In 1971, the year Nixon killed the gold standard, average college graduate starting salary was $9,886, or 282 oz of gold, under the gold peg. That’s roughly 13% of an ounce per hour. This is $514k in today’s fiat. Minimum wage was $1.60, or 4.57% of an ounce of gold, per hour.
In 1979, the avg starting salary of college grads was $16,692. This was about 76 oz earlier in the year but when inflation went parabolic by Jan 1980 this salary was ~ 24 oz of gold. In modern fiat that’s $139k and $44k
In the year 2000, avg starting college grad salary was $39,824 or 137 oz of gold. $250k in modern fiat.
In 2008 avg college grad salary was $49,224 or 55 oz of gold. This is $100k in modern fiat.
In 2019, avg college grad starting salary was $51k or 36 oz. This is $66k in today’s fiat
In 2022 the avg college grad starting salary was $55k, or ~30.5 oz.
In the year 2022 full time 🇺🇸 minimum wage is 8.25 ounces of gold, *per year*. College grads start with 30.5 oz. 3.7x. In 1971, the last year of the gold standard, minimum wage was 95 oz of gold per year. College grads were at 282 oz salary first year after grad (2.97x)
Continuing on our county’s tradition, built on stolen land, by stolen labor, in the post civil rights era the only way #classwarfare is sustainable is thanks to the @federalreserve. Growing pie is a farce.
You know how you can collect air miles or hotel points and overnight the brands like $MAR $AAL $UAL devalue them ? This is the job of the Fed. They rug pull We the People when oligarchs feel we are getting to comfortable.
I mean just listen to them. The HD founder. Charlie Munger. They want desperation. That’s how “the economy” gets ahead. Btw.When did “the economy” replace the words COUNTRY or society?
KPIs for progress are a market cap weighted stock index or the fiat value of the stuff sold by the every shrinking # of corp oligarchs. 👈 why are these accepted ?? WAKE UP!
2022 🇺🇸 GDP *per capita*, priced in hard currency aka #soundmoney is 33 oz. In 2008 it was 66 oz of gold. In 2000 it was 134 oz. In 1971 it was 706 oz of gold.
How much did child miners get paid in old America? Boys were paid from $0.75 to $1.25 per day. Gold was ~$20. Figure 14-16 hour days? Say $1/d. 16h shift gets them $5.70 equivalent per hour , in modern fiat.
What did men earn in 1905 in USA ? $10-11 per week , on average. 26 ounces of gold if we round it to $10/w. $47,476 in modern fiat. (Not sure how many avg hours tho)
1905: Of the 3,297,819 wage-earners, 2,619,053, or 79.4 %, were men; 588,599, or 17.9 %, were women; and 90,167, or
2.7 %, were children.
2.7 %, were children.
The average house cost was $4,690 in 1905 ($428,197 in modern fiat , given gold was $20 back then). . The average cost of a car in 1905 was $1,450. ($132,385). The average cost of a loaf of bread was $0.04. ($3.65)
In 1971, poverty threshold was $4,137 (119 oz of #gold) for a nonfarm family of four; it was $3,968 (113 oz ) in 1970, and $2,973 (85 oz ) in 1959. In modern fiat that’s $218k, $207k,and $156k, respectively. Today it’s
$27,750 in modern fiat; or 15 oz of gold. #classwarfare
$27,750 in modern fiat; or 15 oz of gold. #classwarfare
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