Skip to comments.Watch- The Magic of Inflation: What $5.62 Bought in 1962
Posted on 07/24/2011 10:26:12 AM PDT by Nachum
Ah yes, life is so much better under the Obama economy now.
(Excerpt) Read more at rightwire.net ...
The newest cars in the film were 1957 models. Also, none of the women were wearing 1962 hairdos.
Whoa hold up a minute, it isn’t all bad. Oil cost $3.00/bbl back then.
Mrs. C and I were living in Fayetteville in late 68 and early 69. We went up to spend Christmas with her Mom. A couple of days after Christmas my dearest was hit by a really bad craving(pica) for watermelon.
I had the darnedest time finding one. Finally did in a deli that supplied the rich borough just south of what is now A_Sheville, NC. Paid $5.00 for it. Now they cost three or four bucks in today’s money.
Trade with Chile, lower prices. The 68 price in today’s oil prices would be near about $150.00 in 0bama dollars.
A computer now costs under a grand fully flexed out. Then one cost anywhere from thirty grand up to nearly a million.
Better hitting a double(second base) than falling in the grand canyon on a first date.(IMHO)
Caddis the Elder
As for the fuel, looks like in 62' the price was .31$ a gallon, that's $2.21 in 2010 prices.
The local grocery store has both 8-pack and 10-pack granola bars selling for the same price. Halfway to the change over to smaller packages.
That’s 20% inflation right there.
I should have kept my first car - a 1955 Pontiac - I bought used in 1966 for $250, and sold in 1969 for $250.
With inflation that $250 purchase would have been worth $1,660.95 in 2010. Yet, on Ebay a couple years ago I found three 1955 Pontiacs exactly like my old one, and all for sale for $30,000. That “investment” would have been WAY ahead of inflation. (Now, don’t spoil the idea with reminders about the “cost of ownership”).
P.S. To Nachum - I think the video is 1957; that’s what the date MCMLVII means (in the opening credits), and I saw no cars older than ‘57 in the footage.
That would make the $5.63 grocery tab in 1957 worth $43.19 in 2010.
While you don’t see the cashier wring up everything, you do see her wring up most of the items and with most of the items everything is priced below $0.50. That part was interesting in itself.
Your dearest one sent you out looking for watermelon at Christmas-time?
Have you ever thought about the possibility that she was trying to get you out of the house?
I remember that year standing on the front porch with my Dad. I pointed out to Dad that the neighbors across the street had just bought 2 brand new Chevy’s. My dad turned to me and said “Well you can afford two new cars when you are pulling down $10,000 per year”.
She was very, verry, verry pregnant. Safe even if she were ditching me for some rich jerk her folks had hope she would marry.
She ate everything but the shiny part of the pitifully small melon. Perhaps thou art judging my wife’s bushel in thine own pint cup.
I just remember reading the Dick Tracy comic strip and he had a $4000 car!
That is possible. It was a long time ago. I'm pretty sure about the $4000 figure for the Corvette.
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