> The average price of gasoline in the US in 1970 was 34 cents including > tax. That would be $1.88 in 2008 dollars. Local prices are running $3.73 > here in Missouri. So, in real terms the price of gasoline has gone up > almost 100%. During that time, average real wages have gone up about 18% > according to the the Chicago Fed. I have seen studies that show real > wages have remained nearly flat since 1976 but let's give the Fed a > break. So, we are earning 60% as much gasoline per hour of work ... on > the average compared to 1970. In real terms (adjusted for inflation) the > price of gasoline has risen significantly more than the average wage. > > Your mileage may vary, > > Steve Brooks It certainly may vary. Depending on how you chose your statistics, you can make any case you like. My wages have gone up considerably more than 18% since 1970 (since 2000, for that matter), as has my vehicle's mileage, and I can still drive as far or farther on an hour's wages than I could at age 19. That's what I said, that's what I meant. Anyone working on pianos these days? Ron N
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