cross-posted from: lemmy.world/post/33655253
Just so we’re all on the same page - this is the same disjointed wage growth we were seeing under Biden that we were being told wasnt a big deal. It’s obviously gotten worse under Trump, but this has been a growing problem since at least the dotcom bubble
DagwoodIII@piefed.social 4 days ago
Also, the inflation for luxuries leaves regular inflation in the dust.
Back around 1960, $5,000.00 a year was a sold, middle class income. A Jaguar sportscar was about $6,000 and a Rolls was about $25,000.
Even if you spend the money to get a First Class airline ticket, you know that there are plenty of private planes out there.
Harlan Ellison wrote an essay about 'fuck you money,' the amount he needed to have in the bank so he could tell the studios to fuck off. Back in the day he could go six months on $1,000.
Zron@lemmy.world 4 days ago
1000 dollars in 1960 would be about 11 grand today.
I don’t know about you, but I don’t know if I’d last 6 months on 11 grand. Maybe 3 or 4. Rent alone would nuke over half of that, and I live in a cheap ass place.
We’ve been robbed
DagwoodIII@piefed.social 4 days ago
"Adjusted for inflation" is a lie.
Think of it this way. $1 million in 1960 would buy you a couple of mansions, a fleet of nice cars, and you'd have enough left to put into investments that would give you income for life.
$11 million today won't buy the nicest house on the block.