Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
They go to an art or fashion institute and pay over 50k per year in tuition for a worthless degree in an over saturated industry where you make less than $50k out the gate. I've known dudes that we're paying of their GF's or Wife's 6 figure student loans and the chicks weren't even attractive. Such a bad decision.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
I actually *live* the million dollar listing shows IRL .
You need to contact BRAVO television
I admit it. I've watched this show a time or two. The two dudes in the middle are gigantic douches. The guy on the far right is too delicate to hate.
The NYC version is ok. Fredrik is a gaytastic fag.
There’s a new show with Frederik and Bethenny Frankel that’s not bad. I so want to motorboat her fake titties.
Frederik’s not so much.
You sound super duper gay here.
Google video search "Bethenny Frankel nude" and get back to me on that.
I admit -these Bravo/E! real estate shows are my achilles heel. There's one called Real Estate Wars that has fantastic fake boobies and semi-gay/narcisstic bros that shows great promise.
Yes, craves it, yes, no, armpit only
I feel like I don't even know you anymore throbber.
If Michael Rappaport can watch the Real Housewives, I can watch my real estate shows.
Mrs. Throbber hates them, too.
I'm thinking they are made for guys. My wife doesn't watch either
The irony of these shows is that the majority of people who do really well in residential real estate - are women.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
I actually *live* the million dollar listing shows IRL .
You need to contact BRAVO television
I admit it. I've watched this show a time or two. The two dudes in the middle are gigantic douches. The guy on the far right is too delicate to hate.
The NYC version is ok. Fredrik is a gaytastic fag.
There’s a new show with Frederik and Bethenny Frankel that’s not bad. I so want to motorboat her fake titties.
Frederik’s not so much.
You sound super duper gay here.
Google video search "Bethenny Frankel nude" and get back to me on that.
I admit -these Bravo/E! real estate shows are my achilles heel. There's one called Real Estate Wars that has fantastic fake boobies and semi-gay/narcisstic bros that shows great promise.
Yes, craves it, yes, no, armpit only
I feel like I don't even know you anymore throbber.
If Michael Rappaport can watch the Real Housewives, I can watch my real estate shows.
Mrs. Throbber hates them, too.
I'm thinking they are made for guys. My wife doesn't watch either
The irony of these shows is that the majority of people who do really well in residential real estate - are women.
So you don't need brass balls to sell real estate?
Why are we pretending like student loans are the main issue here?
Go back to 2000. What was the median income for your profession? I bet it isn't terribly more today than it was then.
How much did a vehicle cost new? As an example I drive a 2005 Dodge 2500 Laramie quad cab with a 5.9L Cummins. Brand new it was $33k. Today that same truck runs about $70k. What does this new truck do over mine? Well the engine life in the 6.7L is half of the 5.9L because of Bronco's pollution bullshit on the engine and it has 60 more pounds of torque and much worse fuel mileage.
My bass boat is an 04 Triton TR-21X with a 250 Optimax. Brand new it was $31k because it was the Bassmaster Classic model with every whistle on the planet. Today that same boat is $79k. The only difference is the new Opti Pro XS has carbon fiber reeds which break more often and cost four times more to replace, the boat is one inch wider, and you get a cool organizer in the front bin.
In 1997 I bought a Fender Strat Plus for $650 new. Today that same equivalent is $2k.
This same grotesque upcharge holds true for college. Financing and insurance are why things are preposterously expensive. That new $79k bass boat is $450 a month, which people can afford, for 20 fucking years!!!
That $70k truck is $800 a month for an eternity.
Insurance ties it all together. If your ass made $50k a year and your truck cost $70k with no insurance there is zero chance the masses would buy them.
Previously people were house poor, which isn't terrible because there are really no bad long term real estate ventures. Today people are just poor and it's 100% their own fault. I'm 34 and have zero debt of any kind and I don't really make that much money. I just don't throw it away on nonsense, which is rare.
Why are we pretending like student loans are the main issue here?
Go back to 2000. What was the median income for your profession? I bet it isn't terribly more today than it was then.
How much did a vehicle cost new? As an example I drive a 2005 Dodge 2500 Laramie quad cab with a 5.9L Cummins. Brand new it was $33k. Today that same truck runs about $70k. What does this new truck do over mine? Well the engine life in the 6.7L is half of the 5.9L because of Bronco's pollution bullshit on the engine and it has 60 more pounds of torque and much worse fuel mileage.
My bass boat is an 04 Triton TR-21X with a 250 Optimax. Brand new it was $31k because it was the Bassmaster Classic model with every whistle on the planet. Today that same boat is $79k. The only difference is the new Opti Pro XS has carbon fiber reeds which break more often and cost four times more to replace, the boat is one inch wider, and you get a cool organizer in the front bin.
