Comparing the cost of living between 1975 and 2015: You are being lied and fooled when it comes to inflation data and the cost of living.
- 35 Comment
Inflation is widely misunderstood by the public. Even economists tend to have a hard time coming to a general agreement to the true definition of inflation. When you ask the person on the street what inflation is they usually respond by saying the “price of things going up†which is more of a consequence of inflation, rather than the cause. Inflation is like a new car that lacks maintenance. At first, there is little notice of the issue but overtime major problems start occurring and eventually the car breaks down. If you want to see inflation out of control just look at Venezuela right now where people are swarming stores for basic food items. In the US inflation has occurred primarily because of the Federal Reserve’s banking policy. Too much cash (or debt in this case) chasing the same amount of goods. Only when we look at longer periods of time do we see the insidious nature of inflation. Yet somehow, the data used to measure inflation misses much of what is happening because it uses derivative like measures. For example, we use the owners’ equivalent of rent (OER) instead of the true monthly cost of owning a home. Let us take a look at some data between 1975 and 2015.
The cost of living shuffle
We continually hear about the middle class shrinking. But where are they shrinking to? Much of the disappearing act has come at the hands of inflation. That is, their income is no longer sufficient to support the items that we once categorized as part of the middle class: a car, a home, college education for the kids, and basic healthcare. For many Americans, these items are all getting out of reach. And for those that purchase them, they are required to go into massive debt with banks.
There is an interesting chart looking at the cost of items in 1975 versus today:
Source:Â David Stockman
This is a very telling chart. First, let us look at the biggest line item with housing. A new home today costs $270,200. That 1975 home adjusting for inflation would cost $209,417. This is a “real†increase of 29 percent. A new car costs $31,252 while that 1975 car adjusting for inflation would cost $16,578. This is a true doubling of cost here. Public college costs are up over 150% while private college costs are up over 160%. And you wonder why we have over $1.3 trillion in student debt outstanding.
What is more affordable relative to inflation? Milk, eggs, and a postage stamp. Unfortunately these are tiny line items on your household budget.
What you need to look at is the median income here. US households overall are simply poorer. They have less to spend relative to the cost of goods and services. Money is only as good as what it can purchase. You can’t eat hundred dollar bills. This is part of the reason why many people feel like they are poorer. It is also a big reason as to why the homeownership rate continues to fall.
The Fed uses the Consumer Price Index (CPI) to gauge if inflation is within range. Take a look:
According to recent data, we have nearly no inflation! How about that. Well look at the above chart. We have some major inflation going on but recent policy is dictated by recent changes in inflation. And you are also missing out on bigger changes like many young Americans having most of their debt and spending being consumed by college. The CPI gives only a tiny portion allocation to college education. Keep in mind the CPI is a weighted basket. So this misses out on a large cost for millions of Americans.
But look at even more recent data:
This is looking at price changes since 2000 and goes out to 2014. A barrel of oil has plunged since this chart was made (still up 100 percent from 2000). Ironically the savings aren’t passed to consumers since a gallon of gas is still expensive. The average home price is up more than 50 percent. Average monthly rent is up more than 40 percent. That new car is up more than 55 percent. Healthcare spending is up 100 percent. Yet the overall CPI rate is up 39 percent. You see how this misses out on the true changes in the market?
Gradual change is the name of the game with inflation. Slowly the nation is being owned by massive amounts of debt (meaning banks have full control over the public if they wish to buy a home, car, or even go to college). Credit card debt is once again surging. That is a lot of power to those controlling debt and given the rising cost of goods and stagnant incomes, people need debt to purchase the artifacts of what was once middle class living.
If you enjoyed this post click here to subscribe to a complete feed and stay up to date with today’s challenging market!
If you enjoyed this post click here to subscribe to a complete feed and stay up to date with today’s challenging market! 35 Comments on this post
Trackbacks
-
Ame said:
It would be interesting to see a cost of clothes and shoes comparison to the 1970’s. Also, toys and restaurant meals.
