how is the standard dollar calculated?
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.
ANNNDD...Comparing it)the dollar) to the value back in 1913, ( sumtin came about that year) it’s worth 1 CENT NOW !!!
sodas used to be 5 cents......
Seeing that 5 cents thingy made my memory go back tothe 5 cent “Belly Busters) at White Castle ! AND They were on ssle on weekends. 24 for a dollar
WOW!
we had a local burger place like White Castle (somewhat larger burgers, tho not huge)
it was 13 burgers for a dollar.
that was as cheap as I can recall, and they were GOOD!
I’m pretty sure the dollar is worth about 30 cents in Illinois.
To be fair, many people continue to live in these abominable states because they are unable to move due to cost, jobs, family, and a myriad of other reasons.
California is a whole other story.
That depends on the area. South Florida tends to be expensive, especially as to housing.
Suppose rent in Dallas is $1000 a month and for a comparable apartment in Seattle it is $2000 a month, and in Biloxi it is $500.
Choosing Dallas as a base, a dollar in Dallas is worth a dollar. Since Seattle would only buy half a month’s rent compared to Dallas, Seattle’s dollar is worth fifty cents.
By the same math, Biloxi’s dollar is worth two dollars.
If you drill down far enough, you end up here.
https://www.bea.gov/news/blog/2019-05-23/check-out-buying-power-your-metro-area
how is the standard dollar calculated?
Kinda thinking California should be more like $0.65 cents.
Lets get real about this.
The COL out here with taxation, housing flooded with illegal aliens, and a whole lot more, has skyrocketed.
It’s tough on a lot of businesses because their employees simply cannot afford to live here.
“I do hope you didn’t bring Massachusetts politics to your new home as so many NYers do to Florida”
I’m an old guy and grew up in Northern NJ in a Conservative Italian family in the 50’s. In fact in the 50s the Democrats of the day were as Conservative as the Republicans of today.
SC is really red and there are MAGA hats & Thank You Jesus signs all over.
Here’s a fiscal ranking of all 50 states from the latter part of 2018. Compares Democrat vs Republican controlled states.
https://www.mercatus.org/statefiscalrankings
Bottom of the barrel?
Very useful for any considering a major relocation...factor the dollar value when comparing pay, benefits, and taxation.
Same here on the AZ-UT border. 30-cents a gallon cheaper in Utah.
WOW ! For the first time in Kentucky’s history there near the top in something Tied for third. Thanks Governor Bevin
Agreed, my good FRiend.
It took me several years, post retirement, to manage to move from the once Golden State.
That was 4 years ago, and I'm thankful every day that I made the (difficult, in many ways) jump.
I'm a political refugee, but there are many more reasons for moving. DD is an important process.
That said, I more than understand the reasons for remaining, and the substantial frustration, as well.
Ah. I stayed in Lake Tahoe in 1984, just across the Ca-NV border. I jogged to Nevada one day to see a casino. Bought a steak dinner, didn’t gamble.
Very beautiful. Ponderosa pines. I drove all around the lake. Saw the site of the Ponderosa TV show.
“Ah. I stayed in Lake Tahoe in 1984”
Well, that was a different time! When we use the Kingsbury Grade to reach South Tahoe from Gardnerville (a distance of 24 miles door to door), it takes about 30 minutes in good weather, To drive from the State Line to the left turn onto Hwy 50 going west is about 5 miles, and with the traffic congestion, it takes another 30 minutes. You used to have to drive up to the lifts at Heavenly Valley to board them to ski, now a gondola comes right into the State Line Area to take you up. But, with all that, it’s still beautiful!
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