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> wages are higher. But housing is way more expensive But that means real wages are lower. > People today are better off and richer when it comes to everythin

> wages are higher. But housing is way more expensive But that means real wages are lower. > People today are better off and richer when it comes to everything except housing, health care, and tuition. Interesting spin to saying people are worse off and poorer but can afford leased iphones and cars that break often.

toomuchtodo 3y ago
Even the Fed has been guilty of this. > Reuters reports that New York Federal Reserve Bank President William Dudley was heckled at a speech in Queens today when he suggested that the rising cost of food is offset by how cheap iPads are. (2011) https://news.yahoo.com/news/blogs/lookout/fed-official-heckled-t-eat-ipad-20110311-122230-439.html https://news.yahoo.com/news/blogs/lookout/fed-official-heckl... https://www.reuters.com/article/idUSTRE72A4D5/ https://www.reuters.com/article/idUSTRE72A4D5/
- ClumsyPilot 3y ago
  its even worse than it sounds: "Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful" - this is idiotic. Just because performance of phones improved 1000x does not mean I can buy a functioning phone for $ 0.1. Just because 5G is 100x faster than 2g, does not mean my mobile phone bill is now $0.1. And they turned off 2G. our inflation calculation is fucked.
  - toomuchtodo 3y ago
    “Assume a spherical cow.”
deleted 3y ago
[deleted]
renewiltord 3y ago
No, it also means that if you cut costs in those three critical categories, you'll have a better life than people used to have before. Lots of us were able to cut costs in housing. And many of us were able to cut costs in healthcare through preventative care. Tuition is entirely optional. If you've got a mandatory need for a big house, have some pre-existing condition to maintain, and want to get a Harvard Divinity School degree then yeah, life's going to be much much worse. For my part, I'm very glad I was born now and not then. Life has been so much better.
- hotpotamus 3y ago
  As someone who was essentially born with a pre-existing condition, I’m not so sure I timed my birth correctly. No need for a big house or any more tuition - never wanted kids so I guess I’m saving lots of money there and then when I see what family health insurance costs these days during open enrollment, I’m pretty glad about that.
  - renewiltord 3y ago
    Yeah, many things are just random chance. Just bad luck. Can't be helped. But many things are a result of our actions given the constraints. I wouldn't trade my life for Al Bundy's.
    - hotpotamus 3y ago
      What’s wrong with Al Bundy’s life?
      - WalterBright 3y ago
        Peg, Kel, and Bud. It's in the title.
      - lotsoweiners 3y ago
        Haven’t you seen the show? Peg is always trying to have sex with him.
      - renewiltord 3y ago
        Nothing's wrong with it except that I like mine better. I'm sure others may prefer it to mine, but I like mine more.
        hotpotamus 3y ago
        Why do you like yours better?

toomuchtodo 3y ago

Even the Fed has been guilty of this. > Reuters reports that New York Federal Reserve Bank President William Dudley was heckled at a speech in Queens today when he suggested that the rising cost of food is offset by how cheap iPads are. (2011) https://news.yahoo.com/news/blogs/lookout/fed-official-heckled-t-eat-ipad-20110311-122230-439.html https://news.yahoo.com/news/blogs/lookout/fed-official-heckl... https://www.reuters.com/article/idUSTRE72A4D5/ https://www.reuters.com/article/idUSTRE72A4D5/

ClumsyPilot 3y ago
its even worse than it sounds: "Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful" - this is idiotic. Just because performance of phones improved 1000x does not mean I can buy a functioning phone for $ 0.1. Just because 5G is 100x faster than 2g, does not mean my mobile phone bill is now $0.1. And they turned off 2G. our inflation calculation is fucked.
- toomuchtodo 3y ago
  “Assume a spherical cow.”

deleted 3y ago

[deleted]

renewiltord 3y ago

No, it also means that if you cut costs in those three critical categories, you'll have a better life than people used to have before. Lots of us were able to cut costs in housing. And many of us were able to cut costs in healthcare through preventative care. Tuition is entirely optional. If you've got a mandatory need for a big house, have some pre-existing condition to maintain, and want to get a Harvard Divinity School degree then yeah, life's going to be much much worse. For my part, I'm very glad I was born now and not then. Life has been so much better.

hotpotamus 3y ago
As someone who was essentially born with a pre-existing condition, I’m not so sure I timed my birth correctly. No need for a big house or any more tuition - never wanted kids so I guess I’m saving lots of money there and then when I see what family health insurance costs these days during open enrollment, I’m pretty glad about that.
- renewiltord 3y ago
  Yeah, many things are just random chance. Just bad luck. Can't be helped. But many things are a result of our actions given the constraints. I wouldn't trade my life for Al Bundy's.
  - hotpotamus 3y ago
    What’s wrong with Al Bundy’s life?
    - WalterBright 3y ago
      Peg, Kel, and Bud. It's in the title.
    - lotsoweiners 3y ago
      Haven’t you seen the show? Peg is always trying to have sex with him.
    - renewiltord 3y ago
      Nothing's wrong with it except that I like mine better. I'm sure others may prefer it to mine, but I like mine more.
      - hotpotamus 3y ago
        Why do you like yours better?