Loading ...My observation, during this transition going on after 2008, things that were under priced should go up, and things over priced should come down. Most things cost 20 times more from the 1970 to 1975 era. If you can remember the price of a dozen eggs, just multiply X 20 to get todays normal od S/B price. To see what is above or below the curve.
I remember .25 cent gasoline so $5/gal today is equal. Also .15 cents for a slice of Pizza S/B $3/slice today. The old $40,000 house in my area s/b $800,000 but most are $400-$600k behind the curve. New cars were $2500 x 20 $50,000 is normal. Non union wages are below normal for todays expenses. The US Gov’t should act as union rep for non union citizens. (and domestic businesses) The more they can paid or profit the more tax they pay and avoid welfare.
Probably because wages are behind the curve. The old $2/hr s/b $40/hr today. So low wages in general are hold some things back. Their media is starting to acknowledge wages are too low, and having trouble finding people willing to work cheap and make the boss rich.
I clearly remember their media back in the ’70s saying the United Auto Workers make too much money? and are running the country. Thats when I knew they were greasing up the stupid Americans to buy imports. Because foreign nations want our money. Now China is LOADED out the wazzoo, with our money and getting people nervous. Our gov’t has been sub servient but I suspect the things are in reverse for the USA. Rough growth pains tho.