It’s 1982!

Bob CollinsBob Collins Jul 16, 2008
18

How bad is the economy right now? It’s perilously close to Jimmy-Carter-presidency bad.

The stock market is tanking — big-time — and people who are getting their quarterly statements for their retirement funds are noticing a much smaller number on the bottom line.

It’s even worse than that suggests, however. The government reported today that inflation for June climbed 1.1% — the biggest jump since 1982.

The Web site, inflationdata.com charts the inflation rate from 1990. For 15 years, the rate trended down. From 2004, however, it’s increasing.

1982. Let’s take a quick trip back:

  • The Falklands War began. Never have so many, given so much for so few… sheep.
  • The Equal Rights Amendment falls short of the 38 states needed to be added to the Constitution.
  • The first CDs are released in Germany.
  • The Dow Jones closes at an all-time high of 1,065.49
  • The first U.S. execution via lethal injection is carried out. In Texas, of course.
  • AT&T is broken up into 22 companies.
  • Gasoline is $1.42
  • A loaf of bread costs 55 cents.