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By A Smith (anonymous) | Posted June 23, 2012 at 02:39:43 in reply to Comment 78851
Each dollar buys far less than in 1950. Then again, GDP/capita is 40x more than it was in 1950.
1950($'s)
US GDP/Capita = 1,936
New house (1000 sq.ft) = 8,450 (4.36X)
New car = 1,510 (0.78X)
1000 Gallons of gas = 180 (0.093X)
American Cheese = 0.45/lb
Porterhouse Steak = 0.95/lb
TV B/W = 250
Clock Radio = 60
2012($'s)
US GDP/Capita = 48,373
New house (>2000 sq.ft)= 235,700 (4.87X)
New car = 30,748 (0.64X)
1000 Gallons of gas = 3,470 (.072X)
American Cheese = 5.57/lb
Porterhouse Steak = 31.7/lb
TV Colour LED = 230
Clock Radio = 25
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