Re: Now it's $4 per gallon......of milk
- From: strabo <strabo@xxxxxxxxxxxxxx>
- Date: Mon, 04 Jun 2007 17:14:44 -0400
Offbreed wrote:
Robert Sturgeon wrote:On Fri, 01 Jun 2007 20:11:07 -0700, "editor@xxxxxxxxxxx"
<editor@xxxxxxxxxxx> wrote:
The dollar is worth-less; that's all this reflects. That's been going
on for 30+ years now in America; in 1977 or 1978, Ford really did
advertise full-size Fords with automatic transmission, power brakes,
power steering, and V-8 engine for well under $5,000 - less than a
quarter of what their modern version, the Crown Victoria, now runs.
And how much less of the mortgage payment on a three-bedroom house
does the dollar now buy than it did then - on the same house.
About that car... I have a 2004 Mercury Grand Marquis. It
is a MUCH better car than anything any U.S. auto company was
building in 1977 or 8. But they cost over $30,000 new, so
I'd say the true cost inflation figure for cars is about
triple in 30 years, about 3.75% per year. Of course that
depends on just how much better the cars are now.
Gas was about $0.27 in the 50's (where's the "cent" on keyboards, anyhow?). It's now over $3. That's more than 10X. Candy has gone up more than 10X. On the other hand, a Mitchell 300 reel was about $20 in the 60's, and an equal value reel is about $40 today.
And candy bars are smaller.
The Chinese connection and Walmart have driven prices on consumer
electronics and other goods way down. I think that is about to end.
A very good burger with a half pound patty, a big slice of tomato, and a big chunk of lettuce was $0.25 in the 60's, now it would be around $5. The $0.25 shake would now cost around $3.
A half pint of whole milk, three scoops of real ice cream and syrup
(vanilla, chocolate or cherry) for a great shake. Malt was five cents
more. Few places can make them these days.
I don't know what to pick out to compare. And, of course, there's lifestyle change. People are buying stupid stuff they would not have touched, or was not available, years ago.>
Compare the basics - house, food and transportation and of course,
loans and interest rates.
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