<< <i>And in the early 1960's when I first visited McD's, $1.00 bought me two plain burgers, a shake, and fries. And I was plenty full.
We certainly have price deflation out there, but not in things we routinely consume such as food, energy, services, taxes, fees, etc. Deflation is certainly occurring in financial assets of varying sorts as black holes get stuffed with cash, some of it leaking out into the economy. The two "flation's" can co-exist quite well in the current environment. >>
Good point!
On the interest on $9,165 a person could eat lunch at McDounell's 365 days a year and still have change left over for leap years. Today the same masochist would need $730,000.00 in the bank.
In other words this establishment now charges more than 750 times as much in terms of interest rates as it did in the '60's.
But if you have a penny coming back from your fin they'll still be sure to give it to you.
On the interest on $9,165 a person could eat lunch at McDounell's 365 days a year and still have change left over for leap years. Today the same masochist would need $730,000.00 in the bank.
In other words this establishment now charges more than 750 times as much in terms of interest rates as it did in the '60's.
But if you have a penny coming back from your fin they'll still be sure to give it to you. >>
It's even worse in terms of putting the cost of the food on your credit card bill since now days they lend money at 25% or more. If you eat there every day it wouldn't take long till you owe them a $730,000.
On the interest on $9,165 a person could eat lunch at McDounell's 365 days a year and still have change left over for leap years. Today the same masochist would need $730,000.00 in the bank.
In other words this establishment now charges more than 750 times as much in terms of interest rates as it did in the '60's.
But if you have a penny coming back from your fin they'll still be sure to give it to you. >>
It's even worse in terms of putting the cost of the food on your credit card bill since now days they lend money at 25% or more. If you eat there every day it wouldn't take long till you owe them a $730,000.
It's turned into bizzarro world.
if this really is a bizzarro world, it may have something to do with some folks doing math and logic such as the above, and then being really concerned with the "conclusions"
My local pizza shop just raised the price of a large cheese pizza from $6.99 to $10.49!!!! Outrageous---- I cant believe they were selling a large pizza for less than 7 bucks!!
However, you can still get the pizza for $6.99 on Monday, Tuesday, Wednesday from 4-8pm.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Inflation wouldn't be a problem if you could eat a PC or drive a large screen TV. >>
While I understand your point, I would add that in 1996 I bought a Mercedes C-280 new with an MSRP of about $35,000. That same comparable car made today--C250--has an MSRP of about $35,000. And one could easily argue that I am getting much more with the 2012 than the 1996.
<< <i>And in the early 1960's when I first visited McD's, $1.00 bought me two plain burgers, a shake, and fries. And I was plenty full.
We certainly have price deflation out there, but not in things we routinely consume such as food, energy, services, taxes, fees, etc. Deflation is certainly occurring in financial assets of varying sorts as black holes get stuffed with cash, some of it leaking out into the economy. The two "flation's" can co-exist quite well in the current environment. >>
That same dollar back in the 1960's took you an hour to earn. Now you earn it in about a minute.
<< <i> if this really is a bizzarro world, it may have something to do with some folks doing math and logic such as the above, and then being really concerned with the "conclusions"
<< <i> That same dollar back in the 1960's took you an hour to earn. Now you earn it in about a minute. >>
I don't think it's qotten to that far a difference. Real average wages as reported by the US govt peaked back in 1973 when one wage earner per family was still the norm.
When I worked at a summer job in the mid-1960's it was around $2.50/hr. My menial summer job in the early 1970's was $3.25/hr. Have quite a ways to go still before I'm making $150-$195/hr.
<< <i> That same dollar back in the 1960's took you an hour to earn. Now you earn it in about a minute. >>
I don't think it's qotten to that far a difference. Real average wages as reported by the US govt peaked back in 1973 when one wage earner per family was still the norm.
When I worked at a summer job in the mid-1960's it was around $2.50/hr. My menial summer job in the early 1970's was $3.25/hr. Have quite a ways to go still before I'm making $150-$195/hr. >>
<< <i> That same dollar back in the 1960's took you an hour to earn. Now you earn it in about a minute. >>
I don't think it's qotten to that far a difference. Real average wages as reported by the US govt peaked back in 1973 when one wage earner per family was still the norm.
When I worked at a summer job in the mid-1960's it was around $2.50/hr. My menial summer job in the early 1970's was $3.25/hr. Have quite a ways to go still before I'm making $150-$195/hr. >>
Just basing it on real life experience. In the late 1960's I earned a little less than $1.00 an hour with a paper route. Today I earn about $60. an hour, give or take.