In 1997 I bought a Fender Strat Plus for $650 new. Today that same equivalent is $2k.
This same grotesque upcharge holds true for college. Financing and insurance are why things are preposterously expensive. That new $79k bass boat is $450 a month, which people can afford, for 20 fucking years!!!
That $70k truck is $800 a month for an eternity.
Insurance ties it all together. If your ass made $50k a year and your truck cost $70k with no insurance there is zero chance the masses would buy them.
Previously people were house poor, which isn't terrible because there are really no bad long term real estate ventures. Today people are just poor and it's 100% their own fault. I'm 34 and have zero debt of any kind and I don't really make that much money. I just don't throw it away on nonsense, which is rare.
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Have no idea if you're numbers are perfect, but the point is valid. I bought a brand new, fully loaded (every single option you could get) GMC Z-71 half ton in 1995. Cost me 24,000 out the door (TTL) with the dealer even throwing in a bed mounted gooseneck to seal the deal.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Have no idea if you're numbers are perfect, but the point is valid. I bought a brand new, fully loaded (every single option you could get) GMC Z-71 half ton in 1995. Cost me 24,000 out the door (TTL) with the dealer even throwing in a bed mounted gooseneck to seal the deal.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
Thanks, Obama.
Vehicle pricing skyrocketed after the cash for clunkers program. Inventory on used vehicles is tightening. New car manufacturers know they can squeeze consumers balls and have jacked up prices on new cars.
But the rest of what you say in your morning drunken state is true. Wages for the workers have not kept pace. REVOLUCION!
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Have no idea if you're numbers are perfect, but the point is valid. I bought a brand new, fully loaded (every single option you could get) GMC Z-71 half ton in 1995. Cost me 24,000 out the door (TTL) with the dealer even throwing in a bed mounted gooseneck to seal the deal.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
The issuance of debt contributes to inflation vis-a-vis less push back to cost. Unless you run a bidness (investment) that needs the vehicle, it's a consumerism.
For most, education is becoming consumerism.
Inflation and the issuance of debt are one-hand-washing-the-other pinching the middle class into modern day slavery.
Can middle class stay ahead/even with inflation sans the issuance of debt? Good question.
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Have no idea if you're numbers are perfect, but the point is valid. I bought a brand new, fully loaded (every single option you could get) GMC Z-71 half ton in 1995. Cost me 24,000 out the door (TTL) with the dealer even throwing in a bed mounted gooseneck to seal the deal.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
The issuance of debt contributes to inflation vis-a-vis less push back to cost. Unless you run a bidness (investment) that needs the vehicle, it's a consumerism.
For most, education is becoming consumerism.
Inflation and the issuance of debt are one-hand-washing-the-other pinching the middle class into modern day slavery.
Can middle class stay ahead/even with inflation sans the issuance of debt? Good question.
Consumer debt is the bigger evil, imo.
It must be pointed out I recognize a healthy economy does have a low, single-digit inflation rate.
However, the industries discussed - education, big pharma/medicine and autos - have all grossly outstripped the historical CPI.
In my view, this is due to a system foistered around insuring payment vis-a-vis unlimited debt issuance and absolving other market-level cost impingements.
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Have no idea if you're numbers are perfect, but the point is valid. I bought a brand new, fully loaded (every single option you could get) GMC Z-71 half ton in 1995. Cost me 24,000 out the door (TTL) with the dealer even throwing in a bed mounted gooseneck to seal the deal.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
The issuance of debt contributes to inflation vis-a-vis less push back to cost. Unless you run a bidness (investment) that needs the vehicle, it's a consumerism.
For most, education is becoming consumerism.
Inflation and the issuance of debt are one-hand-washing-the-other pinching the middle class into modern day slavery.
Can middle class stay ahead/even with inflation sans the issuance of debt? Good question.
Consumer debt is the bigger evil, imo.
It must be pointed out I recognize a healthy economy does have a low, single-digit inflation rate.
However, the industries discussed - education, big pharma/medicine and autos - have all grossly outstripped the historical CPI.
In my view, this is due to a system foistered around insuring payment vis-a-vis unlimited debt issuance and absolving other market-level cost impingements.
I don't understand most of what you wrote but I am pretty sure I agree. Shit costs too much!
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Have no idea if you're numbers are perfect, but the point is valid. I bought a brand new, fully loaded (every single option you could get) GMC Z-71 half ton in 1995. Cost me 24,000 out the door (TTL) with the dealer even throwing in a bed mounted gooseneck to seal the deal.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
The issuance of debt contributes to inflation vis-a-vis less push back to cost. Unless you run a bidness (investment) that needs the vehicle, it's a consumerism.
For most, education is becoming consumerism.
Inflation and the issuance of debt are one-hand-washing-the-other pinching the middle class into modern day slavery.
