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November 27, 2003
Hiya, Alan...
All a question of extent in terms of earning
and price ratios. I will give you an example.
In 1958, my folks had constructed in gorgeous upper middle class
suburbia
a beautiful ranch style house in North
Stamford. It went for $65,000.
The average annual salary of an American
Airlines Captain was around $55K or a little more at that time.
Today, that house goes for about 1.5 million.
The average AA Capt's salary today.....
$250K.
See what I mean. Average salaries are
no where near keeping up with average
rising costs in a lot of ways.
Oil is basic power. Raise it's cost 300% and with normal inflation over
the years,
costs of everything depending on oil as
a basic power source (as in manufacturing
and production) will rise 400%+- (or quality must suffer to some
extent).
(A "yesterday quality" chrome bumperette on a Frogeye would easily go
for $150 today. A nice thick vinyl convertible top
[I've still got one and the difference in thickness of fabric has to be
seen to be
believed!] for at least $500, maybe more!)
"Suddenly", the average car costs $25,000
(inclusive of modern improvements) instead of $5,000. And the house
prices? ...well....see above! :)
Basic power is oil. It's been artificially
priced and globally, all economies are
taking a beating accordingly. Part of this
money is being used to finance global
terrorism, through investment in firms
abroad and a lot of other ways as well,
my friend! We are paying for this and
most especially, our SUV loving idiots
over here!!
Cap'n. Bob
'60 :{)
PilotRob@... 27031
Posted on November 27, 2003 12:05 PM
Posted to category(s) Exterior | Gauges | Interior | International | Lubrication System | Miscellaneous | Tuning
