31 Jul 12 09:50, TOM WALKER wrote to ROY WITT:


 RW>> I heard someone say the other day that today's dollar is worth 2
 RW>> cents in 1950 dollars. If that's true, we're already there.

 TW> Ignoring the rise in wages maybe. But wage creep has alsmot kept up
 TW> for a lot of things. Wrwo examples. In 1950 one coune gwet a loaf of
 TW> bread for 18 Cents.

Or less.

 TW> today the typical loaf of bread is $1.50

More like $1.90+

 TW> But the median income in 1950 was $5000 which Adjust for Inflation
 TW> wourl be $25,000 today.

I think that $5k is a bit too high. I was making that amount in 1968...and
I thought I was paid pretty good for the times.

 TW> But todays median Income is higher them that. So for soem things we
 TW> are Better off. Soem we are worse off but that is because
 TW> technological advances.

I can see that.

 TW> One exampe is the todays care do sost more but all the Improved
 TW> Saftet factors account for that.

Actually, the inflation of automobile prices is due to union labor costs
going off the deep end. And to compensate for that, the government imposes
a import duty on foreign cars to match the labor costs here. That's why
the Japanese and European manufacturers have set up plants in 'right to
work' states, like So Carolina and Texas.

 TW> Another woudkl be Movies though. In 1950 the typical movie was 0.28
 TW> Cents where as today it is in the $8.00 to $10.00 range.

I recall the price of a movie in 1950 at being about 10 cents. My
allowance was 25 cents a week and I could see a Saturday matinee and get a
bag of popcorn for 15 cents. The rest I spent on red licorice, 2 for a
penny...a bag of 40 Twizzlers costs $2 today. That's 5 cents each.

                R\%/itt

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