Re:Summers: Inflation Reached 18% in 2022 Using the Governme...
by citizen_friend on Sunday April 21, 2024 @10:05PM
(#40110901)
> What is it then, that is so super expensive today, that wasn't too expensive in the 60s?
- Education. Include how much education you need and prep (duration increases costs and reduces wages).
- Insurance,
- Health care
- Transportation (gas, cost of vehicles, average commutes).
- Professional services (accounting, law, etc).
- Housing
The point is in 1960 you could be a normal member of society with no health insurance, a high school diploma, one car for your family, and 1000 square foot house downtown.
That game plan is no longer viable.
also it is a strawman to mention the poor people has it. the hierarchy of what you spend money on is not settled in a hiatorical occurance of said product. you don't buy a watch before a phone because it was invented first.
also, it is completely irrelevant. my proposition is that if you fix your comforts at the 60s level then you have greater spending power than equivalent people of the 60s