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originally posted by: halfoldman
I wish I could do maths, but according to this everyone in the US is richer since 1994?
The US Dollar: are you richer or poorer?
originally posted by: JBIZZ
In 1994 I was making $5 per hour, today I'm making $40 per hour. I was paying @ $1 per gallon for gas in 1994, today its @ $2 per gallon. A truck in 1994 averaged 12 mpg, today they average @ 22mpg. A 25" television in 1994 was @ $300, today a 25" television is $99. A camcorder was $500+, a good camera was $500+, a good stereo was $300+, a VCR was $100, a basic personal computer was $1,000+, long distance phone calls were expensive & developing film was expensive in 1994. Now many of these things are in a smartphone, which costs less than $1000 for a top of the line model or $100 for a basic model. One can also buy a dozen eggs today for $1 & many other food items are also extremely affordable. As technology continues to advance, we will see more costs of living come down. For instance, within the next decade or two we will probably see solar powered self-driving vehicles, which can tow trailers that we live in, so there will be no need to own or rent real estate. Insurance rates, automobile prices & home prices/rent have gone up since 1994 but they are offset by prices falling or eliminated, as well as, increased efficiencies in other areas.