Thread 512965820

How tf is $2/hr in 1975 equivalent to $18/hr today?

>>512965820 (OP)
Jews

>ai
It told me gold was pegged at $35 an ounce, current price is ~35K. It tried to con vince me there wasn't any 1000x inflation because of some muh indices.

>>512965820 (OP)
inflation infinite money kikery, fiat decoupled from gold standard
imagine working for $44/h in some manual 9-5

>how much was silver then
>how much is silver now

>>512965820 (OP)
Minimum wage today would need to be around $35/hr to equal the buying power of the 70's. Things started going sideways after bretton woods and I would venture a guess that late 70's early 80's, an equivalent min wage would closer to $40 or $50/hr. AND they had double digit interest rates - at 15%, rule of 72, your money would double in approx 5 years. I have worked with many boomers that said, if you had any savings, you couldn't spend it fast enough. This is where the boats, houses, cars, and all other assets came from.

But you and me...we're sort of fucked. Get luck with BTC, ETH, trading options, whatever and pool as much money as possible out of the system and buy shit like land. Cars are stupid. Naggers spend money on cars.

>>512965820 (OP)
The amount of things you could buy for $2 then is about the same as the amount of things you can buy for $18 now. This isn't complicated.

>>512966512
based on what? durable goods are much cheaper despite housing costing more

>>512965820 (OP)
Figure out how many gold ounces per hour you earned in 1975, compare to what that would be today. That's the $44/hour figure.
"CPI plus productivity" takes into account that every year, due to rapid productivity gains, the price of goods should actually be dropping because they become cheaper to make. If every year goods become 1% cheaper to make, but you are actually paying 5% more, then there is a hidden inflation metric you don't even see. This concept is called suppressed deflation and gives you a true idea of the loss in buying power.

>>512965905
fpbp

>>512966179
it's 3500 not 35000. also the $35 peg didn't represent actual value. it was just a fake construct for the USA only. you're the one most in need of being schooled by bots about your own ignorance.