Re: Re: Re: Mirafone Ancient History Trivia Question


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Posted by Chuck(G) on July 28, 2001 at 19:35:19:

In Reply to: Re: Re: Mirafone Ancient History Trivia Question posted by Tim L. on July 28, 2001 at 19:12:37:

...and they still don't, if they have any smarts at all. But remember that inflation was running around 18-20% a year and the dollar was very weak. And since Mirafone USA was the exclusive improter of these things, they could easily keep prices high.

Back then, things were so out of control, you could take out a second mortgage on your home and invest it in T-bills and make money. This period in the US economy also cleared the way for credit card lenders to charge 21-24% interest; prior to this, many states had usury laws that capped interest rates at 10% or so. It's funny that the credit card lenders never bothered to adjust their rates downward when inflation went down...

Sorry for the non-tuba tangent...




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