How 40 Years Makes A Hell Of An Economic Difference - Wages & Cost Of Living, page 1

reply to post by tothetenthpower

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using your numbers... And $1.50 an hour minimum wage for 1970...

The milk cost 67% of the person's income per hour 40 years ago and now costs 60% of the persons income per hour...

Would this not mean the person, and their TIME is worth more now? Not then?

As far as buying power it does seem like we are getting screwed hugely, just not based on the numbers you posted. I remember buying cokes at the vending machine for 20 cents outside walmart, and at that same time minimum wage wasn't much lower than it is today in America. Cost went up about 500% and minimum wage maybe went up 25%...

reply to post by tothetenthpower

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Ahhh, yah.

Unless youve been living under a rock, Ron Paul has been screaming about this for 30 years, most vocally over the past 8.

I could post a hundred videos about Ron Paul explaining how inflation is a "tax on the Middle Class", how inflation is theft. Heres one to start:


Know why Ron Paul got into politics? Of-course you dont.

It was because in 1971 Nixon removed us from the gold standard. Instead of the US dollar being backed by gold, it was instead backed by nothing, I mean the "full faith and credit of the US government", hahaha.

A Medical Doctor by trade but a self taught economist, Ron Paul, knew then that without restraints, the government would borrow and spend the people into oblivion. He knew it would result in the destruction of America and has been trying to do something about it ever since.

reply to post by tothetenthpower

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We taught certain groups of workers / people to hate and fear other groups of workers / people. The natural progression of anarcho-capitalism in a closed loop environment is fewer "winners" and "more losers" over time. This buys us a few moments to debate over how we should rid ourselves of the "losers" until the next iteration.

Unless we start asking fundamental questions about the system, instead.

reply to post by Dustytoad

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Yeah, I'm terrible at math, but look at the price of bread as well, that's perhaps a better indicator.

All I know is that back when I was a kid, people in their mid twenties were buying homes and having them paid for in 5 to 10 years. There was hardly any need for credit because we had good paying jobs and one parent could afford to raise a whole family.

~Tenth

reply to post by Ghost375

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Canada btw.

Is where I'm getting these stats.

A gallon of milk here is abotu 6 bucks.

Minimum wage on average is about 10...except some richer provinces like BC it still holds at about 6 I believe...

ACtually I"m wrong about that.

en.wikipedia.org...

It's pretty much 10 everywhere now.

~Tenth

Originally posted by tothetenthpower
reply to post by Dustytoad

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Yeah, I'm terrible at math, but look at the price of bread as well, that's perhaps a better indicator.

All I know is that back when I was a kid, people in their mid twenties were buying homes and having them paid for in 5 to 10 years. There was hardly any need for credit because we had good paying jobs and one parent could afford to raise a whole family.

~Tenth

I know this all too well.
For me gas is another indicator.
Cereal... When I was a kid it was at least half as expensive so a 100% increase, while and again, minimum wage went up only hardly...

I can't afford much and I'm living with my girlfriend who makes 1.5 times minimum wage, while I have money that = about half minimum wage after college expenses..

We don't buy anything except food really. We don't even go out except once every couple months which is just sad. We are always broke before the next paycheck comes.




BTW where I am at on this issue is where Ozzymando is at in his post above... That's all that needs to be said at this point. The game in place is not workable by changing rules around to manipulate numbers of winners positively. We need to play a whole different game. I made up many games for me and my siblings to play when I was little. Sometimes rules could not be changed enough to make a playable game no matter what. I think we are at this place in modern society right now.

I can give it a shot for how.... Here is a snapshot of 1961 for a bit longer comparison on trends.

Source

and here is what $100 in your pocket in 1961 is/would be worth today if held all this time. $100 sure isn't what it used to be.

Source

It's a fine mess we've gotten ourselves into, isn't it? That first site has all kinds of statistical data for the UK and US on things like the consumer price index, gold, inflation, GDP and many other things to compare. It was a good reference for my budget thread and figured it would come in handy here too.

Originally posted by tothetenthpower
reply to post by Ghost375

---

Canada btw.

Is where I'm getting these stats.

A gallon of milk here is abotu 6 bucks.

Minimum wage on average is about 10...except some richer provinces like BC it still holds at about 6 I believe...

ACtually I"m wrong about that.

en.wikipedia.org...

It's pretty much 10 everywhere now.

~Tenth

edit on 11/24/2012 by tothetenthpower because: (no reason given)

Minimum wage is lower in the US. In some states it's considerably lower.

I remember when I started driving (this is the mid to late 90's) gas was around 89 cents a gallon-- less than a dollar. Right now it's around...what, $3.50 give or take?

What about housing costs? Rent?

Kinda makes you

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