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To: BwanaNdege
According to the BLS Inflation Calculator, $25 in 1960 dollars equals $193.74 in 2012 dollars. Ain’t the Federal Reserve a grand invention . . . ? US dollar lost over 95 percent of its value since its creation.
24 posted on 05/07/2012 11:09:42 PM PDT by Olog-hai
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To: Olog-hai

IOW, why bother “saving” money? Investing with a decent rate of growth is the only way to stay even, let alone get ahead.

On a side note, I compared the price of the cars I was drooling over in college in 1965 with the equivalent in today’s $$.

911 Porsche - $6995 Today’s Dollars $50,939
289 Cobra - $4995 Today’s Dollars $36,375
XK-E -$6300 Today’s Dollars $45,878

In 1971, when I got married
Datsun 510 - $2154 Today’s Dollars $12,200
Ferrari 275 GTB4 - $14,500 Today’s Dollars $82,128
Gasoline $0.29 Today’s Dollars $1.64
Our first home purchase in 1974 - $26,000 Today’s Dollars $120,977

You can see that inflation has jacked up the cost of everything, but Federal auto regulations and more restrictive building codes have had a great effect also.


37 posted on 05/08/2012 8:34:32 AM PDT by BwanaNdege (Man has often lost his way, but modern man has lost his address - Gilbert K. Chesterton)
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