Why Baby Boomers Don't Understand Occupy Wall Street

[Ban Hammer 13,501]

Robo-Doc.

robo-nurse sounds more interesting

I remember when I could fill my gas tank for $2.50. A gallon of milk was $.25 and a pack of gigs was $.10. A triple screening at the neighborhood theater was $.50, a record album cost $2. In 1974, my first husband and I could fill two grocery carts overflowing with food and pay less than $100. I never had a car note over $120/month with no down payment. Our first place was $250/month for three bedrooms, a fireplace, the kitchen was 15' x 26' and we had a huge yard.

Things have changed a bit . . .

dang you're old...

[dalegg 143]

dang you're old...

No kidding. In my entire life I've never even heard of a gallon of milk costing a quarter, and a gallon of gas being what, 15 cents? I can however remember paying $250 a month rent.

[Sofiyya 1,687]

Back in the day, things were made to last. Now, so many things are made cheaply, with built in obsolescence.

All of that stuff is cheaper now than it was in the 1950's or 60's relative to today's wages.

All you really care about is the cost of medical care.

dang you're old...

I have a great memory, though.

[Ban Hammer 13,501]

No kidding. In my entire life I've never even heard of a gallon of milk costing a quarter, and a gallon of gas being what, 15 cents? I can however remember paying $250 a month rent.

i remember gas at a quarter a gallon, about 72-73 i think it was.

[mawilson 2,133]

Back in the day, things were made to last. Now, so many things are made cheaply, with built in obsolescence.

That's true. Making things to last goes against the profit motive - companies have figured out that a better way to make money is to make you buy the same things over and over again.

[I AM NOT THAT GUY 5,715]

In a previous life I owned three cars and a huge RV. But I only ever had one car payment at a time.

How many actually ran? Did you find another one every time you cut the grass?

[luckytxn 2,265]

i remember gas at a quarter a gallon, about 72-73 i think it was.

Yes it was.

[I AM NOT THAT GUY 5,715]

i remember gas at a quarter a gallon, about 72-73 i think it was.

I remember Terrible Herbst selling gas for 19.9 cents/gal and GEMCO selling it for 24.9 cents/gal.

Edited October 18, 2011 by Crusty Old Perv

[Guinness 3]

Boomer. They are weak-minded spoiled little whining commies that don't want to take responsibility for living useless lives. They are dangerous. They can be manipulated by their evil demonic overlords. They should be beat with clubs and pepper sprayed at every opportunity.

COP

We need to have a pint someday, think we could solve all the problems in the world, in one session ;-)

[Sofiyya 1,687]

I remember Terrible Herbst selling gas for 19.9 cents/gal and GEMCO selling it for 24.9 cents/gal.

I remember GEMCO. Their prices were nearly as low as the PX.

[Mr. Big Dog 10,747]

It's close. In the UK, the top 1% control almost 25% of the nation's wealth, top 10% control over half of personal wealth.

That's not close to where we are. Here, the top 1% owns some 40% of the nation's wealth and the top 5% controls about 2/3.

[mawilson 2,133]

That's not close to where we are. Here, the top 1% owns some 40% of the nation's wealth and the top 5% controls about 2/3.

Give them time, they'll catch up. The trend is our friend.

[Mr. Big Dog 10,747]

Give them time, they'll catch up. The trend is our friend.

It's a ruinous trend. We're right back where we were in the earlier years of the last century. That worked out well then, didn't it?

[Usui Takumi 1,562]

That's not close to where we are. Here, the top 1% owns some 40% of the nation's wealth and the top 5% controls about 2/3.

43% and 72% per this chart:

http://theunderstatement.com/post/3999331289/us-wealth-distribution-visualized

Again, its not about wealth redistribution per say. Any economist will look at these numbers and realize that if the trend continues the fundamentals of our economy will no longer function. You can already see it in a way. Luxury sales have been up for nearly 2 years, but they aren't a large enough percentage of sales to actually drive the economy.

Don't get me wrong, you need income inequality to create a healthy diverse economy, but the scales are tipped. We need to address the mechanics of the scale, not just grab the wealth and rebalance it.

[mawilson 2,133]

It's a ruinous trend. We're right back where we were in the earlier years of the last century. That worked out well then, didn't it?

It's a global trend nonetheless.