Inflation Calculator For 1$-Check The Year You Were Born vs. Today

fmdog44

fmdog44

Well-known Member
Location
Houston, Texas
https://www.dollartimes.com/inflation/inflation.php?amount=1&year=1988

I went there to see what a dollar in 1948 is worth today= $10.48
 

while it is always fun to play with these things the problem is really interpreting what the results really mean ... monetary inflation is one thing ..that is where the money supply has expanded so much that the equivelant dollars is the ending calculation ... but only a portion of that answer is monetary inflation ... the rest is simple supply and demand ... if we over use something as a society and the price goes up , that is not monetary inflation .. if we stop over using the item the price falls .. look at oil , we paid more 10 years ago then today because that which was scarce is now abundent .

if oranges go up from the frost in florida that is not monetary inflation , if strikes , political issues ,politics drive up prices , that again is not monetary inflation even though the price went up .

you really could not look at a dollar in a particular year and say what the equivalent is because price changes by demand really should be adjusted out , we did that to ourselves by over use not printing dollars
 
our first house was 35k back in the 1970's ... today the 30k mortgage is long gone and that mortgage no longer having to be paid represents so little when taxes are 12-18k and the utility bill is bigger . the paid off mortgage added near nothing to affordability .so inflation works both ways . it cheapens debt to the point not having it may represent little in the scheme of things if everything else went up a lot .
 
The thing that I see when I use these inflation calculators is that the money was much harder for me to come by back in the 1970's and even with inflation over the years it is much easier for me to afford things today.

Some of that is due to efficiency in production for electronics, automobiles, etc... and some of that is due to the compounding of savings over the years.

Today the average person has a better quality of life in so many ways than billionaires like John D. Rockefeller had back in the 1920s. Things like healthcare, airline travel, telephone communication, air conditioning, etc... are all within the reach of the average person today.

We've come along way, Baby! :):playful::eek:nthego:
 
well in those days i was starting out in my career and made little as well as i had little job skills..over decades i expanded my career and pay so even on an inflation adjusted basis it is way higher up until i retired
 
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Calculator thingy didn't work for me. Guess I am just worthless. Worth less now than I was then.
 

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