"Comments from 1955" on the radio today

[crocoduck_hunter]

I was listening to a local radio station today when the DJ proceeded to read off the "Comments from 1955" UL. Would have called in, but I was so busy that by the time I got a chance, the station had switched DJs, and I figured by then that there wasn't much point.

The station's got an annoying habit of playing phony interviews and news reports on President Obama lately, as well.

And since they're the one radio station in the area that plays music I like, I've been stuck relying on my CD collection more and more.

[Errata]

Ugh, that one makes me want to claw my eyes out. It's so ignorant.

[faceless007]

I don't even understand what the moral is supposed to be. Yes, prices increase, it's called inflation. If you know a foolproof way to prevent that, please tell the Federal Reserve, I'm sure they'd like to know it.

[Lainie]

Originally Posted by faceless007

I don't even understand what the moral is supposed to be. Yes, prices increase, it's called inflation. If you know a foolproof way to prevent that, please tell the Federal Reserve, I'm sure they'd like to know it.

My mother, who lived through the Depression, responds to comments about how much lower prices were X number of years ago by saying, "And how much money did you make back then?"

[Archie2K]

Originally Posted by faceless007

I don't even understand what the moral is supposed to be. Yes, prices increase, it's called inflation. If you know a foolproof way to prevent that, please tell the Federal Reserve, I'm sure they'd like to know it.

Not even that. Central banks and governments typically aim for a small and stable rate of inflation around 2%. Because inflation will move around, they desperately want to avoid inflation falling below 0 as this damages the economy greatly - people expect things to get cheaper so put off buying them. Even if the Fed had some magic bullet that kept inflation at 2% every year, a haircut that cost you $3 in 1955 would now be almost an eye watering $9.

So it seems simple to keep these people happy. Every few years knock some zeroes off the currency. The haircut that cost me 200,000 cruzados last year now only costs 50! Everything is so much more affordable!

[queen of the caramels]

Originally Posted by Lainie

My mother, who lived through the Depression, responds to comments about how much lower prices were X number of years ago by saying, "And how much money did you make back then?"

Sounds like my GM, when people used to say how they never needed to lock thier doors in "the good old days". She would acidly respond thet most folks were too poor to buy a lock first.

[Tarquin Farquart]

They always leave off the "Average take-home pay was $X" in these lists for some reason.

[snopes]

Originally Posted by Tarquin Farquart

They always leave off the "Average take-home pay was $X" in these lists for some reason.

"The Bureau of Labor Statistics reports that during October [1956] the average [monthly] take-home pay of the factory worker with three dependents increased 50 cents to $74.87, a new peak, compared with $72.07 a year earlier."

http://www.aier.org/archive/doc_down...ports-12031956

[Errata]

Originally Posted by snopes

"The Bureau of Labor Statistics reports that during October [1956] the average [monthly] take-home pay of the factory worker with three dependents increased 50 cents to $74.87, a new peak, compared with $72.07 a year earlier."

Jesus, if you scale that by the consumer price index it's supposedly only a buying power in 2009 of $7000 annually. Ah, the good old days.

[WildaBeast]

Originally Posted by Errata

Jesus, if you scale that by the consumer price index it's supposedly only a buying power in 2009 of $7000 annually. Ah, the good old days.

I was looking at an old 1970s era VW ad on youtube a while back. Someone left the comment "I wish I could get a brand new car for $1999 today." So I figured out what that would be in today's dollars. It was just a tad over $10,000, about what you'd pay for a base model Hyundai Accent. So really you can get a car for that price.

[Ali Infree]

Of course everything cost less in 1955 relative to inflation. So what? I remember hungering for a Triumph Spitfire when I was about 16. I sent away to whoever was importing them to the US for British Leyland. I think they cost, depending on options, about $2200 then. That would convert to about $13,000 now with inflation, which is pretty close to what you would pay to get a 1968 Spitfire in good condition.

Another $2800 would get you a Cadillac in 1968. I don't know the market for 1968 Caddies though.

Ali "change is a paradigm, not just 20 cents" Infree

[DawnStorm]

Originally Posted by Lainie

My mother, who lived through the Depression, responds to comments about how much lower prices were X number of years ago by saying, "And how much money did you make back then?"

Once my father and I were discussing home prices; he mentioned the price he paid for his house in 1954 and I went . He then went on to mention what the average yearly salary was back then and I went and said that these days that would be poverty level.