Growing up in the 70’s we had so much less. Shoes, for instance. We had a pair of “school shoes”. ONE Pair. Sometimes we wore a pair that our toes bumped inside for a few months before mom and dad could spring for a (too big) new pair. We had ONE pair of play shoes for after school (often the cast-off of a sibling’s) and weekends (if we weren’t barefoot) and Sunday School shoes (aka dress shoes). That is IF we were the lucky ones. We wore the same outfits week after week until our ankles and wrists stuck out the ends and even if they had stains and holes! Can you imagine the REVOLT from kids today?
Going out to eat was an “occasion” to be celebrated, not just because it’s dinnertime.
Toys were given on birthdays and Christmas. Often only one toy for each and the rest was things like p.j.’s and robes that were two sizes too big (to grow into) and stuff like new brushes and hair ribbons.
Practically nobody had new cars. Even in Middle Class neighborhoods like I grew up in. They said you were “uppity” if you “put on the ritz” with flashy clothes and jewelry, so everyone was conservative.
Things go in full circle. Perhaps that is where America is returning? It’s maybe not such a bad place to be. People actually looked at a person’s actions instead of their stuff and made a decision on whether or not they were “good people” to know.
August 4th, 2015 at 5:25 pm -
Beano said:
Money is just printed now. Not based on anything but how much to cover debt per year which uhh, raised the debt.
Is something about to implode? Inflation seems to tell us that overtime.
August 4th, 2015 at 9:13 pm -
RKae said:
I recently saw some my old comic books in a box. When I started reading them in the late ’60s they were 12 cents. That’s a 2 cent rise since WWII.
Then in the ’70s they went up steeply every year that I read them to the point where 50 cents seemed ridiculous, and I gave up the habit.
Now they’re 4 bucks! And they’re thinner! AND they have major advertisers! (Back in the dim past, it was cheap gimmicks like X-ray specs, Charles Atlas, and “Sell seeds and win a 10-speed bike!” Now it’s huge video game corporations! So why would the cost of the comic be higher if they have bigger sponsors?)
August 4th, 2015 at 10:01 pm -
SnowiGeorgie said:
I hate hate hate to agree with US Government bureaucrats on anything they do – – – – but I MUST SAY THIS : I bought a brand new car in 1971 ( a Ford ) and I was tickled to get Radial Tires and front disc brakes. No A/C for sure. And no FM or stereo or cassette player either. ( NO FM ! ! ! Can you believe it ? )
–
There is merit to HEDONIC ADJUSTMENT ! I bought a brand new Subaru in 2012, and besides A/C and 4 wheel disc brakes, THERE ARE TOO MANY IMPROVeMENTS ON THIS VEHICLE ( over the Ford ) TO LIST IN THIS COMMENT.
–
Too numerous to list ! ! Well, there’s a case to be made for hedonic adjustment when it comes to (i) color TVs or (ii) computers or (iii) Automobiles or (iv) any modern appliance such as micro-wave, refrigerator or air-conditioner.
–
I hate to agree with the lying bureaucrats at BLS, but there you have it – – – regarding “hedonic adjustments” – – – the truth is out there if you are willing to honestly assess improvements made.
–
SnowieGeorgie
–
––
August 5th, 2015 at 9:29 am -
Andy said:
I would argue (with no evidence to back it up whatsoever) that the cost of living comparison between 1975 and 2015 in 2015 dollars is not terribly indicative of any drastic change in the real worth of the purchasable items in the chart. The increase in the cost of a new home can be accounted for by the fact that homes today are much larger and use more elaborately made fire-resistant materials as required by regulations and law. Has anyone compared the square footage of the average home in 1975 with one in 2015 not to mention the difference in amenities? The increase in cost of a new car can be accounted for by the fact that cars today are much more elaborately made as required by regulations and law for the safety of the passengers as well as restrictive emission and mileage standards. A vehicle made today using 1975 standards would cost much, much less (and probably wouldn’t be legal to drive). I cannot account for the significant difference in the median income. I would suggest that there is a possibility that this is just a reflection of the real market value of the average US citizen. Maybe we just aren’t worth as much to employers as we used to be?
