StateofConfusion

Dollar's Purchasing Power Annihilated - The Chart They Don't Want You to See

Well, I won't argue with the flact that inflation has occurred but I will take issue that this is as bad as it seems. In the early 60's the minimum wage was $1.25/ hr., now it is about $7.00 to $8.00 depending on what state you live in. That is an increase of at least 560%. Goods are available now that could not even be dreamed of in 1960's. The richest person in the world cound not get a cell phone or HDTV, MP3 player or internet. When you all go off the deep end about the ruin of the dollar, I would like to see you live in the 1950's and 60's (I did). No video games, no wireless, no home computers. You would soon ask to come back and live with the debased dollar.

The finance industry has caused a massive problem due ot unregulated greed but am I unhappy that the price of houses has come down, no. Too many people spent money with wild abandon without earning it. Finally, those who lament the need of 2 income families need to admit that most are living with a bigger house and more cars than they would in 1960. Give up all the extras and live on one income. Those that will be hurt are the ones on fixed incomes but most shouldn't complain too much.