2 drinks for 40 cents?

@thatguyoverthere

In 1950, my dad earned about $50-100 (not sure exchange rate at the time) per month and considered middle-class.

So translated; 40 cents was ~0.5% of a month's salary. Today a monthly salary is ~$3000, so 2 drinks are ~$15. Around here, that is about right, ~$9-15 each depending on place.

@niclas hmm... So your saying that modern money is worthless

@thatguyoverthere

If that were true he wouldnt be able to buy anything eith it. The fact that the value changes over long periods of time is not the same as saying its worthless..

@niclas

@freemo @niclas nearly worthless then. The value hasn't just changed. It has been syphoned off.

@thatguyoverthere @niclas @freemo if the item is the same percentage of income then by definition the "worth" hasn't changed in that particular context, no?

of course there's more to the economy than buying drinks, and even if _all_ CPI metrics across the _entire_ remained absolutely identical inflation would still constitute a tax on savings, but neither of those would make the currency worthless

@roboneko @niclas @freemo it was a shitpost.

Yes in this example it would seem the worth hasn't much changed, but we all know it has in reality.

Also our currency is nearly worthless. Leaving off the nearly part was just to make a joke.

@thatguyoverthere

Its not "nearly worthless" either... In fact its worth is quite high, you can literally buy **anything** with it thatis for sale.

@niclas @roboneko

@freemo @thatguyoverthere @niclas I want to know what he's been trying to buy that he would consider it worthless ...

@roboneko @niclas @freemo > The dollar had an average inflation rate of 2.80% per year between 1919 and today, producing a cumulative price increase of 1,674.86%.

anything. Look at rents and property values.

@thatguyoverthere

And? That has nothing to do with how much its worth today unless you relate it to wage and buying power today... What does someone from 1910 have to do with the value of paper bills today?

Keep in mind we do not sit on money we invest it, so anyone from 1910 **gained** value from that inflation didnt loose it.

@niclas @roboneko

@freemo @niclas @roboneko
> A dollar today only buys 5.634% of what it could buy back then.

@freemo @niclas @roboneko