August 5th, 2015 at 11:13 am -
fidalgoman said:
When I was in High School I worked in a service station doing tune ups, oil changes and pumping gas. I was paid $2.50/hr. That’s approximately equivalent to $25+/hr in todays wages. IMHO watering down peoples savings and buying power is a criminal act of the government and is one of the most nefarious of hidden taxes we face.
August 5th, 2015 at 12:15 pm -
gman said:
“That is a lot of power to those controlling debt”
that’s the plan. always was.
August 5th, 2015 at 12:45 pm -
Chad said:
Nice to see the price comparisons.
I think health care should be higher, I remember paying $4 out of my paycheck for my single coverage around 1990. This was for excellent insurance!
This data shows why America will eventually be like Greece. Sad to see, greed and banks are ruining America.August 5th, 2015 at 1:37 pm -
a said:
yes, i get the point that cars cost more in 2015, along with food, gas, clothes and etc.
BUT………. technology costs weren’t included in 1975 prices, i.e. heated seats and curb finders and on line banking with a movie and wet bar I know it is all convoluted, that sucks.
August 6th, 2015 at 2:44 pm -
Spartacus Rex said:
Gee, Where is David Stockman buying his Dozen Eggs from?
http://3.bp.blogspot.com/-01s45XOEs5s/VaiRnbh7foI/AAAAAAAAahk/IHgEmAmEkKQ/s640/fredgraph.pngAugust 8th, 2015 at 2:46 am -
Jim Martin said:
Regarding ‘median income’, I believe that what you are referring to is actually median household income. In 1975, the typical household in the U.S. had only one wage earner. Today it takes two full-time workers to earn the equivalent gross income of one full-time wage earner in 1975. However, due to the fact that total taxes of all sorts are much higher today than they were in 1975, the net effective purchasing power of a two wage earner household today is much less than it was for a one wage earner household in 1975.
Something has gone terribly wrong over the last 40 years, no?
August 10th, 2015 at 6:19 am -
Jim Martin said:
Oh, and I forgot to mention this:
Don’t ever believe that this sad state of affairs in the U.S. all came about by accident. The folks who are in charge of things are not that stupid. They want more for themselves and less for us.
August 12th, 2015 at 10:07 am -
EdoubleU said:
Mr. Martin’s comment may be true if speaking about the postwar 1940s through the 1950’s. There’s only been a little over a 2% rise in dual employment married couples from 1975 to now. You can’t say costs have risen due to technology either because they were paying for the technology of their day. Costs rise from supply and demand but mainly because of us. It starts from stockholders wanting more return, businesses needing to meet stockholder demand, employees wanting to make more or at least be paid what they feel they’re worth, in turn having to raise prices to meet all these demands. Along with about a thousand other reasons. So let’s just blame ourselves and not the politicians, who by the way, you elected!
January 25th, 2016 at 10:43 pm -
Sharon said:
What this fails to take into account are things like car insurance, health insurance, auto maintenance, real estate taxes, doctor and hospital costs. You can make up any numbers you want, but if people don’t have a decent wage to cover their expenses, it doesn’t matter. We used to get TV over our antenna for free. Now it isn’t uncommon to pay $150.00/month for it. How many of us want to give up our internet? Most services charge a minimum of $49.95/month for their slowest service. Should we have to give up our cell phones? It’s hard to get a plan for less than $50.00/month.
March 11th, 2016 at 7:10 pm -
Alexis said:
Although I agree our buying power isn’t as good as it once was, especially for items like education, we as a nation do have choices.
For example, Sharon says we no longer have free TV. Yes, we do. Cable (and others) are options. The same is true for Internet and cell phones for many. There was a day when we lived without these things. We choose to have them.
