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Location: By the sea, by the sea, by the beautiful sea
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Quote:
Originally Posted by jtur88
I think '68 was the last year that you could buy a new US car for under $2,000 (Ford Fairlane). In 1940, there was no car made in America that cost over $2,000. Movie stars were driving cars that cost under $2K. I saw a video clip of Kirk Douglas at a drive-in in his Buick convertible.
Inflation skews our perception of all things related to money. 1968 is an especially chilling choice, because that's just before the huge ascendency of inflation, yet is recent enough to remain within living-memory for a substantial number of people.
1968 was the year I rented my first apartment. It was a 1 bedroom $75 per month, including electricity, gas and garbage pickup. Gasoline was $0.25/gallon. Car insurance was $75/year. Health insurance was $10/month. That summer I worked full time for $3.85/hr. One week's work covered all my monthly living expenses, including gasoline, insurance, food and rent. The other three weeks income was free and clear. I remember taking my car ('62 Comet) to a brake shop for new brakes. It cost me $35.
They have cooked the books on inflation until the CPI makes no sense at all. You would need at least 10x the income to have the same standard of living I enjoyed in 1968.
I was just reading a Hot Rod magazine the other night from 1967 and they tested a brand new Corvette, 427 tripower and the price was $ 5100. and change. Today that car would be 6 figures. But by comparison, that was expensive back then because I paid $ 3800 for a tripower GTO in 66 and my Wife bought a new 68 Mustang 289 for $ 2800 in 68.
1968 was the year I rented my first apartment. It was a 1 bedroom $75 per month, including electricity, gas and garbage pickup. Gasoline was $0.25/gallon. Car insurance was $75/year. Health insurance was $10/month. That summer I worked full time for $3.85/hr. One week's work covered all my monthly living expenses, including gasoline, insurance, food and rent. The other three weeks income was free and clear. I remember taking my car ('62 Comet) to a brake shop for new brakes. It cost me $35.
They have cooked the books on inflation until the CPI makes no sense at all. You would need at least 10x the income to have the same standard of living I enjoyed in 1968.
To achieve this sort of living standard now one would have to move overseas. Here in the US you need dual earners working ridiculous hours and kids raised by strangers to afford a lifestyle that's still worse.
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