Even with inflation in 1970. It only took 1 worker

[forextrades]

Quote from makloda:

Workers today -- or should I say up until recently -- expected they have a God given right to live like the rich and famous on TV. And that expectation is based on their 30k annual salaries paired with debt. 9 out of 10 taxi drivers, bank clerks and hospital nurses think they can live in a 4500 sqft house, drive 3 cars, go on 4 vacations a year and send the kids to private schools.

"30k millionaires".

The standard of living of a working class family in the 70s is easily achievable by a working class family today:

A simple rented 800-1000 sqft apartment for a family of 3-4, one used 1995 Honda, no Gucci and Louis Vuitton for the wife, no nanny, no cleaning lady, no vacation, no private school.

Not true.

Plenty of things are still way overpriced. Housing in big cities (Chicago, Los Angeles, New York) is still ridiculous. And most people who make $30k/year DON'T live way above their means. It's the few who don't save that fuck everything up for everyone.

It used to be that a guy coming out of HS can get a job at a living wage. Not true anymore. People coming out of college now are making $10/hr if they can actually find a job that wasn't given to an H-1B instead.

It will only get worse in the future.

 

[KINGOFSHORTS]

And on another note what is the average debtload a college student graduates with (books,tuition) I hear 50K average.

So they start out with 50K in debt, the job only wants to start them out at 28-30K and the homes start at 300K

Somehow wages did not grow but basic cost of living did even though this globalization was supposed to make things less expensive.

 

[Illum]

Quote from Sam Mcgee:

In 1970 we had one car, one television with only an antenna, one telephone, no air conditioning, ate out 3 times a year, vacation was to our aunt and uncle for a couple of weeks, no prepared foods etc. Everyone else lived like that too and we were all content with it. I'm sure you could still live like that now and better on a single salary.

A good argument, however, I would argue health insurance is beyond a middle class one worker home. As are education costs and the cost of living in safe community with good schools. These costs overwhelm a middle class one worker household.

 

[stock_trad3r]

Quote from KINGOFSHORTS:

At the household. Wife stays home, they own a home, college is cheap etc..

So If it only took 1 worker to earn enough to support wife, two kids,mortgage,TV set,car,10% savings in the bank a year.

What exactly happened in the last 39 years?

Taxes were also higher as well in 1970.

but the dow was much lower and the economy was a lot smaller. Standard of living was much lower, too. People only had one 15' TV, no computer, no facebook, no google, no ipods, and maybe one or two cars.

 

[antitrust]

Quote from stock_trad3r:

but the dow was much lower and the economy was a lot smaller. Standard of living was much lower, too. People only had one 15' TV, no computer, no facebook, no google, no ipods, and maybe one or two cars.

I don't think technological items and martial things are an accurate way of determine stranded of living.

 

[forextrades]

Quote from antitrust:

I don't think technological items and martial things are an accurate way of determine stranded of living.

True.

But in stock_turd3r's feeble little mind it is. Never mind the fact that you can barely afford to live in a safe neighborhood, or you can only afford Mickey D's because healthier food is too expensive. As long as I got my iPod, everything is peachy keen.

 

[Sandybestdog]

Quote from makloda:
Workers today -- or should I say up until recently -- expected they have a God given right to live like the rich and famous on TV. And that expectation is based on their 30k annual salaries paired with debt. 9 out of 10 taxi drivers, bank clerks and hospital nurses think they can live in a 4500 sqft house, drive 3 cars, go on 4 vacations a year and send the kids to private schools.

"30k millionaires".

The standard of living of a working class family in the 70s is easily achievable by a working class family today:

A simple rented 800-1000 sqft apartment for a family of 3-4, one used 1995 Honda, no Gucci and Louis Vuitton for the wife, no nanny, no cleaning lady, no vacation, no private school.

You’re so full of crap it’s not even funny. You hear one story of this on Fox News (I know that’s probably what you watch) and think that everybody’s like that. Pull your head out of your ass and take a look around you. I don’t see mcmansions everywhere, I see townhouses and apartements galore. And you know what? People are living in them! Only one family I know lives in a greater than 4500 sf house, and they have about 10 people living there. We all drive old cars. I don’t know one person who owns a new car. I haven’t been on vacation in a year and a half. I was supposed to go last Summer, but I lost my job the week before and had to cancel it to look for another one.

You spit in the face of every hard working person out there that try’s to play by the rules. We were all told that if you work hard and play by the rules, in America, you could achieve anything. Does anybody really think that’s the case today? People like you bash on the poor all day and try to strip then of what little they have, meanwhile the rich get bailouts, executives still get millions in bonuses while they are laying off workers by the thousands.

You want to know why one parent working households are almost non existent now? 30 years ago the average ceo made something like 30 times the average worker, now it is over 400 times. Corporations are ruling the world now. Corporate profits have taken precedence over protecting workers. Combine that with the Fed’s policy of massive inflation, and you have what we have today. The rich are protected and profit from inflation. The little guy pays for it all through higher prices, and of course, wages never keep up with inflation.

If anything of what you say is true, then expain one thing to me. Look up that stats, Americans work some of the highest amount of hours every year than any country. So why can’t people afford things? If people work long hours, shouldn’t they be able to afford things?

So I have a suggestion for you. Today, instead of listening to Sean Hannity, why don’t you go down to the local mall or grocery store and talk to the people there. I think you’ll be very dissapointed. I doubt you’ll find any Louis Vuitton or people with nanny’s. Ask the cashier how they’re getting by. Ask them how they’re paying for college or trying to find a better job. I think you’ll be surprised. But you won’t do this. You’ll ignore the little guy and then wonder why they vote for Obama.

 

[Sandybestdog]

Quote from forextrades:Not true.

Plenty of things are still way overpriced. Housing in big cities (Chicago, Los Angeles, New York) is still ridiculous. And most people who make $30k/year DON'T live way above their means. It's the few who don't save that fuck everything up for everyone.

It used to be that a guy coming out of HS can get a job at a living wage. Not true anymore. People coming out of college now are making $10/hr if they can actually find a job that wasn't given to an H-1B instead.

It will only get worse in the future.

This is true. I have experienced this first hand. In high school I worked at a grocery store and got $9.50 an hour. Now, I am struggling to find a job that just pays $10. Right now I would take $10 and 40 hours just so I can get back on my feet. The job market is getting so tight.

 

[Random.Capital]

Quote from makloda:

Workers today -- or should I say up until recently -- expected they have a God given right to live like the rich and famous on TV.

And hence the famous quote...

What's great about this country is that America started the tradition where the richest consumers buy essentially the same things as the poorest.

 

[KINGOFSHORTS]

I think the spark that began some of our troubles was entering the Vietnam war.