The Great Depression and now: a comparison of food costs - News - MailTribune.com - Medford, OR

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2014-11-09

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Here's what the costs would be, converted into today's dollars and what prices were Friday at local supermarkets: MailTribune.com Writer Posted Oct. 5, 2008 @ 12:01 am Posted Oct. 5, 2008 @ 12:01 am »  RELATED CONTENT • Memories of the Fall »  Social News In 1932, Safeway and Gates and Lydiard Groceteria in Medford advertised these items. Here's what the costs would be, converted into today's dollars and what prices were Friday at local supermarkets: 1932 price In today's dollars 2008 price Bacon, 1 lb. 14.5¢ $2.32 $3.99 Hamburger, 2 lbs. 19¢ $3.04 $3.99 Steak, 1 lb. 17.5¢ $2.80 $4.99 Coffee, 2-lb. can 55¢ $8.80 $6.99 Eggs, dozen 23¢ $3.68 $2.49 Butter, 1 lb. 22¢ $3.04 $3.50 Bread, 1 loaf 5¢ 80¢ $1.79 Safeguards against a stock market collapse The New York Stock Exchange can halt trading if the market becomes too volatile, a safeguard that began in 1998. Thresholds are reconfigured each quarter. If the market: Drops 10 percent, or 1,100 points, before 2 p.m., trading is halted for one hour. Drops 2,200 points before 1 p.m., trading is stopped for two hours, or for one hour if it happens between 1 and 2 p.m. Drops 3,350 points — no matter what time of day — all trading is stopped for the rest of the day. The largest point decline in the market's history came on Sept. 29, when the Dow Jones Industrial Average fell 777.68 points. The largest percentage drop came on Dec. 12, 1914, when the market declined 24.39 percent. — Sources: Wall Street Journal and Dow Jones Social Security Reform of financial institutions, including creation of the Securities and Exchange Commission Federal Deposit Insurance Corporation, Federal Housing Administration, Tennessee Valley Authority Many of the programs created during the Depression were hotly debated at the time, with some critics calling them socialism, communism or fascism. The programs were widely known as the New Deal after President Franklin D. Roosevelt promised a "new deal for the American people." Oct. 29, 1929 (Black Tuesday) — Stock market collapses after panic trading. Speculators sell 16.4 million shares of stocks. 1930 — Stock market rallies and government and business show an uptick in spending; consumers cut back on expenditures by 10 percent; a severe drought hits agriculture. 1932 — The Depression reaches its lowest point. Unemployment soars to 25 percent. More than 5,000 banks fail and 32,000 businesses declare bankruptcy. 1940s — Depression ends as the U.S. shifts to wartime economy during World War II. 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