Other's probably have a similar experience, although make much, much more today than I.
(I'm still of the belief that a double hamburger with cheese, on our McDonald's value meal menu here in Encinitas, is a bargain at 99c or a Subway footlong is $5.)
<< <i>Just basing it on real life experience. In the late 1960's I earned a little less than $1.00 an hour with a paper route. Today I earn about $60. an hour, give or take.
Other's probably have a similar experience, although make much, much more today than I.
(I'm still of the belief that a double hamburger with cheese, on our McDonald's value meal menu here in Encinitas, is a bargain at 99c or a Subway footlong is $5.) >>
Go take a job for a paper route and report back to us. The simple fact is most people make around minimum wage when they start and as they get training an into a career they make quite a bit more after a few decades of working. The problem now is that the past is over. We aren't creating high paying careers like the past just jobs. I've been blessed but since the global economy many companies are off-shoring of high paying jobs to keep profits up. When I threw the paper it was by piece and not by an hourly wage.
The decades to come isn't going to be like when you and I grew up. I know a whole list of people looking for work at a decent wage that have experience and degrees. To bad the fortune 500 companies don't value experience and team work anymore and many companies are in-sourcing because there low cost model isn't working as well as they'd hoped since they train a resource and a year latter they go get a real job. Not unlike us (usually in the same company) taking a entry level job to gain knowledge and then apply for jobs to move up in the food chain.
I can't remember how much Mcdonalds was back in the day but I do know we could buy a whole meal hamburger, fries, and a shake for under a buck. Drinks and fry were always cheap now the pink slime hamburger they server is over a buck by itself. The quality of the meat was much better too, the additives they're putting in now is to keep food cost down.
Probably in 2062, members on this board will be complaining that the $30 value burger was only a dollar when they were a kid, and the good $100 good fast hot sandwich used to only be $4
they'll make half a million a year, gold will be $10,000, and there will be a new generation of midases who say Gold to da Mooooon! !$50,000$! this spending is out of control!!!!
Yeah, I'd say the McD's plain burger is probably about 10x more expensive today than in the early 1960's. On price alone it's 6.6X higher. But we should also compare apples to apples and burgers to burgers. That 1962 burger was much larger, especially the patty itself. It pretty much covered the whole bun and was thicker...also...no green slime. A lot of that meat probably came from grass fed, free-ranging beef devoid of the hormones and drugs that today's beef gets. I chuckle when I open a plain burger today because the pickle isn't much smaller than the patty. Another factor to consider is that the 99c value menu (or $1.19 depending on your location) is meant to be a loss item to pull in customers and then fatten them up with fries, sodas, shakes, deserts, or an upgrade to a Big Mac. If they priced the burger as to actual cost with the same proft margin it would probably be closer to $1.20.
But I'm not complaining, at least not about the prices. It is cheap food that will fill you up for not a lot of money...even if it takes time off your life expectancy. That's the real soaking. If you gave me the choice today of an equivalent 1962 plain burger for $1.50 or a current one for 99c or even 89c....I'd take the orig style at the higher price. Quality counts.
<< <i>Probably in 2062, members on this board will be complaining that the $30 value burger was only a dollar when they were a kid, and the good $100 good fast hot sandwich used to only be $4
they'll make half a million a year, gold will be $10,000, and there will be a new generation of midases who say Gold to da Mooooon! !$50,000$! this spending is out of control!!!! >>
Baley if its true that everything is the same and people incomes are going up just as fast as prices than why is it that so many people cant pay their mortgages ? Why is it, that for the first time ever, half of all Americans are on some form of gov't welfare ? Yes thats true, right now half of all Americans are collecting from at least 1 of the gov't welfare programs. Why is it that for the first 205 years of the US existence we had a cumulative debt of $800 BILLION and last Year we had a debt of $1.3 TRILLION ? Why is it that we now have a national debt that is almost 7 times our annual budget when as recently as the year 2000 our national debt was less than 1 times our current budget. Why is it that this current generation is expected to do worse than their parents for probably the first time ever ?
<< <i>Baley if its true that everything is the same and people incomes are going up just as fast as prices than why is it that so many people cant pay their mortgages ? Why is it, that for the first time ever, half of all Americans are on some form of gov't welfare ? Yes thats true, right now half of all Americans are collecting from at least 1 of the gov't welfare programs. Why is it that for the first 205 years of the US existence we had a cumulative debt of $800 BILLION and last Year we had a debt of $1.3 TRILLION ? Why is it that we now have a national debt that is almost 7 times our annual budget when as recently as the year 2000 our national debt was less than 1 times our current budget. Why is it that this current generation is expected to do worse than their parents for probably the first time ever ? >>
For every bustling and thriving Baleyville, there's a corresponding Pottersville. 50-50.
