A New Record!

Discussion in 'General Discussion' started by RandyForRubio, Oct 1, 2018.

  1. idestroyedthetoilet

    idestroyedthetoilet Well-Known Member

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    Salaries match inflation. That's pretty much a guarantee of the math. The questions come around quintiles and so forth. Also, our inflation measurement does a very terrible job of calculating and capturing any remotely close picture of standard of living delta. Basically what I mean by that is wages are measured as stagnant in real terms yet standard of living has skyrocketed. Look at the math behind the stagnant wages myth and you'll see that it's impossible for wages not to stagnate in the context of our current measurement of inflation, yet living standards dont. And if you want to break that out into class warfare, well, take the entire income rise of the rich and divvy it up among the rest. Now we all get a few hundred bucks a year more. That's stagnant all the same, especially after adding in the inflation it would produce.
     
  2. idestroyedthetoilet

    idestroyedthetoilet Well-Known Member

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    Long run average was roughly 4%/yr last I calculated it about 10 years ago. It should be slightly lower now since inflation has trended down since the Reagan reset, but I still use 50% every 10 years as an easy rule of thumb.
     
  3. fishonjazz

    fishonjazz Well-Known Member Contributor 2018 Award Winner

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    Agree to disagree



    Sent from my iPad using JazzFanz mobile app
     
  4. idestroyedthetoilet

    idestroyedthetoilet Well-Known Member

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    No surprised.
     
  5. gandalfe

    gandalfe Well-Known Member

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    My Dad bought the house I grew up in in 1972 for less than $10,000. When he sold it in the early 90s he got almost $200,000.
     
  6. ONE LOVE

    ONE LOVE #Baby_Talk Staff Member

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    But no kids? What kind of life is that?
     
  7. Wes Mantooth

    Wes Mantooth Well-Known Member

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    Yep. Ours was built and sold in 1973 for $29,000 iirc. It’s now about $600,000.
     
  8. Stoked

    Stoked Well-Known Member Contributor 2018 Award Winner

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    One with out dirty diapers, sippy cups, car seats and being thrown up on.

    One full of sleep and adult conversation.

    It’s a life I’m glad I don’t have.
     
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  9. ONE LOVE

    ONE LOVE #Baby_Talk Staff Member

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    I was being semi sarcastic I guess, I'm 36, still not married and still undecided....
     
  10. Stoked

    Stoked Well-Known Member Contributor 2018 Award Winner

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    upload_2018-10-7_21-21-44.jpeg
     
    Jazzta, Rubashov and ONE LOVE like this.
  11. LogGrad98

    LogGrad98 Well-Known Member Contributor

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    It's OK, we live in a gender-fluid world. No judgment here whatever your decision.
     
  12. Jazzta

    Jazzta Well-Known Member

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    We're paying too much for food, healthcare and insurance (car and home) here, I know that much.
     
  13. bigb

    bigb Free at last!!! Contributor

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    I actually don’t have too much complaint with my car and homeowners insurance. Health insurance is ridiculous.
     
  14. RandyForRubio

    RandyForRubio Well-Known Member

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    Food?! Food is ridiculously cheap. Car and Home is cheap, healthcare is crazy expensive.
     
  15. RandyForRubio

    RandyForRubio Well-Known Member

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    And yes, wages have been stagnant or regressed while housing has increased.

    So what else has changed (with regards to inflation).

    Food is cheaper.
    Benefits are higher (this includes 401k, healthcare, childcare, PTO, etc).

    It’s hard to categorize non-wage benefits, but Human Progress has estimated that it could be as much as 30-40% of our current wages. So that’s significant.

    If you compare the average products purchased in the 70’s to now, they are cheaper. For example, the time cost of a typical fridge fell by 50% while using 33% of the electricity. So that’s a savings in two ways.

    It’s not all bad. It’s not all great. We’re still capable of living a damn great life. So stop complaining you miserable misers.
     
  16. JazzGal

    JazzGal Well-Known Member Contributor

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    Are you sure benefits are higher? Maybe higher than they were back generations ago, but almost every company I am aware of has reduced benefits in some ways.
     
  17. RandyForRubio

    RandyForRubio Well-Known Member

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    Higher than they were in the 70’s? Yes, I’m quite positive.
     
  18. Alfalfa

    Alfalfa New Member

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    Housing has gotten too expensive, and a lot more residences need to be built. It's becoming almost as bad as Europe.
     
  19. idestroyedthetoilet

    idestroyedthetoilet Well-Known Member

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    Another common myth. We have plenty of data on this. Read Robert Shiller, or just read the wiki on him.

    Same home sales have fluctuated in an affordability range. Besides, if this asset price has indeed outpaced other [non-asset] things then it's because we can afford the higher prices. That would point to the opposite of the complaints about affordability, logically.

    Also, while benefits have increased so has the effectiveness of healthcare (tremendously), giving another double benefit like your refrigerator example. We can't compare straight cost to cost here. The complaint should be that it has gotten so good that it's hard to afford. Sign me up for that world please.
     
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  20. Stoked

    Stoked Well-Known Member Contributor 2018 Award Winner

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    Well Social Security is gonna go up 2.8%.

    Close enough lol
     

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