OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

Ororeef @ 12:16 re Helicopter Money not Needed

Posted by Mr.Copper @ 18:43 on May 4, 2016  

re “but a 50 % increase in SOC SEC payments would do the trick”

Comment:
I have one BETTER. Because older people already have everything they need or want. They don’t spend in late life. They are SELLERS of cars houses clutter etc, because they are running out of time.

It’s the YOUNG people, fresh out of high school that have NOTHING, and need EVERYTHING. And they LOVE to spend and enjoy the THINGS they want and need, if only they had money to spend.

When I and all my friends came out of high school, in 1962, minimum wage was so HIGH, that we were all buying new cars and houses. I had a new 63 Pontiac LeMans. Five of us all hade the same “cousin Vinnie” car, 265 Hp V-8, stick shift, posi axel, under 3,000 lbs. etc different colors.

Others had bought other muscle cars (three year loans) like GTOs, Corvettes, Firebirds, Camaros, 442s etc. Moving out of parents home and getting an apartment, ($125/mo) and a new car ($2800) was no big deal. Some young couples actually bought new or used houses. $8,000 to $17,990 new. 20% down was required. People had savings accounts.

The reason for all the prosperity? The USA produced all its own needs and consumer products. No imports. Shortage of labor. Plenty of over time too. Minimum wage was $1.25/hr, times a factor of 20 for inflation, we were getting $25/hr. in todays money.

After a few years acquiring experience and skill, $2.50/hr. was common. $50/hr. in todays money. With Minimum wage at $8/hr. todays money? That would come out to .40 cents per hour back in the day when it was $1.25/hr.

Because of understated CPIs, the real adjusted minimum wage has been devalued by two thirds over 54 years. Soc Security checks today are also 1/2 to 2/3 what they should be.

Bottom line.
#1 Under stating inflation rates for 50 years by the Dept of labor NO GOOD.
#2 Imports of consumer products no Good.

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.