“...if current trends continue, the average blue-collar annual wage in this country will be $568,000. Think what this inflated world of the future will mean — most Americans will be millionaires. Everyone will feel like a bigshot.
“Wouldn’t you like to own a $4,000 suit, and smoke a $75 cigar, drive a $600,000 car? I know I would!”
“this helps the cause for $15/hr minimum wage”
“Wouldn’t you like to own a $4,000 suit, and smoke a $75 cigar, drive a $600,000 car? I know I would!”
—
It’s not the far off. Even now, the current average new car price paid is now over $40,000! Back in the 70’s, $40K would get you a pretty nice house.
https://www.cnet.com/roadshow/news/average-new-car-price-2020/
Price inflation is not going to match wage increases.
Wages are going to be depressed. Expect more immigration