Posted on 05/27/2019 11:18:10 AM PDT by Boomer
In the U.S., apparently not every dollar is equal.
The value of $1 varies depending on where you go. According to new data compiled by 24/7 Wall Street from the Bureau of Economic Analysis (BEA), a dollar goes the furthest in America's "poorest states," such as Mississippi and Alabama.
Overall, purchasing power is nearly 35 percent greater in The Magnolia State compared to New York, Forbes reported last year, citing 2016 findings from the BEA. In New York, $100 is worth only about $86.51, while $100 in Mississippi is valued at $115.74, the publication stated.
If you watch ads from places like McDonalds,Burger King,etc when they're advertising a new burger for $4.99 it will say in small print "prices higher in AK,HI and the Tri State area".
Interesting. If you are worth $4mm and living in Hawaii, you can relocate to Mississippi or Arkansas and boom, you are worth $5mm in relative ability to spend and invest the same dollars.
Move to Mexico and you are worth much more.
In a few countries you might be a billionaire!
“I’m surprised Florida isn’t near the top. Cost of living here is low.”
Average. There are a lot of expensive areas.
Our buck is worth a buck, though.
How about the poor schnooks at the bottom of the list?
I am surprised the differences are not greater. Of course, it depends on you basket of purchases.
But we have nice weather?
Lol
We know it costs a lot to live at the bottom of the list.
Rent control can only do so much. LOL
Do they leave out “volatile food and energy” prices? How about home prices? I understand they are expensive in California.
Yankee dollars just ain’t that good any more.
One size fits all laws just don't fit.
Right?
So what is the basis for the dollar that is worth a dollar? Is it an average? Is it one particular state or city??
North Florida with low CoL is balanced by South Florida where things cost more.
Evidently. Must be pretty bad down there.
The JFK State! One of Barak’s 57 states!
The US dollar is legally defined as 371.5 grains of .999 fine silver. The FRN was a proxy for the dollar until August 15, 1971. Today a FRN will buy you 33 grains of .999 fine silver. Currently a FRN is worth 9% of a lawful dollar. Silver is likely to rise toward 100FRN per ounce over next eighteen months causing the FRN to lose over 80% of its current purchasing power.
I do hope you didn’t bring Massachusetts politics to your new home as so many NYers do to Florida. Florida is always on the edge of turning Democrat in national elections because of the yankee wetbacks and carpetbaggers. Eventually the southern counties will rule and it will be New York sensibilities and politics.
We’ve recently acquired another home in Gardnerville, Nevada ( just down the hill, and over the state line from Lake Tahoe). Same story. Gas is a buck a gallon less, there is NO STATE INCOME TAX and property taxes are so low, by comparison to CA you hardly know that they exist! The locals are 95% conservative and a lot of them routinely carry a gun. Plus the scenery is to die for. The only thing that’s really gotten hard to understand is that restaurants are all through serving dinner at 9 p.m.
We pay so much to live here for the sole reason that we are here. Friends, family, etc. sometimes it’s impossible to move (taking care of elderly, children in special school). But we dream!
in the once-great state of Californication, a dollar buys about 5 cents of stuff nowadays
indeed, less.
sodas used to be 5 cents.
now they are $2 or $2.50 sometimes in vending machines and $3 (plus 30 cents tax) in diners
in Californication
Hi.
So when Floridians give to the FReepathon, we actually give one full dollar. Not like NY and CA. So in the tally of the state’s, decrease the NY and CA rankings by the appropriate percentage.
Oh, and TX too.
Thanx.
5.56mm
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