by John Darer CLU ChFC MSSC CeFT RSP CLTC
This week in 1981 celebrates 41 years of Donkey Kong, the hugely popular video game introduced by Nintendo July 9, 1981. Donkey Kong
was created by Shigeru Miyamoto, a Japanese video game designer, producer and game director at Nintendo. Widely regarded as one of the most accomplished and influential designers in the history of video games, he is the creator of some of the most acclaimed and best-selling game franchises of all time, including Mario, The Legend of Zelda, Donkey Kong, Star Fox and Pikminn. Source: Wikipedia
A Tempest in a Twitterpot?
At 830am EDT this morning the June 2022 Consumer Price Index (CPI) was released and the number was 9.1%, the CPI's highest since Donkey Kong was introduced.
In the run up however, certain news media and the Twitterpot went bananas about "a curious thing happened on the way to the closing bell: a alleged false report “leaked” tomorrow morning’s Consumer Price Index (CPI) — higher than last month’s +8.6% year-over-year headline, but let’s not honor the fake data by mentioning it here. " (after just doing so)
Highest since 1981. Well, well, well...
Looking back at 1981
- Year End Close Dow Jones 875
- Interest Rates Year End Federal Reserve 15.75%
- Average Cost of new house $78,200
- Median Price Of and Existing Home - $66,400 -
- Average Income per year $21,050.00
- Average Monthly Rent $315.00
- Cost of a gallon of Gas $1.25
- Tandy TRS 80 PC1 $149.95 (personal computer)
- 19 inch Color TV $399.95
- Under Counter Dishwasher $249.95
- Plums per lb 39 Cents
- Miracle Whip $1.27
- Turkey per lb 55 cents
- Star Wars Figure Set $29.99
- Mens Leather Jacket $129.99
Interesting Read on Inflation
Includes an image of the late Paul Volcker, Chairman of the Federal Reserve from 1979-1987 holding a cigar in one hand in a congressional hearing. The Jersey boy smoked inflation in his time.