Can middle class stay ahead/even with inflation sans the issuance of debt? Good question.
Consumer debt is the bigger evil, imo.
It must be pointed out I recognize a healthy economy does have a low, single-digit inflation rate.
However, the industries discussed - education, big pharma/medicine and autos - have all grossly outstripped the historical CPI.
In my view, this is due to a system foistered around insuring payment vis-a-vis unlimited debt issuance and absolving other market-level cost impingements.
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Have no idea if you're numbers are perfect, but the point is valid. I bought a brand new, fully loaded (every single option you could get) GMC Z-71 half ton in 1995. Cost me 24,000 out the door (TTL) with the dealer even throwing in a bed mounted gooseneck to seal the deal.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
The issuance of debt contributes to inflation vis-a-vis less push back to cost. Unless you run a bidness (investment) that needs the vehicle, it's a consumerism.
For most, education is becoming consumerism.
Inflation and the issuance of debt are one-hand-washing-the-other pinching the middle class into modern day slavery.
Can middle class stay ahead/even with inflation sans the issuance of debt? Good question.
Consumer debt is the bigger evil, imo.
It must be pointed out I recognize a healthy economy does have a low, single-digit inflation rate.
However, the industries discussed - education, big pharma/medicine and autos - have all grossly outstripped the historical CPI.
In my view, this is due to a system foistered around insuring payment vis-a-vis unlimited debt issuance and absolving other market-level cost impingements.
I was wrong about them autos ...
Thing is, overall things are more accessible to the population now. Back in the 70s, it was a big deal to but a washer and dryer or fridge, for instance. Now that shits just throw away. I have bought 2 washer and dryers and 2 fridges in the 9 years I've owned this house. But unless you are buying top of the line shit, like $3,000 for a fridge, then really they are way more accessible to buy than in the 70s.
Vehicles are cheaper now because of interest rates really. And the internet. When you can buy at zero percent or 2.99% and shop Dave Smith and Dennis Dillon, it changes the equation. My local dealer wants $65k for a new Denali Duramax 1 ton or I can drive to Boise and get one from Dennis Dillion for $56k. And register in Montana for no sales tax.
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Have no idea if you're numbers are perfect, but the point is valid. I bought a brand new, fully loaded (every single option you could get) GMC Z-71 half ton in 1995. Cost me 24,000 out the door (TTL) with the dealer even throwing in a bed mounted gooseneck to seal the deal.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
The issuance of debt contributes to inflation vis-a-vis less push back to cost. Unless you run a bidness (investment) that needs the vehicle, it's a consumerism.
For most, education is becoming consumerism.
Inflation and the issuance of debt are one-hand-washing-the-other pinching the middle class into modern day slavery.
Can middle class stay ahead/even with inflation sans the issuance of debt? Good question.
Consumer debt is the bigger evil, imo.
It must be pointed out I recognize a healthy economy does have a low, single-digit inflation rate.
However, the industries discussed - education, big pharma/medicine and autos - have all grossly outstripped the historical CPI.
In my view, this is due to a system foistered around insuring payment vis-a-vis unlimited debt issuance and absolving other market-level cost impingements.
I was wrong about them autos ...
Thing is, overall things are more accessible to the population now. Back in the 70s, it was a big deal to but a washer and dryer or fridge, for instance. Now that shits just throw away. I have bought 2 washer and dryers and 2 fridges in the 9 years I've owned this house. But unless you are buying top of the line shit, like $3,000 for a fridge, then really they are way more accessible to buy than in the 70s.
Vehicles are cheaper now because of interest rates really. And the internet. When you can buy at zero percent or 2.99% and shop Dave Smith and Dennis Dillon, it changes the equation. My local dealer wants $65k for a new Denali Duramax 1 ton or I can drive to Boise and get one from Dennis Dillion for $56k. And register in Montana for no sales tax.
You register in cuntville for the "I have no balls" tax
Most poeple with a ton of debt and stupid degrees are somewhat hot girls.
They get some dude to pay for them eventually.
If you're a guy with that then you are an idiot.
Young people can be wise
True.
When they turn 40.
Wisdom has nothing to do with it.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Have no idea if you're numbers are perfect, but the point is valid. I bought a brand new, fully loaded (every single option you could get) GMC Z-71 half ton in 1995. Cost me 24,000 out the door (TTL) with the dealer even throwing in a bed mounted gooseneck to seal the deal.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
The issuance of debt contributes to inflation vis-a-vis less push back to cost. Unless you run a bidness (investment) that needs the vehicle, it's a consumerism.
For most, education is becoming consumerism.
Inflation and the issuance of debt are one-hand-washing-the-other pinching the middle class into modern day slavery.
Can middle class stay ahead/even with inflation sans the issuance of debt? Good question.
