Posts
Using this inflation calculator to check the picture found here.
The calculator says there was 483.1% inflation, that means a 1975 dollar is $5.83 in 2024.
$39,300 house should become $239,144.57.
$14,100 income should become $82,212.17.
$0.59 gas should become $3.44.
$1,500 college tuition should become $9,057.31
$3,800 new car should become $22,156.47
$150 rent should become $874.60.
$2.10 minimum wage should become $12.24
$0.28 loaf of bread should become $1.63
$1.55 movie ticket should become $9.04
Gee, you'd think the calculator might not be calibrated correctly. At least for those specific things.
A 23" Zenith TV was $420 in 1975. It should cost $2,599.78 today. They actually cost $99.
A Colt Gov't model was $175.50. It should cost $1,086.34 today, but actually comes in at $970.99.
Inflation is not even across all things, but calculators try to make it so.
The invisible hand does not care if something is relatively more or less valuable compared to 50 years ago.
I remember $70 Mosin-Nagant 91/30's around 2004. Inflation says that should only be $123.41, they're selling in the mid $400's now.
No comments:
Post a Comment
You are a guest here when you comment. This is my soapbox, not yours. Be polite. Inappropriate comments will be deleted without mention. Amnesty period is expired.
Do not go off on a tangent, stay with the topic of the post. If I can't tell what your point is in the first couple of sentences I'm flushing it.
If you're trying to comment anonymously: You can't. Log into your Google account.
If you can't comprehend this, don't comment; because I'm going to moderate and mock you for wasting your time.