Rising costs of yesterday and today

[knitetrain05]

Cost of Living 1967

Average Cost of a new camaro SS/RS $3,032.00

The Federal Minimum Wage is $1.40 an hour

Cost of Living 2012
Average Cost of a new camaro SS/RS $38,032.00
The Federal Minimum Wage is $7.25 an hour

3032.00 / 1.40 2165.7142
38,032.00 / 7.25 5245.7931

This whole country and world is going to hell in a hand basket

[Russo]

thanks to the Federal Reserve Act of 1913 signed by Wudrow Wilson, endorsed by FDR and Nixon...

[daveagogo1]

Of course nobody making minimum wage was or is buying these examples. It's also difficult to compare these products as the 67' was ridiculously primitive compared to todays standards. The airbags in our cars alone cost more than that entire car did.

The US DOT didn't even start regulating safety until 1967. The only real rule at the onset was a mandate that all passenger cars had an emergency brake.

The avg cost of a loaf of bread in 67' was .22 today it is $1.59 or 7 times the cost. That is far closer to what it should be as many states pay more than the Federal minimum wage and is roughly 6 times what it was in 67' So in that example the cost of bread today is only slightly higher than it was back in 67'

[lgKido]

Originally Posted by Russo

thanks to the Federal Reserve Act of 1913 signed by Wudrow Wilson, endorsed by FDR and Nixon...

You familiar with the North American Union, Russo................?

[GotGame55]

I wish my car cost less than 4grand...I could have like....7 of them.

[fielderLS3]

Originally Posted by Russo

thanks to the Federal Reserve Act of 1913 signed by Wudrow Wilson, endorsed by FDR and Nixon...

If in 1971, we had readopted a full gold standard, instead of going completely off if it and printing money, that new Camaro 2SS/RS would cost about $825 today, and gas would be 9 cents a gallon...just to give you an idea of the real cost of printing money. Stuff today doesn't actually cost more....your money is just worth less.

[jshaf]

all I know is my dad bought a top of the line Olds 442 on a meager salery in 1970 and had it paid off in less than two years, I will probably never be able to afford an SS even though I work a better paying job(with inflation adjustment). stuff is just more expensive all the way around these days, and my parents agree completely!

[snaphappy]

I'll chime in here. My nephew said he was excited about his studies at college because when he finished he could land a job for $60,000 a year. He was pretty worried when I told him that's not much money anymore. Colleges are telling these kids they should be happy at $30-$60,000 a year. In my opinion $100,000 is the minimum to be comfortable these days.

[JohnnyBfromPeoria]

Use the Corvette scale of inflation. A well-paid average American makes about as much as a base Corvette costs. (This, according to my brother).

Makes about as much sense as anything.

John B.

[ihaveacamaro]

Originally Posted by JohnnyBfromPeoria

Use the Corvette scale of inflation. A well-paid average American makes about as much as a base Corvette costs. (This, according to my brother).

Makes about as much sense as anything.

John B.

Average median income in America is about 46K so your brother is right

[STuRTzz]

Originally Posted by snaphappy

Colleges are telling these kids they should be happy at $30-$60,000 a year.

Then they complain when they are in debt 100k and can't find a job

Originally Posted by snaphappy

In my opinion $100,000 is the minimum to be comfortable these days.

I agree. Pick a degree that has plenty of jobs and pays over 6 figures. Don't complain if you pick a stupid degree "because I like it" when you know it pays terrible.

If people look, they can get paid 60k with no college degree so why waste 4-8 years and 100k to get a degree that pays the same?

[badcompany]

hell move to texas, work in the oilfield, and with no degree you can be like me and a bunch of other people here making well over 6 figures a year with no problem, and thats take home!!

[camaro-dreamer]

Originally Posted by snaphappy

I'll chime in here. My nephew said he was excited about his studies at college because when he finished he could land a job for $60,000 a year. He was pretty worried when I told him that's not much money anymore. Colleges are telling these kids they should be happy at $30-$60,000 a year. In my opinion $100,000 is the minimum to be comfortable these days.

This is all relative to the area in which you live. I compared the location you have listed to my hometown. The average salary in your location is literally twice the average salary where I live. Of course, Camaros cost $40,000 wherever you live. However, where I live, houses cost only $100-200k. I have a PhD in an engineering field, and my first year's salary will be slightly under $100k.

[jd10013]

Originally Posted by fielderLS3

If in 1971, we had readopted a full gold standard, instead of going completely off if it and printing money, that new Camaro 2SS/RS would cost about $825 today, and gas would be 9 cents a gallon...just to give you an idea of the real cost of printing money. Stuff today doesn't actually cost more....your money is just worth less.

lol, not quiet. your money is only worth less relative to the price of gold. today money actually buys you more than it did in the past as a result of massive productivity gains, globalization and cheap foreign labor.