We live in an environment where people are always competing with the Jones. Many want the most fanciest cars, biggest house, smart phones for their kids, expensive name brand clothes whether they can afford or not because we feel entitled and/or don’t want to feel less than.
When I was a kid, my parents and grandparents lived within their budget and if we couldn’t afford the fancy stuff, we didn’t get it. If all we could afford was a used car, we got a used car. We got clothes for Christmas and our birthday and we’re thankful.
I am not judging anyone as I, too, bought the lie. It wasn’t until I was in debt that I figured out that we are constantly being told to buy all these things because we deserve it or need it. We lost the difference between want and need. We need a car, but we don’t need the $40000 car.
Again, I’m not saying all is perfect, but when are we going to take responsibility for our actions as well. This is both greed of us and business, and businesses are doing what they’re supposed to do–make money. Otherwise, why would any business be in business.
April 1st, 2016 at 1:26 pm -
Julie S. said:
To the guy griping about cost of comics being $4 each? Guess you forgot the Cost of Living for the Writer & Artists are paid for, out of that meager $4 a book! As a Professional comic book artist & writer for 30 years, I’m amazed at how many people think we should draw for free, do it for the love. We do – and love to pay our bills, so we can meet our fans at the conventions in person. Nobody works for free.
May 15th, 2016 at 11:39 pm -
Samantha said:
After looking at some items that have overshot normal inflation, they all have one thing in common. They use credit to buy. Housing, medicine, cars, and education. All four require loans, and because of this, they are allowed to be at a much higher price than they actually cost.
If you want the economy to normalize, stop using credit cards for loan.
May 19th, 2016 at 7:45 am -
Samantha said:
”
Regarding ‘median income’, I believe that what you are referring to is actually median household income. In 1975, the typical household in the U.S. had only one wage earner. Today it takes two full-time workers to earn the equivalent gross income of one full-time wage earner in 1975. However, due to the fact that total taxes of all sorts are much higher today than they were in 1975, the net effective purchasing power of a two wage earner household today is much less than it was for a one wage earner household in 1975.
Something has gone terribly wrong over the last 40 years, no?”
Yeah. It’s called the government selling us out. “Equal rights” they promised. But they meant we will treat you equally bad, not that they would raise women up.
May 19th, 2016 at 7:48 am -
Samantha said:
“Again, I’m not saying all is perfect, but when are we going to take responsibility for our actions as well. This is both greed of us and business, and businesses are doing what they’re supposed to do–make money. Otherwise, why would any business be in business.”
A business can make money without screwing over their customers. In fact, they should. In the short run, you can get a high priced product that routinely breaks down, forcing you to get a repair at the shop. But eventually, you stop patronizing that shop if they don’t really fix it. Customer service means doing good, not just passable, business. That means that you are concerned for the customer.
If you are charging $40k for shoddy cars, you should get competition from motorcycles or cheaper alternatives. And if college doesn’t cut it, people should stop sending their kids, and teach them at the library past high school.
And sooner or later, I hope people all figure out how to leech internet for free. $45 for these services is criminal.
May 19th, 2016 at 7:56 am -
Agent76 said:
The Inflation chart you will not see or hear about in our government run media!
Is Inflation the Legacy of the Federal Reserve?
Jan. 17 (Bloomberg) — In today’s “Single Best Chart,” Bloomberg’s Scarlet Fu displays how inflation has increased in the 100 years since the creation of the Federal Reserve. She speaks on Bloomberg Television’s “Bloomberg Surveillance.”
“Inflation is taxation without legislation.” Milton Friedman
May 31st, 2016 at 1:07 pm -
Diane McKee said:
Cell phones, internet and cable are NEW expenses that didn’t exist back then. Insurance costs are so much higher than they were. We have more demands on our cash than ever before, and the middle class bears a disproportinate amount of the tax burden.
August 26th, 2016 at 7:09 pm -
jerry said:
It’s simple. The average family today CAN NOT afford the average new car. The prices are INSANE.