<< <i>But we should also compare apples to apples and burgers to burgers. That 1962 burger was much larger, especially the patty itself. It pretty much covered the whole bun and was thicker...also...no green slime. >>
I guess you don't follow the CPI calculation methodology. When the price increases then people are willing to switch to smaller, green slime burgers rather that the big beef patty so you have to use the price of the current meal. Just like they figure that a computer with a 4ghz processor should only be counted as 1/4th of its price when compared with an old computer with a 1ghz processor.
<< <i>But we should also compare apples to apples and burgers to burgers. That 1962 burger was much larger, especially the patty itself. It pretty much covered the whole bun and was thicker...also...no green slime. >>
I guess you don't follow the CPI calculation methodology. When the price increases then people are willing to switch to smaller, green slime burgers rather that the big beef patty so you have to use the price of the current meal. Just like they figure that a computer with a 4ghz processor should only be counted as 1/4th of its price when compared with an old computer with a 1ghz processor. >>
Nope....I've never written anything here about the old CPI methodologies.
Apparently you missed that precise point in my analogy concerning substitution effects, quality factors, and hedonics. If you want a real hoot go read about the quality effects on washers and dryers on the BLS website....a dozen or two pages of it. Pottersville serves green slime micro-patties.....Baleyville the 8 oz organic Angus whoppers with imported Swiss feta.
Baley if its true that everything is the same and people incomes are going up just as fast as prices than why is it that so many people cant pay their mortgages ? Why is it, that for the first time ever, half of all Americans are on some form of gov't welfare ? Yes thats true, right now half of all Americans are collecting from at least 1 of the gov't welfare programs. Why is it that for the first 205 years of the US existence we had a cumulative debt of $800 BILLION and last Year we had a debt of $1.3 TRILLION ? Why is it that we now have a national debt that is almost 7 times our annual budget when as recently as the year 2000 our national debt was less than 1 times our current budget. Why is it that this current generation is expected to do worse than their parents for probably the first time ever ?
I didn't say everything is the same. Only that every generation tends to romanticize the "good old days" and obsess about the "bad new days" (which, in turn, become the new good old days in hindsight)
Mostly, the problems you cite are due to poor decision making. We've also had to pay for a couple of wars and disaster cleanups, and are collectively suffering an economic hangover from a hellova credit party.
Why is it, that for the first time ever, half of all Americans are on some form of gov't welfare
Im not Baley, but i'll answer. Poor people are having more babies than rich people. This has nothing to do with economics or politics. Just simple demographics.
But I will add another question to you line of questioning......why is it that gold is at $1650, when it was at $250 just 10 years ago?
Braddick, my point was simply to show Goldlover that while his questing was valid, the response in the price of gold may already account for his view of the USA's state of affairs.
<< <i>Im not Baley, but i'll answer. Poor people are having more babies than rich people. This has nothing to do with economics or politics. Just simple demographics.
But I will add another question to you line of questioning......why is it that gold is at $1650, when it was at $250 just 10 years ago? >>
I don't agree that demographics has nothing to do with economics, they are linked.
<< <i>Im not Baley, but i'll answer. Poor people are having more babies than rich people. This has nothing to do with economics or politics. Just simple demographics.
But I will add another question to you line of questioning......why is it that gold is at $1650, when it was at $250 just 10 years ago? >>
I don't agree that demographics has nothing to do with economics, they are linked. >>
Of course they are, but the framing of the question blamed the burden on a bad economy, when it is not entirely the economy's fault. The overall economy would be much better if we, and the world, had better demographics right now.
What happened to dishwashing detergent? It used to come out of the bottle like cold motor oil, now it's like water, but on the package it tells me how much more I'm getting "free."
Growing up in the 50's everyone had a Mother at home, now they all work.
<< <i>What happened to dishwashing detergent? It used to come out of the bottle like cold motor oil, now it's like water, but on the package it tells me how much more I'm getting "free."
Growing up in the 50's everyone had a Mother at home, now they all work. >>
That was back in the day that thawing fish didn't swim in a cocktail of sodium tripolyphosphate and water and hamburger was meat instead of slime.
So why isn't there an investigation about adding this stuff to the food and not listing it on the label?
