One version of my story has inflation as the cause of my moving to Europe.
Yesterday I listened to nine podcast episodes in five hours and eight minutes. The host of one of the shows tells of the stories his father told about the inflation fighting high interest rates of his youth.
To contextualize their relation to music from the late 90’s they had ranked themselves by years of experienced history. They were all younger than my two eldest. I managed to stop myself from adding that they were also all older than my youngest who has just started her first fulltime job. None of them had ever experienced inflation.
I absolutely do not want to be one of those older folks who relate every thing back to their time.
I grew up with inflation. I even did two years of economics while it was raging.
Some of the contemporary articles said the 1973 oil crisis was to blame for it all.
Others said it was a new normal: modern economies, globalization and all that.
Yet others said it was all an illusion.
Of course, if you wanted to, you could probably have found an obscure economist claiming it was all a long sequence of events starting with the tax policies of an unknown Sumerian king.
Economics was making history. High interest rates were bringing down the economy and proving the solution to inflation.
I used to have this routine. “Canada’s unemployment was at 13% and at almost 35% for people my age. In fact, the only one of my friends that had a regular job was selling shoes in his father’s store. In Switzerland, they were complaining about the unemployment rate increasing tenfold from 0.2% to 2.1% (not counting unemployed foreigners helps the statistics). I have a Swiss passport!”
Their is a version of my story where my not getting into the right school is the cause of my moving to Europe. The numbers are the same. The context changes. It is less interesting.