I don’t have a degree in economics, but I can spot a scam.
One of the things I’ve noticed is that the price of feeling rich has gone up tremendously faster than inflation.
Look at 1960 prices for luxury goods and compare them to today. The Corvette is a good example; a top of the line Cadillac was about $5,000.00 and a Rolls Royce was about $25,000.00
Tickets to the Super Bowl were about $12.00 and front row tickets to Ali/Fraiser were $200.00.
If they made Pulp Fiction today it would be a $100.00 milk shake.
It isn’t enough that we’re broke, they want us to see it every day.
The price of a 1960 Corvette was under $4,000.00 Minimum wage in the US was $1.00/hour.
What progress we’ve made!
4000 vs 33000 minimum wage hours today
I always shake my head when people pull out an inflation calculator that says that $1 million is equivalent to $10 million today.
In 1960 $1 million was a vast fortune that would buy you a Beverly Hills mansion with enough money left over to live like a king forever.
To have the same affordability as a 1960 Corvette at 4000 hours worth of work, minimum wage would need to be $60.
Progress, but in the wrong direction. $60 minimum wage is absurd.
I don’t have a degree in economics, but I can spot a scam.
One of the things I’ve noticed is that the price of feeling rich has gone up tremendously faster than inflation.
Look at 1960 prices for luxury goods and compare them to today. The Corvette is a good example; a top of the line Cadillac was about $5,000.00 and a Rolls Royce was about $25,000.00
Tickets to the Super Bowl were about $12.00 and front row tickets to Ali/Fraiser were $200.00.
If they made Pulp Fiction today it would be a $100.00 milk shake.
It isn’t enough that we’re broke, they want us to see it every day.