We pay extra to have them adulterate our food and add water to dishwashing liquid raising shipping costs. Nabisco and most others care so little about staying in business that they shrink package sizes destroying long term value in order to get short term profits that just go to the CEO. A half gallon of icecream is barely two pints anymore. They all trip over one another to lower the value of their products. It seems they'd rather fool their customers than even to make a profit.
<< <i> I don't agree that demographics has nothing to do with economics, they are linked. >>
Yes. Demographics are normally the number one driver of all major economic changes. It falls to #2 during wars but, then, demographics are a major driver of war as well.
<< <i>What happened to dishwashing detergent? It used to come out of the bottle like cold motor oil, now it's like water, but on the package it tells me how much more I'm getting "free."
Growing up in the 50's everyone had a Mother at home, now they all work. >>
That was back in the day that thawing fish didn't swim in a cocktail of sodium tripolyphosphate and water and hamburger was meat instead of slime.
So why isn't there an investigation about adding this stuff to the food and not listing it on the label?
We pay extra to have them adulterate our food and add water to dishwashing liquid raising shipping costs. Nabisco and most others care so little about staying in business that they shrink package sizes destroying long term value in order to get short term profits that just go to the CEO. A half gallon of icecream is barely two pints anymore. They all trip over one another to lower the value of their products. It seems they'd rather fool their customers than even to make a profit. >>
weigh an ex-half gallon but now 25% less at 1.5 quarts of Breyers Vanllia, then a 1.5 quart carton of a more expensive one like mint choc chip or oreo cookie. you'll find the vanilla is heavier (it used to be when I did this) {more air whipped into the costlier flavors}
<< <i> I don't agree that demographics has nothing to do with economics, they are linked. >>
Yes. Demographics are normally the number one driver of all major economic changes. It falls to #2 during wars but, then, demographics are a major driver of war as well. >>
Demographics determine demand.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>That was back in the day that thawing fish didn't swim in a coktail of sodium tripolyphosphate and water and hamburger was meat instead of slime.
Interesting that in 1960 life expectancy was 69 years. Today 78. Those preservatives seem to be good for something >>
I thought the protest against pink slime was about the additive at first.
<< <i>That was back in the day that thawing fish didn't swim in a coktail of sodium tripolyphosphate and water and hamburger was meat instead of slime.
Interesting that in 1960 life expectancy was 69 years. Today 78. Those preservatives seem to be good for something >>
I thought the protest against pink slime was about the additive at first.
I hope they don't protest hot dogs and sausages. >>
Cattle prices are down about 10% since the pink slime story. Hogs down about 7%.
Ok, went to McDonalds yesterday to check out the value menu: got a McChicken sandwich ($1.00) small fries (1.29) and a 32oz. coke (0.69), with tax the meal was $3.21
a few notes:
this was only a snack, neither the sandwich nor the order of fries was very big for a grown man, and while the chicken was tasty, it was a breaded formed patty not a piece of meat. the soda was all you can drink, and I drank 2 full ones, when I was a kid, you wanted another soda, you bought another one, complete with another cup, lid, straw. The fries were, of course, delicious
i saw many retirees ordering from the value menu, and moms with kids in tow, and also many workmen, although they tended to get more than one sandwich, one guy in boots ordered 6 sandwiches, 4 fries, and two large drinks to go. One senior ordered a mcchicken and one of their upscale coffees and spend under $3. there was a group of teen punks, also eating Value
there were many value menu choices, a McDouble burger for $1 (no cheese on this sandwich), a double cheeseburger for $1.29, 3 kinds of wraps for $1.69, pies were 0.69 each or two for a dollar, a sundae or parfait was a dollar, and there were 4 breakfast sandwiches for a dollar each, hash browns were 0.69, 20 mcnuggets for $4.99, giant soda .69
the "good" sandwich meals (Angus deluxe, QPw/cheese (royale wid cheese), grilled chicken filet, are indeed higher priced than I remember from a few years ago, averaging $7-8 (used to be $4 20 years ago, and maybe $6 a few years ago) this is a nice big sandwich that tastes better than I remember fast food tasting when I was a kid. Never did like a Big Mac
the place was packed, and I saw neither any McEmployees twisting anyone's arms to order food, nor any customers complaining about the prices.
Comments
<< <i>And in the early 1960's when I first visited McD's, $1.00 bought me two plain burgers, a shake, and fries. And I was plenty full.
We certainly have price deflation out there, but not in things we routinely consume such as food, energy, services, taxes, fees, etc.
Deflation is certainly occurring in financial assets of varying sorts as black holes get stuffed with cash, some of it leaking out into the economy.
