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That's an index fund NOT the "value of the US dollar".
It's the US Dollar index, which is a measure of the US dollar against a basket of other currencies. That is, against a basket of other currencies, the US dollar has appreciated over the past 2-1/2 years.
Is this intended as humor?.
Our military forcing other countries to trade in greenbacks has zero to do with the value of said dollar.
The dollar remains the best smelling turd in bowl of fiat currency.
The reason a certain portion of our nation has been losing monetary value, is a direct result of wages not keeping up with inflation.
The military is not forcing anyone to trade in greenbacks. After all, some other currencies are used in trade as well. Rather, the US dollar is the preferred trading currency because it is among the world's most stable, and is widely available.
The bottom line is that Biden, like most national politicians, do not care at all about the middle class. I am not even going to add "in my opinion" to that.
When was the last year that the percentage of discretionary income went up for most U.S. households? (Discretionary meaning income after groceries, utility bills, tax deductions, car gas, minimum payments on credit cards and loans, and other regular monthly bills such as insurance premiums.)
Serious question, does anyone know?
I did find the following article, https://www.pewresearch.org/short-re...d-for-decades/ that states (my italics), quote: "In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today. [end quote] So if nothing has changed, that means that it has been 50 years since the average American has had a "real" raise.
However, increased earnings do not necessarily mean more discretionary income, so if anyone can provide any statistics to answer my question above, I'd appreciate it.
I don’t have exact figures, though I’m sure someone has compiled them. But the bottom line is that the percentage of income required to meet basic living needs, such as housing, transportation, energy and food are taking a much larger percentage of household income, irrespective of the exact dollar figures. So, it stands to reason that mathematically, the amount of discretionary income has gone down year over year, even if the dollar amount has seen an increase.
As an example, let’s say you made $5,000/m in 2010. Your expenses were $3500. That leaves $1500 in discretionary funds. Your trip to Florida for vacation cost you $1,000. You have $500 left.
In 2020, your income has increased to $7000, but your expenses also increased to $5,200. You now have $1800 in discretionary funds. That appears to be an increase, but when you take your vacation to Florida, this trip now cost you $1,500, so now you have $300 left over, instead of $500.
I’ve commented several times of my experience as a teenaged adult in the 70’s, and how my regular job afforded me enough money to have my own apartment, a brand new car, plenty of money for entertainment, including weekend trips to the beach, and a few bucks left over to stash away in a savings account.
How many 19 rear olds do you think can say that today? Probably none.
I made $6/hr which was good money back then (30/hr in todays adjust for inflation dollars) My rent, utilities totaled $250 ($1250 now) and my brand new Trans Am was $195/m (975 now), but on a 36 month loan. My pay was around $900/m take home, minus apartment and car, left me $495/m in discretionary money, or $115 extra per week. That doesn’t sound like much money today, but back then it was a fortune.
A ticket to a rock concert was around $3 ….. a beer, $.75 so I could take my girlfriend to a concert, we could have a few beers, and it would cost me about $12. (In the car there was usually a $5 bottle of Jack Daniels to be found!). Movies? $1.50. Baseball game? $2 for the bleachers, $3.50 for the super seats. Or just a trip out for Pizza and a pitcher of beer, maybe $7-$8. A weekend at the beach? $20/night, right on the boardwalk, $10-$12 off the beaten path. I could have a top shelf weekend at the beach for less than $100. I did that twice a month in the summer. I could have done that every weekend, if I wanted to, but it was a lot of driving, and too much …. every other week, or every two weeks worked better.
Needless to say, it was so much easier financially, because your dollar went much further. From 1977 to 2023, it’s a $1=$5 difference. A ticket to a Redskin game was $10. $15 for premium box seats. Today, that’s $100, and $9 for a beer. That’s 10 times more expensive, so my $6/hr job would need to be $60/hr, just to be even, according to NFL standards! Everything else was cheaper too … a cocktail at a bar was $1, or $5 in todays money, but now, a drink at a bar will likely cost you $10+. And forget the beach … just forget it. A boardwalk ocean front room is likely to cost $200/n or more, which is 10 times the cost back in 77. A break even cost should be $95-$100.
Yep, just checked … Ocean City Comfort Inn boardwalk is $160-$175, before they add on all of the taxes and fees that will wind up over $200.
So, I suspect most people have seen a significant decline in available discretionary money, to go with a much higher cost for those things you might choose to spend that money on, which is a net/net loss.
Last edited by GuyNTexas; 07-06-2023 at 03:50 PM..
You are talking about a different thing. All currencies have lost value due to infltion. Heck, you could buy a house for $5000 back in the day.
Comparing USD to other currencies, it has fared well.
the trade value...is way different, than the buying value
just because the dollar it trading on par with the euro...doesnt mean that the dollar, or 100 dollars buys the same thing it did 2 or 3 years ago...this affects millions that are on fixed incomes or retired...
going to the grocery store and spending 100 back in 2019....today its a 200 dollar trip....yet wages (including government pensions) have NOT gone up even close to it
people...all people, (even the rich) are spending more but getting less....that is bidenomics
The bottom line is that Biden, like most national politicians, do not care at all about the middle class. I am not even going to add "in my opinion" to that.
When was the last year that the percentage of discretionary income went up for most U.S. households? (Discretionary meaning income after groceries, utility bills, tax deductions, car gas, minimum payments on credit cards and loans, and other regular monthly bills such as insurance premiums.)
Serious question, does anyone know?
I did find the following article, https://www.pewresearch.org/short-re...d-for-decades/ that states (my italics), quote: "In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today. [end quote] So if nothing has changed, that means that it has been 50 years since the average American has had a "real" raise.
However, increased earnings do not necessarily mean more discretionary income, so if anyone can provide any statistics to answer my question above, I'd appreciate it.
Housing. That 5.8x "increase" in pay has come with homes that are 30 times more expensive in the same time period.
Is this intended as humor?.
Our military forcing other countries to trade in greenbacks has zero to do with the value of said dollar.
The dollar remains the best smelling turd in bowl of fiat currency.
The reason a certain portion of our nation has been losing monetary value, is a direct result of wages not keeping up with inflation.
I didn't know this had turned into a creative fiction thread.
We need Trump back to recover what Biden has cost.
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