The dollar has lost ~17% of its value in the past 4 years and ~95% of its value since 1924, so par for the course of the orange man wants to keep going.
The past 4 years involved the pandemic. How is that a gauge for anything?
And how much were people paid on average in 1924?
$2,196, or $40,110 accounting for inflation. Today the Average American makes $59,384 or $3,251.24 in 1924. A house cost 3.6 times anual income($7,720), a house today costs 5.96-7 times anual income($354-179-417,700). The cost of food is 3202% higher in 2024 vs 1924.
Keep in mind that the in 1920s only about 1% of homes had indoor plumbing and electric. If they had an indoor bathroom, there was usually only one on the ground floor with no hot water heater. They did not have heat or air conditioning systems. They were warmed by fireplaces and cooled by opening windows. They also had single pane windows and far less insulation. There were no indoor washers and dryers nor refrigerators included. It makes perfect sense that it costs less for far fewer features.
There is a similar quality difference in the food. A lot of it was canned or preserved. Most of it was produced locally, so many foods were only reasonably available. The only strawberries you were eating in January were the ones you jellied and jarred yourself. On average 44 hours a week were spent on food preparation and cleanup. We pay extra for convenience, quality, and availability.
This is wrong. By looking at a single datapoint of total printed dollars, you're measuring USD's value relative to older USD only. This would only make sense if the value for things you would trade USD for are static. Relative to other reserve currencies, assets, goods, services, USD is significantly more valuable today than it was 4 years ago. Not to mention the proportion of printed dollars no longer circulating.
Exactly. Which is why people who want to maintain their wealth by homes and stocks and gold, etc. Because the dollar is purposely losing value. And that's a dumb thing to save in. But most people do not understand this.
The dollar has lost ~17% of its value in the past 4 years and ~95% of its value since 1924, so par for the course of the orange man wants to keep going.
The past 4 years involved the pandemic. How is that a gauge for anything?
And how much were people paid on average in 1924?
$2,196, or $40,110 accounting for inflation. Today the Average American makes $59,384 or $3,251.24 in 1924. A house cost 3.6 times anual income($7,720), a house today costs 5.96-7 times anual income($354-179-417,700). The cost of food is 3202% higher in 2024 vs 1924.
Keep in mind that the in 1920s only about 1% of homes had indoor plumbing and electric. If they had an indoor bathroom, there was usually only one on the ground floor with no hot water heater. They did not have heat or air conditioning systems. They were warmed by fireplaces and cooled by opening windows. They also had single pane windows and far less insulation. There were no indoor washers and dryers nor refrigerators included. It makes perfect sense that it costs less for far fewer features.
There is a similar quality difference in the food. A lot of it was canned or preserved. Most of it was produced locally, so many foods were only reasonably available. The only strawberries you were eating in January were the ones you jellied and jarred yourself. On average 44 hours a week were spent on food preparation and cleanup. We pay extra for convenience, quality, and availability.
This is wrong. By looking at a single datapoint of total printed dollars, you're measuring USD's value relative to older USD only. This would only make sense if the value for things you would trade USD for are static. Relative to other reserve currencies, assets, goods, services, USD is significantly more valuable today than it was 4 years ago. Not to mention the proportion of printed dollars no longer circulating.
Exactly. Which is why people who want to maintain their wealth by homes and stocks and gold, etc. Because the dollar is purposely losing value. And that's a dumb thing to save in. But most people do not understand this.