The two "flation's" can co-exist quite well in the current environment. >>
Good point!
On the interest on $9,165 a person could eat lunch at McDounell's 365 days a year and
still have change left over for leap years. Today the same masochist would need $730,000.00
in the bank.
In other words this establishment now charges more than 750 times as much in terms of
interest rates as it did in the '60's.
But if you have a penny coming back from your fin they'll still be sure to give it to you.
<< <i>
Good point!
On the interest on $9,165 a person could eat lunch at McDounell's 365 days a year and
still have change left over for leap years. Today the same masochist would need $730,000.00
in the bank.
In other words this establishment now charges more than 750 times as much in terms of
interest rates as it did in the '60's.
But if you have a penny coming back from your fin they'll still be sure to give it to you. >>
It's even worse in terms of putting the cost of the food on your credit card bill since now days they lend money at
25% or more. If you eat there every day it wouldn't take long till you owe them a $730,000.
It's turned into bizzarro world.
<< <i>The prices at McDonald's are still the same for me because I eat off of the dollar menu. That leaves me more to spend on coins. >>
a few area McD's have taken fries off the dollar menu and put them on the $1.19 menu
I also paid $1.19 for a sundae at one McD's, with them taking that off the $1 menu, too. It's an eternally busy McD's, too. They have volume sales.
Good point!
On the interest on $9,165 a person could eat lunch at McDounell's 365 days a year and
still have change left over for leap years. Today the same masochist would need $730,000.00
in the bank.
In other words this establishment now charges more than 750 times as much in terms of
interest rates as it did in the '60's.
But if you have a penny coming back from your fin they'll still be sure to give it to you. >>
It's even worse in terms of putting the cost of the food on your credit card bill since now days they lend money at
25% or more. If you eat there every day it wouldn't take long till you owe them a $730,000.
It's turned into bizzarro world.
if this really is a bizzarro world, it may have something to do with some folks doing math and logic such as the above, and then being really concerned with the "conclusions"
how much is a Royale with cheese?
Liberty: Parent of Science & Industry
However, you can still get the pizza for $6.99 on Monday, Tuesday, Wednesday from 4-8pm.
Knowledge is the enemy of fear
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>papa john's coupons.
Nope, no coupons needed.
http://niceneasystores.com/
Knowledge is the enemy of fear
<< <i>Inflation wouldn't be a problem if you could eat a PC or drive a large screen TV.
While I understand your point, I would add that in 1996 I bought a Mercedes C-280 new with an MSRP of about $35,000. That same comparable car made today--C250--has an MSRP of about $35,000. And one could easily argue that I am getting much more with the 2012 than the 1996.
Knowledge is the enemy of fear
<< <i>And in the early 1960's when I first visited McD's, $1.00 bought me two plain burgers, a shake, and fries. And I was plenty full.
We certainly have price deflation out there, but not in things we routinely consume such as food, energy, services, taxes, fees, etc.
Deflation is certainly occurring in financial assets of varying sorts as black holes get stuffed with cash, some of it leaking out into the economy.
The two "flation's" can co-exist quite well in the current environment. >>
That same dollar back in the 1960's took you an hour to earn. Now you earn it in about a minute.
peacockcoins
<< <i>
if this really is a bizzarro world, it may have something to do with some folks doing math and logic such as the above, and then being really concerned with the "conclusions"
>>
OK, 75 times. I believe the point stands.
<< <i> That same dollar back in the 1960's took you an hour to earn. Now you earn it in about a minute. >>
I don't think it's qotten to that far a difference. Real average wages as reported by the US govt peaked back in 1973 when one wage earner per family was still the norm.
When I worked at a summer job in the mid-1960's it was around $2.50/hr. My menial summer job in the early 1970's was $3.25/hr.
Have quite a ways to go still before I'm making $150-$195/hr.
<< <i>
<< <i> That same dollar back in the 1960's took you an hour to earn. Now you earn it in about a minute. >>
I don't think it's qotten to that far a difference. Real average wages as reported by the US govt peaked back in 1973 when one wage earner per family was still the norm.
When I worked at a summer job in the mid-1960's it was around $2.50/hr. My menial summer job in the early 1970's was $3.25/hr.
Have quite a ways to go still before I'm making $150-$195/hr. >>
Right here, my brother. Mimimum Wage= $1.00 in the 1960's
peacockcoins
<< <i>
<< <i>
<< <i> That same dollar back in the 1960's took you an hour to earn. Now you earn it in about a minute. >>
I don't think it's qotten to that far a difference. Real average wages as reported by the US govt peaked back in 1973 when one wage earner per family was still the norm.