Average car increase since 1975 – 8 fold
College – 10-11 fold
House – 5 fold (luckily in line with family income, but that’s usually TWO people working)Average income increase since 1975 ? 4 fold. Except for a house, not many can afford anything else.
September 15th, 2016 at 1:18 pm -
graham said:
Disagree. No idea where these housing figures come from but here’s reality. In 1975 in Australia, median income across Australia was $7618 while in 2015 it was $72000, an increase of virtually 10xtimes in 40 years. In Sydney Australia in 1975 the median house price was $ 28,000, Melbourne $19800, Perth $18850 etc. In 2015 the median house price in Sydney is $850000, an increase of 32xtimes, Melbourne is $615000 an increase of 30xtimes and Perth is $605000-again an increase of 32 x times. In REAL terms wages have increased 10xtimes and houses have increased by 30x times. Even blind Freddie can work out house prices have tripled compared to wages. Since a wage is what pays a mortgage, not inflation, the GDP, CPI, CIA or FBI, housing prices can ONLY be compared to wages to determine a true historic pricing comparison.
October 5th, 2016 at 6:40 am -
Jay X said:
In reference to the comment about 2009 houses being more fire resistant, that actually isn’t true in practice (despite regulations).
See this video. It shows you have 3:40 in minutues/seconds till something called flashover in a new home. You have 25 or 30 minutes in a “legacy” home, that might be from the 1960s I’m not sure.
Somewhere else is more information on it, but it came down to natural materials (like cotton) don’t instantly burn up like artificial materials (made out of petroleum, etc.).
October 13th, 2016 at 1:49 pm -
Jean-Marie said:
Graham,
Hun, I’m sorry to say this, but your’re not too bright are ya? This is based on American figures, dear, NOT Australia, or any other country. Just the USA!!! Obviously you didn’t’ bother to read the article, you just skimmed it and caught the comparison chart, and then completely jumped into the pool head first, and made a big bungle with your comment! I wish people would read before they comment on things; because I like to see what intelligent people think. But idiots…not so much, as they are the very reason we’re in the mess we’re in right now!!!
October 15th, 2016 at 7:53 am -
John Dean said:
I know this article is over a year old at this point, but I stumbled on it after trying to expand my understanding of something my university textbook glossed over (the book is the World Food Problem, the class is about world hunger. I specifically googled 1975 price index because of the well documented jump (almost doubled) between 1972 and 1974. So while this article is informative, 1975 prices are an outlier to the prices before and after that short period.
December 15th, 2016 at 7:49 am -
Bert said:
I can’t believe some of these comments. You do realize there are base model vehicles? Not every new car comes with backup cameras and heated seats! Try buying a used car for a reasonable price that isn’t rotted out in the northern US. Yes technology has expanded, it expanded throughout the 20th Century, that does not fully account for these costs. And wages should have increased, innovation, skills, and average productivity has increased, why shouldn’t wages? Some are correct in noting that we have a very high standard of living, higher than in the 70’s, but for the time people had very high standard of living in the 50’s, 60’s, 70’s etc. Modern technology has always been made cheaply available to the average consumer. Henry Ford paid his workers enough to buy his cars, now GM sells junk cars for inflated prices and gets the taxpayer to pay for their sins. Today’s economy does not work!
January 24th, 2017 at 8:07 pm -
Megan said:
Hello! I would just like to know who wrote this article. I am currently in the process of writing a research paper and I would like to cite my sources properly
March 3rd, 2017 at 11:18 pm -
Autumn said:
Interesting article, and very interesting opposing views in the comments. I personally am in the real estate industry, and have seen an odd development over the past few years. Items to be considered relative to cost of housing exceed far over the initial price of the home. For example, if you live in an HOA, you are legally obligated to upkeep your home to a certain criteria, meaning added maintenance and labor expenses to do so compared to an unregulated personal home, where maintenance can occur, when funds are allowing. Many years ago, an HOA was a anomaly whereas today it is not uncommon. These types of outlying criteria do not make it onto the full comparison, as there are too many factors to consider. I think there are far more additional costs to take into account in an analysis like this.
