The thing is, last time inflation was this bad in the 70s and 80s, per capita income was also going up. And maybe real income was not going up, but it was somew

The thing is, last time inflation was this bad in the 70s and 80s, per capita income was also going up. And maybe real income was not going up, but it was somewhat blunting the full effect of inflation. If you look at per capita income from 2019 to 2020 it actually went down. BUT we only really have 2 data points right now(2019 and 2020) so I don't think we will see a full picture until 2024 or 2025. Personal data point, but psychologically I am definitely cutting spending on things like restaurants and groceries. I can afford that fast food meal for 20$, but I don't value it at that price, so I just don't buy it. I'm not really crying 'boo hoo inflation', I just kind of pass on it and go on about life. Source: https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?end=2020&locations=US&start=1960&view=chart https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?end=2020...