was in the double digits, unemployment was over 10% and the mortgage rate on a house was easily double what it is right now”... And well yeah… the numbers themselves don’t lie… inflation really did used to be much higher… Sooo… why does it feel so much worse today? Now the obvious answer would be that; we are just remembering history through rose tinted glasses… “it feels worse now, because we are living in the now”, and yeah, past struggles ARE easier to dismiss, especially for people who didn’t actually live through them… But there is a little bit more going on here. For all of the scary looking numbers back then, consumer sentiment and financial confidence are at record lows right now. In plain english the cost of living crisis we are currently experiencing does statistically feel worse than the inflation crisis of the 1970s even though on paper; this one went on for longer and reached a much higher level… Which raises the obvious question… Why? Well the bad news is; it's not just because we are a bunch of big softies today… The good news is that some of the best economists in the world have actually been asking exactly the same question… And the uhh… ugly news… is that unfortunately it's probably going to be much harder to fix…