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You do realize you can't buy food or housing with "stuff" that is cheaper or more advanced than it was 10-20 years ago, right?
by hiou 11y ago
You do realize you can't buy food or housing with "stuff" that is cheaper or more advanced than it was 10-20 years ago, right?
- yummyfajitas 11y agoFood production is up, and our waistlines indicate consumption is as well. https://en.wikipedia.org/wiki/Food_security#/media/File:Food_production_per_capita_1961-2005.png https://en.wikipedia.org/wiki/Food_security#/media/File:Food... House sizes have also been increasing, even as # of people living in a house has been dropping. https://www.census.gov/const/C25Ann/sftotalmedavgsqft.pdf https://www.census.gov/const/C25Ann/sftotalmedavgsqft.pdf We simply have more of everything.
- hiou 11y agoSo then why is food and housing more expensive than it was 20 years ago? https://research.stlouisfed.org/fred2/graph/?g=8l2 https://research.stlouisfed.org/fred2/graph/?g=8l2 https://us.spindices.com/indices/real-estate/sp-case-shiller-20-city-composite-home-price-index https://us.spindices.com/indices/real-estate/sp-case-shiller... I'm not saying there isn't "more of everything", I'm saying there is less to pay for the most important everthings.
- yummyfajitas 11y agoWages have increased more rapidly than food CPI. https://research.stlouisfed.org/fred2/graph/?g=1yYT https://research.stlouisfed.org/fred2/graph/?g=1yYT Case-Shiller is an investment index, not a consumption one. You might as well say "look, S&P has gone up, everything is more expensive!" In fact, wages have increased relative to the cost of housing (i.e., rent or owner equivalent rent) also. https://research.stlouisfed.org/fred2/graph/?g=1yYW https://research.stlouisfed.org/fred2/graph/?g=1yYW