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Even with inflation in 1970. It only took 1 worker
- Thread starter KINGOFSHORTS
- Start date
People used to drink tap water!!!
Today bottled water is worth more than $1.
Today bottled water is worth more than $1.
That's why I said expectations are way too high. The typical worker expects a lavish lifestyle, but unfortunately that is not compatible with their education nor their income.Quote from Sandybestdog: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 canât people afford things? If people work long hours, shouldnât they be able to afford things?
You say many people "can't afford things". I say many people can't afford those things they expect they deserve but that are really way above their level of affordability. Any young family with one working class income can afford rent for a working class neighborhood 20 year old 800 sqft. apartment, a 1995 Honda, gas & insurance and healthcare.
And that's it. What more do they need??? Want a rich and famous lifestyle on a 30k salary? Big lavish vacations? Suites in 5 star hotels instead of a room in an Indian run motel? European sports cars on a lease? Michelin dining every weekend? Sorry, that bubble popped.
If you expect more but can't afford it, then either earn the money for it or load up on debt and go broke, but don't blame the Fed, politicians, "the rich" or anybody else.
What do you define as lavish? Health insurance increasing 15% a year? Ever increasing education costs? Escalating food costs? Weâve already established that towhouses and apartments are all full. That the mcmansions you talk about donât really exist. People all around are driving old cars and working 2 jobs, if they can get them. Yet people like you are insisting on bashing these people for wanting a fraction of what the Man that screws him has. You say nothing of 30% credit card interest rates to bail out Wall Street from their stupid mistakes. You never address the continuous rise in the cost of living due to the Fed. You will never address executives getting millions while laying off workers.Quote from makloda:
That's why I said expectations are way too high. The typical worker expects a lavish lifestyle, but unfortunately that is not compatible with their education nor their income.
You say many people "can't afford things". I say many people can't afford those things they expect they deserve but that are really way above their level of affordability. Any young family with one working class income can afford rent for a working class neighborhood 20 year old 800 sqft. apartment, a 1995 Honda, gas & insurance and healthcare.
And that's it. What more do they need??? Want a rich and famous lifestyle on a 30k salary? Sorry, that bubble popped.
If you expect more but can't afford it, then either earn the money for it or load up on debt and go broke, but don't blame the Fed, politicians, "the rich" or anybody else. It's up to you and nobody else.
Telling people to simply work harder will never accomplish anything. We have to focus on the problem that caused this in the first place. Ignoring it because you think people should live scaled down lives so that most of the rich and corporations can rape and pillage the economy, wonât accomplish anything. Again, are you going to go to the grocery store and talk to some people on how theyâre doing? You obviously have not talked to anybody in the real world in a long time. Your simplistic philosophyâs on paper of how people should live, is already a reality for most.
cable TV, interenet connection, cell phone plans, computers/laptops/software, videocams, kid's various summer camps, etc.
there is a lot of things we take for granted now that have changed.
Then, you worked 20-30 years for a company and got a nice pension. Now, you work 6 5 year stints and need to fund your own IRA.
there is a lot of things we take for granted now that have changed.
Then, you worked 20-30 years for a company and got a nice pension. Now, you work 6 5 year stints and need to fund your own IRA.
I guess I'm just lucky to live in a 6 figure household 3 years out of college. Guess it's time to pay my fair share, ignoring the 200k it took to be marketable as a couple.
We're more productive, and I would point to college tuition inflation as well as healthcare inflation for this answer. Pensions and health care were a given in any (college degree required) job in the 70's.
My parents said their tuition to the University of Illinois only took 1 summer between each year to pay for, and was valued more highly.
Boomers are just lucky that they had a chance to get a shot, now that only goes to people with "experience." No millenial my age will ever get their shot, because they will never have experience. This is, in my opinion, a bigger factor.
We're more productive, and I would point to college tuition inflation as well as healthcare inflation for this answer. Pensions and health care were a given in any (college degree required) job in the 70's.
My parents said their tuition to the University of Illinois only took 1 summer between each year to pay for, and was valued more highly.
Boomers are just lucky that they had a chance to get a shot, now that only goes to people with "experience." No millenial my age will ever get their shot, because they will never have experience. This is, in my opinion, a bigger factor.
Good. Then what's so bad about the way people currently live as you say? There is no reason to complain at all for today's middle class. Let them live in modest homes, let them drive old cars. They have it just as good or bad as the 70s' middle class had it.Quote from Sandybestdog:
People all around are driving old cars and working 2 jobs, if they can get them.
[...]
Your simplistic philosophyâs on paper of how people should live, is already a reality for most.
You think the 70s was a working class paradise? Big homes, 2 cars, big vacations, new clothes every month like on MTV Cribs? Of course not. Then why do working class people expect that today?
Life is what you make of it.
True
We are poorer now because we dont own anything. The bank does. All we do is work to pay at interest the things we need/want in life. But having more stuff than 1970 does not mean we are better off. It just means we are full of debt.
Even you pay off your mortagage you are force to pay taxes on something that is "yours"
A car wont last long to be an asset.
WE DONT OWN ANYTHING!!!!!!!!!!!!!!!!!!
We are poorer now because we dont own anything. The bank does. All we do is work to pay at interest the things we need/want in life. But having more stuff than 1970 does not mean we are better off. It just means we are full of debt.
Even you pay off your mortagage you are force to pay taxes on something that is "yours"
A car wont last long to be an asset.
WE DONT OWN ANYTHING!!!!!!!!!!!!!!!!!!
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.
Cable TV, I had to get the DVR and the High Def package.
Internet, I got the bundle but my old service had a 60 day cancellation notice! Plus I have a cell card for backup!
Cell phone, I had to get the data package. My wife too!
Nexflix, I watch movies 3 times a month and still subscribe.
And don't forget about local taxes, ever look at all the local taxes on your bills? It is never ending.
Internet, I got the bundle but my old service had a 60 day cancellation notice! Plus I have a cell card for backup!
Cell phone, I had to get the data package. My wife too!
Nexflix, I watch movies 3 times a month and still subscribe.
And don't forget about local taxes, ever look at all the local taxes on your bills? It is never ending.
Quote from makloda:
Good. Then what's so bad about the way people currently live as you say? There is no reason to complain at all for today's middle class. Let them live in modest homes, let them drive old cars. They have it just as good or bad as the 70s' middle class had it.
You think the 70s was a working class paradise? Big homes, 2 cars, big vacations, new clothes every month like on MTV Cribs? Of course not. Then why do working class people expect that today?
Life is what you make of it.
Do you get out of the house or do you just watch MTV all day long?
You have a good point with the Bling Bling culture attitude, but applying it as a broad statement to all of USA simply shows your ignorance. I do think it affects the early 20s & under crowd a lot more than the rest of the population, but contrary to your belief, most of the people are frugal.
Basic cost of living has gone up significantly while wages have barely risen. On top of it, there are less jobs and they have higher requirements which translates into education costs which have also gone up significantly.
US wages peaked in 1970s, btw.