An easy example is a cell phone, and the delusion of choice. One may argue it is optional to have a cell phone, and theoretically this is true. However, given the context and cultural and employment structure today, it really isn’t an option to have or not to have, but rather, as someone stated earlier, and option of buying the cheaper phone or the more expensive. Regardless, these small necessities to maintain a job, to maintain cultural inclusivity etc, are numerous in today’s world. Subscriptions, ‘extra’ features, purchasing computer software, paying for services once done by others, and other minutia are too numerous to be accounted for, but also necessary to collect in order to have an accurate study.
June 21st, 2017 at 10:07 am -
Linda said:
My wages dropped in 2009 due to recession,etc by 16000 and has yet to return after 8 years,however, everything else has increased. Rent for an example in 2009 was 600.00 for a 3 bedroom house 1200 SF, today an apartment at 700 or less SF is over 1000 to live in a decent area.
Wages are the same,everything else increased! It is no wonder there are so many under employed and homeless people. The minimum wage would not even pay your rent, much less utilities, insurance and food. In this day, you either must make a huge salary as a single person, regardless of your age or you have to be a roommate to live somewhere other than the ghetto. Im 60, still working because all reserves have been exhausted and not old enough to retire on full SSI and with nothing but rent, car pymt, insurance,utilities, etc, there is very very little left for food and God forbid a social life. I get the cost of living increase over the years but wages are simply not keeping up! Where has this country gone wrong. I was reminiscing the other day and thought i made far less money when I was younger, had a full social life, ate out,went to movies and clubs.and still paid my bills. My life now is work, home, work, home. No money for anything survival.November 25th, 2017 at 9:07 am -
Joe said:
Nice to pick Mar 2014..$100 a barrel oil and $4/gal gas..try about 6 months ago when gas in my area was sitting at 2.20/gal..just look at his 2015 chart and you get the same point.
Also..very few people at the majority of colleges pay “sticker price” which is what the author is assuming by his chart. If you are going to use colleges, you the average net price statistics – the collegeboard publishes those stats.
April 30th, 2018 at 9:43 am -
Charles Wright said:
I agree with the first comment from Ame above. Id like to add:
Chart comparing 1975 to 2015 says average car cost $3.4k, but I think the average price of new car was closer to $5k. Nevertheless, the price of a new car is more when adjusted for inflation but cars last three times as long today. We also have to have more smog equipment now which raised the cost. Cars today have air bags, anti lock breaks, fuel injection, electric windows, electric seats, tilt steering, alloy rims, rear window defrost, alarm system, electric trunk, gps etc. Also I cant find statistics but I think people are buying bigger cars. I dont remeber seeing too many cars that could haul around 7 passengers comfortably.
As far as the house price comparison, average price of houses are more, but the average house is bigger now. Also houses are now better insulated, more efficient cooling system, dual payne windows, and more upgrades. I remember almost all houses having cheap carpet, linoleum and Formica counter tops.
Its true that inflation doesn’t take many points into account but not all is negative.
December 10th, 2018 at 6:49 am -
Dave said:
I’d like to point out a few items most of y’all either miss, or are all too happy to leave out / gloss over:
While we *do* have more choices over amenities & things & general stuff (no one disputes this), it’s rather a sleight of hand illusion given the disposable nature of nearly everything available. Consider this; The arguments that cars are better than they were in decades past (I would argue that they’re not REALLY any better or worse considering the disposable nature of almost every single model in every single class of car on the market today). Back in the 70’s it didn’t cost a month’s salary to replace an A/C compressor, and they didn’t fail every 18 months in the Texas heat. You can’t service a modern car like you could an old one. Any mechanically inclined person knows this. Any mechanic worth his salt WILL tell you that. In fact, your average 1975 car was still quite capably OPERABLE by 1995 which cannot be said about a modern BMW or Volkswagen (do you see *many* 20yr old VW’s like you do old Rangers & Accords & Silverados built before y2k?? No, you don’t. Because they were one of the first to NORMALIZE the disposable Auto niche!)