When I worked at a summer job in the mid-1960's it was around $2.50/hr. My menial summer job in the early 1970's was $3.25/hr.
Have quite a ways to go still before I'm making $150-$195/hr. >>
Right here, my brother. Mimimum Wage= $1.00 in the 1960's >>
Fair enough. So that min wage worker of the 1960's now can earn a $1 FRN in 6-7 minutes....not 1 minute.
In the late 1960's I earned a little less than $1.00 an hour with a paper route.
Today I earn about $60. an hour, give or take.
Other's probably have a similar experience, although make much, much more today than I.
(I'm still of the belief that a double hamburger with cheese, on our McDonald's value meal menu here in Encinitas, is a bargain at 99c or a Subway footlong is $5.)
peacockcoins
<< <i>Just basing it on real life experience.
In the late 1960's I earned a little less than $1.00 an hour with a paper route.
Today I earn about $60. an hour, give or take.
Other's probably have a similar experience, although make much, much more today than I.
(I'm still of the belief that a double hamburger with cheese, on our McDonald's value meal menu here in Encinitas, is a bargain at 99c or a Subway footlong is $5.) >>
Go take a job for a paper route and report back to us. The simple fact is most people make around minimum wage when they start and as they get training an into a career they make quite a bit more after a few decades of working. The problem now is that the past is over. We aren't creating high paying careers like the past just jobs. I've been blessed but since the global economy many companies are off-shoring of high paying jobs to keep profits up. When I threw the paper it was by piece and not by an hourly wage.
The decades to come isn't going to be like when you and I grew up. I know a whole list of people looking for work at a decent wage that have experience and degrees. To bad the fortune 500 companies don't value experience and team work anymore and many companies are in-sourcing because there low cost model isn't working as well as they'd hoped since they train a resource and a year latter they go get a real job. Not unlike us (usually in the same company) taking a entry level job to gain knowledge and then apply for jobs to move up in the food chain.
The average wage earner is making 10X's what they did in the mid 1960's
LINK
You telling me the McDonald's hamburger is 10X's more expensive?
peacockcoins
they'll make half a million a year, gold will be $10,000, and there will be a new generation of midases who say Gold to da Mooooon! !$50,000$! this spending is out of control!!!!
Liberty: Parent of Science & Industry
But I'm not complaining, at least not about the prices. It is cheap food that will fill you up for not a lot of money...even if it takes time off your life expectancy. That's the real soaking.
If you gave me the choice today of an equivalent 1962 plain burger for $1.50 or a current one for 99c or even 89c....I'd take the orig style at the higher price. Quality counts.
<< <i>Probably in 2062, members on this board will be complaining that the $30 value burger was only a dollar when they were a kid, and the good $100 good fast hot sandwich used to only be $4
they'll make half a million a year, gold will be $10,000, and there will be a new generation of midases who say Gold to da Mooooon! !$50,000$! this spending is out of control!!!! >>
Baley if its true that everything is the same and people incomes are going up just as fast as prices than why is it that so many people cant pay their mortgages ? Why is it, that for the first time ever, half of all Americans are on some form of gov't welfare ? Yes thats true, right now half of all Americans are collecting from at least 1 of the gov't welfare programs. Why is it that for the first 205 years of the US existence we had a cumulative debt of $800 BILLION and last Year we had a debt of $1.3 TRILLION ? Why is it that we now have a national debt that is almost 7 times our annual budget when as recently as the year 2000 our national debt was less than 1 times our current budget. Why is it that this current generation is expected to do worse than their parents for probably the first time ever ?
<< <i>Baley if its true that everything is the same and people incomes are going up just as fast as prices than why is it that so many people cant pay their mortgages ? Why is it, that for the first time ever, half of all Americans are on some form of gov't welfare ? Yes thats true, right now half of all Americans are collecting from at least 1 of the gov't welfare programs. Why is it that for the first 205 years of the US existence we had a cumulative debt of $800 BILLION and last Year we had a debt of $1.3 TRILLION ? Why is it that we now have a national debt that is almost 7 times our annual budget when as recently as the year 2000 our national debt was less than 1 times our current budget. Why is it that this current generation is expected to do worse than their parents for probably the first time ever ? >>
For every bustling and thriving Baleyville, there's a corresponding Pottersville. 50-50.
