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View Diary: Abbreviated Pundit Round-up (69 comments)

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  •  I have to wonder if salary erosion is not (2+ / 0-)
    Recommended by:
    DRo, tb mare

    even deeper than Stiglitz notes.  For example, in 1972, a Chevy Impala cost approximately $3500 and a gallon of milk about $1 (from memory)  While the argument is made, for example, that the latest Chevy is so much more valuable than its 1972 ancestor, I note that the 1972 had AC, power windows and door locks, a V-8 though it was a relative gas hog.  It also had a full frame and was a tank in terms of safety.  Question is if the current model with its safety features and bells and whistles is worth the differential paid, in terms of percentage of a worker's average annual salary?

    •  Also, as I recall (2+ / 0-)
      Recommended by:
      Van Buren, tb mare

      TV was free and I only had one phone bill that was about three dollars a month.

      Be the change you want to see in the world. -Gandhi

      by DRo on Sun Jan 20, 2013 at 04:56:15 AM PST

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    •  Only if you're willing to pay for it (1+ / 0-)
      Recommended by:
      TomFromNJ

      You're paying for more safety, more emission control and better gas mileage, as well as a computer controlled engine.
      You can still find those 72 Impalas around (gas hog is an understatement), but it would be very expensive to drive!

       photo 1972-impala_zps307a0644.jpg

      “We are not a nation that says ‘don’t ask, don’t tell.’ We are a nation that says ‘out of many, we are one.’” -Barack Obama

      by skohayes on Sun Jan 20, 2013 at 05:11:57 AM PST

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      •  And HELL to park! (3+ / 0-)
        Recommended by:
        Mark Sumner, Egalitare, skohayes

        I owned a 77 Ford LTD -- about the size of Wisconsin, except Wisconsin got better mileage. I hit a deer coming home from a job interview (Watched one deer in the trees for too long, didn't see his partner until it was too late), and thought my radiator would be all over the road. Not only was my radiator intact, the wheels weren't even out of alignment.

        True story: I sold the car to a junkyard when the steering got literally dangerous -- getting the car to go left or right was like turning the Exxon Valdez. I was a radio announcer in central NY at the time (This is WAY back in the day!), and six months later, I was doing a personal appearance at a truck pull. At the end, they brought out two non-famous monster trucks to crush cars they'd bought at a junkyard.

        You got it. My old LTD was the fourth car they brought out, and they turned that sucker into a convertible in five minutes. I had the best time.

        "If you're going to go down with the ship, make it a submarine." - Wayne Shorter

        by Oliver Tiger on Sun Jan 20, 2013 at 06:02:04 AM PST

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      •  I know someone (0+ / 0-)

        with a full-sized Chevy Caprice. They describe it as getting yardage, not mileage.

        (Is it time for the pitchforks and torches yet?)

        by PJEvans on Sun Jan 20, 2013 at 08:55:20 AM PST

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    •  I had a 72 Mustang (0+ / 0-)

      Black & gold, with air. I wasn't the original owner (it had been repo'd) but I remember my price tag -- $2500. Even working weekends as a high school student, I could make the payments.

      However, there's a additional cost that every 70's car I owned -- every car my family and friends owned -- demonstrated regularly: repairs. Sure, a lot more things went wrong that I knew how to repair (I could replace a fan belt or radiator hose in ten minutes flat) but the number of fuel pumps, tie rods, etc. that went into those cars was just amazing.

      In contrast, I can't tell you the last time I had a car in for repair.

    •  It probably is deeper because... (2+ / 0-)
      Recommended by:
      DRo, Mark Sumner

      ...what we hold in common is also diminished. A significantly fewer percentage of people completed higher education with debt that couldn't be retired in a handful of years. Schools employed armies of workers to prepare actual meals on premises and paid them living wages. Waste collection was performed more than once a week.

      We can all compile lists that would be many lines long, but in short our Financial Overlords have decided that no matter how stressed our lives are, we have it "too good." Their spreadsheets tell them that there is still blood to be harvested from turnips. That is, if their future projections of profitability are to be believed in their Gilded Echo Chambers, and that's really all that matters.  :-p

      When you are right you cannot be too radical; when you are wrong, you cannot be too conservative. --Martin Luther King Jr.

      by Egalitare on Sun Jan 20, 2013 at 05:51:42 AM PST

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    •  in 1971 my parents (0+ / 0-)

      paid $2000 for a brand-new Toyota Corona. They wrote a check for the full amount. (No AC, no power doors or windows - but it was still on the road in 1988: I was driving it. It was still getting 30mpg on the highway.)

      (Is it time for the pitchforks and torches yet?)

      by PJEvans on Sun Jan 20, 2013 at 08:58:37 AM PST

      [ Parent ]

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