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Warpy

(114,650 posts)
15. Dumbasses don't understand inflation
Thu Dec 7, 2023, 02:47 PM
Dec 2023

and fiat currency has a 2%-4% inflation rate built right into it..

In 1967, I could rent a one bedroom apartment down south, eat, see a doc when I got sick (which was rare at that age) and have a little left over since I wasn't a drinker or smoker. Shoot, it would stretch to an occasional ounce of grass.

That was at the princely wage of $1.27/hour, two cents above the minimum.

These days, minimum wage won't do much of any of that, the homeless shelters full of people going out to work for minimum wage every day in a lot of states, red states, uncaring states, fiscally stupid states.

Wages are always a lagging indicator, meanint they only go up when inflation has already happened. They are not inflationary.

Republicans will deny this to their dying breaths, may those be soon. They and "fiscal conservative" DINOs have blighted my entire adult life. They all need to join McCarthy and lumber off to the elephant graveyard.

We'll never see 31 cent gas or two cent iceberg lettuce again. I hope we do see living wages. America needs a raise, a big one. Fat cat executives and their overlords need a diet.

Recommendations

1 members have recommended this reply (displayed in chronological order):

Gas has been running about 75 cents cheaper in California lately Sympthsical Dec 2023 #1
Pretty much only in California is gas 5.00 a gallon actually, onecaliberal Dec 2023 #2
What was the cost of gas in 1960 for California? LiberalFighter Dec 2023 #9
32.9 cents. onecaliberal Dec 2023 #13
Gas is under $3.00/gallon PoindexterOglethorpe Dec 2023 #3
Here in the Oakland area, major brands sell a $5.00 +, demosincebirth Dec 2023 #11
Excellent plcdude Dec 2023 #4
Back in the last century when I was a doc03 Dec 2023 #5
My first job was $1.25 an hour as well Walleye Dec 2023 #7
Negativity sells Johnny2X2X Dec 2023 #6
I use the candy bar rule, a candy bar cost 10 times what it did when I was in school. So does everything else Walleye Dec 2023 #8
Gas is 2.45 at a station near me. niyad Dec 2023 #10
Last time I had to put gas in the wife's car it was around $2.85 here in North Texas. n/t Liberal In Texas Dec 2023 #12
Gas here in PDX metro MissB Dec 2023 #14
They also don't understand how state taxes work either. Initech Dec 2023 #17
Dumbasses don't understand inflation Warpy Dec 2023 #15
In the summer of 1966 I went to work for my father in his union flashman13 Dec 2023 #16
The point of the post if you consider inflation and the efficiency of todays cars doc03 Dec 2023 #18
Mileage matters a lot. PoindexterOglethorpe Dec 2023 #19
I had a 1974 VW, I loved to drive the car but as I remember even they didn't get much over 20MPG. doc03 Dec 2023 #20
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