<< <i>But we should also compare apples to apples and burgers to burgers. That 1962 burger was much larger, especially the patty itself. It pretty much covered the whole bun and was thicker...also...no green slime. >>
I guess you don't follow the CPI calculation methodology. When the price increases then people are willing to switch to smaller, green slime burgers rather that the big beef patty so you have to use the price of the current meal. Just like they figure that a computer with a 4ghz processor should only be counted as 1/4th of its price when compared with an old computer with a 1ghz processor.
<< <i>
<< <i>But we should also compare apples to apples and burgers to burgers. That 1962 burger was much larger, especially the patty itself. It pretty much covered the whole bun and was thicker...also...no green slime. >>
I guess you don't follow the CPI calculation methodology. When the price increases then people are willing to switch to smaller, green slime burgers rather that the big beef patty so you have to use the price of the current meal. Just like they figure that a computer with a 4ghz processor should only be counted as 1/4th of its price when compared with an old computer with a 1ghz processor. >>
Nope....I've never written anything here about the old CPI methodologies.
Apparently you missed that precise point in my analogy concerning substitution effects, quality factors, and hedonics. If you want a real hoot go read about the quality effects on
washers and dryers on the BLS website....a dozen or two pages of it. Pottersville serves green slime micro-patties.....Baleyville the 8 oz organic Angus whoppers with imported Swiss feta.
Baley if its true that everything is the same and people incomes are going up just as fast as prices than why is it that so many people cant pay their mortgages ? Why is it, that for the first time ever, half of all Americans are on some form of gov't welfare ? Yes thats true, right now half of all Americans are collecting from at least 1 of the gov't welfare programs. Why is it that for the first 205 years of the US existence we had a cumulative debt of $800 BILLION and last Year we had a debt of $1.3 TRILLION ? Why is it that we now have a national debt that is almost 7 times our annual budget when as recently as the year 2000 our national debt was less than 1 times our current budget. Why is it that this current generation is expected to do worse than their parents for probably the first time ever ?
I didn't say everything is the same. Only that every generation tends to romanticize the "good old days" and obsess about the "bad new days" (which, in turn, become the new good old days in hindsight)
Mostly, the problems you cite are due to poor decision making. We've also had to pay for a couple of wars and disaster cleanups, and are collectively suffering an economic hangover from a hellova credit party.
Liberty: Parent of Science & Industry
Im not Baley, but i'll answer. Poor people are having more babies than rich people. This has nothing to do with economics or politics. Just simple demographics.
But I will add another question to you line of questioning......why is it that gold is at $1650, when it was at $250 just 10 years ago?
Knowledge is the enemy of fear
Prices go up. Some faster than others.
peacockcoins
<< <i>For the same reason Apple stock was 85 just four years ago, and is now 615.
Prices go up. Some faster than others. >>
too simplistic
in 2008, Research in Motion was over $120, now it's at $13
each has their own story.
what's gold's story?
Knowledge is the enemy of fear
The simplest explanation is generally the accurate one.
peacockcoins
<< <i>Im not Baley, but i'll answer. Poor people are having more babies than rich people. This has nothing to do with economics or politics. Just simple demographics.
But I will add another question to you line of questioning......why is it that gold is at $1650, when it was at $250 just 10 years ago? >>
I don't agree that demographics has nothing to do with economics, they are linked.
<< <i>
<< <i>Im not Baley, but i'll answer. Poor people are having more babies than rich people. This has nothing to do with economics or politics. Just simple demographics.
But I will add another question to you line of questioning......why is it that gold is at $1650, when it was at $250 just 10 years ago? >>
I don't agree that demographics has nothing to do with economics, they are linked. >>
Of course they are, but the framing of the question blamed the burden on a bad economy, when it is not entirely the economy's fault. The overall economy would be much better if we, and the world, had better demographics right now.
Knowledge is the enemy of fear
Growing up in the 50's everyone had a Mother at home, now they all work.
<< <i>What happened to dishwashing detergent? It used to come out of the bottle like cold motor oil, now it's like water, but on the package it tells me how much more I'm getting "free."
Growing up in the 50's everyone had a Mother at home, now they all work. >>
That was back in the day that thawing fish didn't swim in a cocktail of sodium tripolyphosphate and water and hamburger was meat instead of slime.
So why isn't there an investigation about adding this stuff to the food and not listing it on the label?
We pay extra to have them adulterate our food and add water to dishwashing liquid raising shipping costs. Nabisco and most others care so little about staying in business that they shrink package sizes destroying long term value in order to get short term profits that just go to the CEO. A half gallon of icecream is barely two pints anymore. They all trip over one another to lower the value of their products. It seems they'd rather fool their customers than even to make a profit.