“Houses are actually less expensive after factoring in amenities, size etc” is absolutely NOT less expensive in any way after considering neay every house in America built after 1975 falls apart nearly twice as fast. No one has bothered to point that out. My parent’s modest $14,000 1,100sq ft house in Houston TX built in 1962 still has its original roof, and nearly all of its original copper plumbing save for the occasional faucet replacement over the years, and things like that. The wiring is original. Most of the electrical receptacles are original from 1962. It survived several tropical storms and a few major hurricanes with almost 0 permanent damage surpassing a few hundred dollars. We had 1 flood in ’94 that breached the door, but the walls survived as did the tile. MY house built in 1991 on the other hand has had just about every part of it replaced or repaired to some degree in its 30yr history (all of my people have this problem, and so do you so don’t lie.. You tell yourself whatever you want, you know the truth! Modern houses are built TERRIBLY). Quadruple the repairs at nearly 8 times the repair bill, where exactly are the savings? Modern day houses at normal prices are total garbage. I’ll buy a house built between 1950 and 1965 so long as it was kept up with before I’d ever buy another newer house. Forget about smart houses. Just another fad thinly disguised as “green”. That covers just houses & cars!
Now let’s talk about choices regarding things like internet providers, cable/sat/airTV and various other “luxuries” one simply cannot exist in today’s world without. I read an argument over not needing cable TV, that one can simply use an antenna. This was quite obviously said by a person who has never tried using an antenna since analog terrestrial TV went offline in ’09; It isn’t just a matter of signal strength, but one of extremely low bandwidth typical of network television. If you don’t know what that means, don’t try defense against something you don’t understand. Generalized, it means you can be a mile from the broadcaster with 100% signal, but the more people tuned into that station, the more it’s cutting in and out due to inadequate bandwidth.. You try watching the news for half an hour uninterrupted by blocks of garbage every 15 seconds when more than 10 people are tuned into the same broadcast! Yes, basic cable TV is a necessity if you don’t have an internet connection to stream local news. Speaking of internet, let’s talk about trying to survive today without it. No, I’m not referring to Netflix.. There is very little you can do without a connection be it cellular or home-based. No job applications, more and more companies require it to do basics like paying your bills etc. It’s not luxury anymore, it’s a 2019 NECESSITY! One that sets you back an average $150 in 2019 money. One we’re now facing ridiculous data caps costing even MORE f*cking money (you didn’t facor that in, did you?)
Show me a white Boomer who truly believes his cost of living is lower today than in 1975 and I’ll show you a liar. I’ll show you a man who has never a dark day in his life EVER spent anywhere close to 100% of his minimum wage just fleshing out the bare minimal essentials. Forget having a family. Forget about a passport, you’ll never afford to use it even once. Forget nutrition, you can’t afford the good stuff. Forget about luxuries like having teeth in your f*cking mouth. Forget about having cancer because it’s a guaranteed death sentence. Forget about lowering your stress because you’re working 3 jobs 20hrs a day just to make ends meet. Forget about luxuries like sleeping once in a while. You might as well accept the fact you’ll never have a college degree so just get used to that shitty low wage your high school diploma nets you, if you were lucky enough to graduate.
Yeah, people trying to argue that the REAL cost of living went down are some privileged people.
I am 52 and on behalf of an entire generation, from me to the millennials, I am sorry we completely wrecked any chance you had at a decent quality of like like we had, before you were even ever born. My heart WELL AND TRULY goes out to yall!
April 28th, 2019 at 4:58 am -
Pat said:
Update to 2018
Graph from 1975 if it will be used as reference point for data.
Break into regions to display greater accuracy.
Include national debt growth.June 9th, 2019 at 6:14 pm -
Rich said:
Overpopulation is the problem. But they created a solution in a lab. And its making 15 an hour more affordble.
January 16th, 2021 at 8:35 pm
