Americans Made more Money in 1980

[Nickdfresh]

Accord to CNN's Ali Velshi on Wolf Blitzer's "Situation Room," when the numbers are adjusted for inflation, Americans made more money in 1980 than they do today....

Thoughts?

[Satan]

Not surprising. The trickle down piss on the middle class reverse robin hood economic policies of the last 28 years have truly devastated this country.

Rolling back the Chimp tax cuts for the rich isn't even a drop in the bucket. Rolling back the Reagan tax cuts for the rich would be better. Rolling back EVERY economic policy of "Reagan", Poppy, and Chimpy would be better. And some of Clinton's too. (Kill NAFTA, un-repealing the Glass-Steagal act, etc.)

[Combat Ready]

That's interesting and somewhat surprising. Wonder how far the actual dollars would go back then.

1980 inflation was 14.8%
1982 jobless rate was 10.8%
1981 30 year mortgage was 18.5%

Can you fucking imagine 18.5% for a mortgage rate today? A starter/moderate house (depending where you live) costing $200,000 would run you over 3 grand a month---not including taxes of course. Today's rates would result in about $1150 per month for the same house.

Things are pretty fucked up nowadays but it's nice to put it in perspective....Could be worse.

[sadaist]

I remember in 1989 I opened a savings account at the local bank that was receiving 13% interest rate. That was regular saving. I also opened a 6-month cd that received 16%. I think I might be getting 1% on my current savings account :(

[Combat Ready]

I remember in 1989 I opened a savings account at the local bank that was receiving 13% interest rate. That was regular saving. I also opened a 6-month cd that received 16%. I think I might be getting 1% on my current savings account :(

Good point...Cuts both ways.

Shit--be happy with your 1% return. Many have lost 30% to 40% on 401k investments. OK, now I'm getting depressed.

[Satan]

I remember in 1989 I opened a savings account at the local bank that was receiving 13% interest rate. That was regular saving. I also opened a 6-month cd that received 16%. I think I might be getting 1% on my current savings account :(

You need to open an account at Lucifer Savings & Loan here in Hell. Guaranteed 6.66% interest on savings.

[sadaist]

You need to open an account at Lucifer Savings & Loan here in Hell. Guaranteed 6.66% interest on savings.

Sorry man, you're too late. Jesus already guaranteed me 7.77%. I just can't spend any earnings on whores, booze or gambling.

[Satan]

Sorry man, you're too late. Jesus already guaranteed me 7.77%. I just can't spend any earnings on whores, booze or gambling.

What kind of terms are those? :(