<< <i>
I don't agree that demographics has nothing to do with economics, they are linked. >>
Yes. Demographics are normally the number one driver of all major economic changes. It falls
to #2 during wars but, then, demographics are a major driver of war as well.
<< <i>
<< <i>What happened to dishwashing detergent? It used to come out of the bottle like cold motor oil, now it's like water, but on the package it tells me how much more I'm getting "free."
Growing up in the 50's everyone had a Mother at home, now they all work. >>
That was back in the day that thawing fish didn't swim in a cocktail of sodium tripolyphosphate and water and hamburger was meat instead of slime.
So why isn't there an investigation about adding this stuff to the food and not listing it on the label?
We pay extra to have them adulterate our food and add water to dishwashing liquid raising shipping costs. Nabisco and most others care so little about staying in business that they shrink package sizes destroying long term value in order to get short term profits that just go to the CEO. A half gallon of icecream is barely two pints anymore. They all trip over one another to lower the value of their products. It seems they'd rather fool their customers than even to make a profit. >>
weigh an ex-half gallon but now 25% less at 1.5 quarts of Breyers Vanllia, then a 1.5 quart carton of a more expensive one like mint choc chip or oreo cookie. you'll find the vanilla is heavier (it used to be when I did this) {more air whipped into the costlier flavors}
<< <i>
<< <i>
I don't agree that demographics has nothing to do with economics, they are linked. >>
Yes. Demographics are normally the number one driver of all major economic changes. It falls
to #2 during wars but, then, demographics are a major driver of war as well. >>
Demographics determine demand.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Interesting that in 1960 life expectancy was 69 years. Today 78. Those preservatives seem to be good for something
Knowledge is the enemy of fear
<< <i>That was back in the day that thawing fish didn't swim in a coktail of sodium tripolyphosphate and water and hamburger was meat instead of slime.
Interesting that in 1960 life expectancy was 69 years. Today 78. Those preservatives seem to be good for something >>
I thought the protest against pink slime was about the additive at first.
I hope they don't protest hot dogs and sausages.
And people wonder where all our tax dollars go.
<< <i>Washer and dryer hedonics in the CPI - 54 pages of data from the BLS
And people wonder where all our tax dollars go.
thanks!
great future reading.
<< <i>
<< <i>That was back in the day that thawing fish didn't swim in a coktail of sodium tripolyphosphate and water and hamburger was meat instead of slime.
Interesting that in 1960 life expectancy was 69 years. Today 78. Those preservatives seem to be good for something >>
I thought the protest against pink slime was about the additive at first.
I hope they don't protest hot dogs and sausages. >>
Cattle prices are down about 10% since the pink slime story. Hogs down about 7%.
Knowledge is the enemy of fear
a few notes:
this was only a snack, neither the sandwich nor the order of fries was very big for a grown man, and while the chicken was tasty, it was a breaded formed patty not a piece of meat. the soda was all you can drink, and I drank 2 full ones, when I was a kid, you wanted another soda, you bought another one, complete with another cup, lid, straw. The fries were, of course, delicious
i saw many retirees ordering from the value menu, and moms with kids in tow, and also many workmen, although they tended to get more than one sandwich, one guy in boots ordered 6 sandwiches, 4 fries, and two large drinks to go. One senior ordered a mcchicken and one of their upscale coffees and spend under $3. there was a group of teen punks, also eating Value
there were many value menu choices, a McDouble burger for $1 (no cheese on this sandwich), a double cheeseburger for $1.29, 3 kinds of wraps for $1.69, pies were 0.69 each or two for a dollar, a sundae or parfait was a dollar, and there were 4 breakfast sandwiches for a dollar each, hash browns were 0.69, 20 mcnuggets for $4.99, giant soda .69
the "good" sandwich meals (Angus deluxe, QPw/cheese (royale wid cheese), grilled chicken filet, are indeed higher priced than I remember from a few years ago, averaging $7-8 (used to be $4 20 years ago, and maybe $6 a few years ago) this is a nice big sandwich that tastes better than I remember fast food tasting when I was a kid. Never did like a Big Mac
the place was packed, and I saw neither any McEmployees twisting anyone's arms to order food, nor any customers complaining about the prices.
Liberty: Parent of Science & Industry
Box of 20
Up 32% !
Nah, there's no inflation.
Got quoins?
<< <i>You guys have to stop going to McDonalds, that stuff will kill you!! Try a nice burrito from Chipotle. >>
Now you're talking! Totally worth the $6.65!