Consumer debt is the bigger evil, imo.
It must be pointed out I recognize a healthy economy does have a low, single-digit inflation rate.
However, the industries discussed - education, big pharma/medicine and autos - have all grossly outstripped the historical CPI.
In my view, this is due to a system foistered around insuring payment vis-a-vis unlimited debt issuance and absolving other market-level cost impingements.
I was wrong about them autos ...
I have a hunch that pick up trucks aren't the best measure of inflation in the auto market. Seems that a lot of folks in the market for them aren't the most responsible of consumers and want a tuff rig with all the bells and whistles. Finance that mother fucker and insure it!
Look at something lame like a Toyota Camry. In 1998 MSRP for a fully loaded one was $22,500 or $34,500 in 2018 USD. In 2018 sticker on a fully loaded Camry is about $34,500 so right inline with CPI for inflation over the past 20 years.
Comments
The irony of these shows is that the majority of people who do really well in residential real estate - are women.
Go back to 2000. What was the median income for your profession? I bet it isn't terribly more today than it was then.
How much did a vehicle cost new? As an example I drive a 2005 Dodge 2500 Laramie quad cab with a 5.9L Cummins. Brand new it was $33k. Today that same truck runs about $70k. What does this new truck do over mine? Well the engine life in the 6.7L is half of the 5.9L because of Bronco's pollution bullshit on the engine and it has 60 more pounds of torque and much worse fuel mileage.
My bass boat is an 04 Triton TR-21X with a 250 Optimax. Brand new it was $31k because it was the Bassmaster Classic model with every whistle on the planet. Today that same boat is $79k. The only difference is the new Opti Pro XS has carbon fiber reeds which break more often and cost four times more to replace, the boat is one inch wider, and you get a cool organizer in the front bin.
In 1997 I bought a Fender Strat Plus for $650 new. Today that same equivalent is $2k.
This same grotesque upcharge holds true for college. Financing and insurance are why things are preposterously expensive. That new $79k bass boat is $450 a month, which people can afford, for 20 fucking years!!!
That $70k truck is $800 a month for an eternity.
Insurance ties it all together. If your ass made $50k a year and your truck cost $70k with no insurance there is zero chance the masses would buy them.
Previously people were house poor, which isn't terrible because there are really no bad long term real estate ventures. Today people are just poor and it's 100% their own fault. I'm 34 and have zero debt of any kind and I don't really make that much money. I just don't throw it away on nonsense, which is rare.
When they turn 40.
If you are a consumer that buys new today you're poor. An education, a modest home, a kid, and two Kia's means you are poor for the most part. If you are throwing 10% into your IRA like a responsible person you're paycheck to paycheck long term.
Prices of life items increased 200-300% in the last fifteen years and I'm guessing, but I would say wages might have increased 50%. It's probably closer to 35% though.
Went into a Ford dealership a couple years ago to look at a fully loaded with everything half ton. 62K. Probably could have walked out of the dealership with it (TTL and haggling) for 60K.
I didn't buy it. Price has more than doubled in 20 years, while I bet average wages have gone up less than 40 percent. It's fucking absurd. Electronics and laptops have gotten cheaper, everything else - houses, education, vehicles, milk and bread has doubled since the mid to late 90's, and wages haven't even come close to keeping up. Everyone talks about the lack of skilled worker jobs is what has killed the middle class...but I think prices have contributed at least as much, if not more. But what do I know. I'll just get drunk and think about it some more.
Vehicle pricing skyrocketed after the cash for clunkers program. Inventory on used vehicles is tightening. New car manufacturers know they can squeeze consumers balls and have jacked up prices on new cars.
But the rest of what you say in your morning drunken state is true. Wages for the workers have not kept pace. REVOLUCION!
For most, education is becoming consumerism.
Inflation and the issuance of debt are one-hand-washing-the-other pinching the middle class into modern day slavery.
Can middle class stay ahead/even with inflation sans the issuance of debt? Good question.
Consumer debt is the bigger evil, imo.
However, the industries discussed - education, big pharma/medicine and autos - have all grossly outstripped the historical CPI.
In my view, this is due to a system foistered around insuring payment vis-a-vis unlimited debt issuance and absolving other market-level cost impingements.
Vehicles are cheaper now because of interest rates really. And the internet. When you can buy at zero percent or 2.99% and shop Dave Smith and Dennis Dillon, it changes the equation. My local dealer wants $65k for a new Denali Duramax 1 ton or I can drive to Boise and get one from Dennis Dillion for $56k. And register in Montana for no sales tax.
Look at something lame like a Toyota Camry. In 1998 MSRP for a fully loaded one was $22,500 or $34,500 in 2018 USD. In 2018 sticker on a fully loaded Camry is about $34,500 so right inline with CPI for inflation over the past 20 years.