MacN'Cheezus@lemmy.today to Lemmy Shitpost@lemmy.worldEnglish · edit-25 months agoThe Art of the Deallemmy.todayimagemessage-square60fedilinkarrow-up1617arrow-down128
arrow-up1589arrow-down1imageThe Art of the Deallemmy.todayMacN'Cheezus@lemmy.today to Lemmy Shitpost@lemmy.worldEnglish · edit-25 months agomessage-square60fedilink
minus-squareshalafi@lemmy.worldlinkfedilinkEnglisharrow-up23arrow-down1·5 months ago$3,000 was $7,209 in 2024 money (from 1990). $21/hr. would be $50 in 2024 money.
minus-squareDagwood222linkfedilinkarrow-up22arrow-down2·5 months agoStop looking at those ‘inflation adjustors’ and look at what you could actually buy. Average rent per month in Los Angeles in 1990 was under $600.00/month Today it’s over $2,000.00 If he paid her five months rent today, it would be $10,000.00, not $7,000.00
minus-squareWilzax@lemmy.worldlinkfedilinkarrow-up8arrow-down1·5 months agoInflation has affected our country very differently in different locales. Change in cost of living is the real metric for what inflation is trying to quantify
minus-squareDagwood222linkfedilinkarrow-up6arrow-down1·5 months agoThat’s why I stick with real world examples. For example, the minimum wage in 1960 was $1.00/hour. The cost of the average home was $11,000.00
$3,000 was $7,209 in 2024 money (from 1990). $21/hr. would be $50 in 2024 money.
Stop looking at those ‘inflation adjustors’ and look at what you could actually buy.
Average rent per month in Los Angeles in 1990 was under $600.00/month
Today it’s over $2,000.00
If he paid her five months rent today, it would be $10,000.00, not $7,000.00
Inflation has affected our country very differently in different locales. Change in cost of living is the real metric for what inflation is trying to quantify
That’s why I stick with real world examples.
For example, the minimum wage in 1960 was $1.00/hour. The cost of the average home was $11,000.00