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Wednesday, September 29, 2010

Prices- 1970 v 2010

(Video:  1970 Salem Cigarettes commercial)

Most experts believe the beginning of the fall of the standard of living for the middle class began in 1971 when Nixon took the nation off the gold standard due to the inability of the Treasury to keep funding the Vietnam war.   At that time it was commonplace for one breadwinner to be able to support a family of four by working one 40hr week job.  For the vast majority of people, that is no longer the case.  So let's hop into the good ole' time machine-- back to 1970, when everything was 'groovy' and 'far out'...

Population:     205,052,174
Life expectancy:     70.8 years

High:     842
Low:     669

Federal spending:     $195.65 billion
Federal debt:     $380.9 billion
Inflation:     6.5%
Unemployment:     3.5%

Ave. Cost of a new home:     $26,600.00

Ave. Cost of a new car:     $ 3,900

Median Household Income:     $8,734.00

Cost of a first-class stamp:     $0.06

Cost of a gallon of regular gas:     $0.36

Cost of a dozen eggs:     $0.62

Cost of a gallon of Milk:     $1.15

Miracle Whip   $1.09

14 cu foot Fridge Freezer Westinghouse    $288

Olympia adding machine (basic calculator)   $79.95

Tape Cassette recorder  $29.88

RCA 23 Inch Color Television  $368.88

 Car 8 Track Stereo Tape Player    $38.99

CB Radio    $147.00

Bunk Beds  $99.00 

Grandfather Clock    $198.99

Ortho Firm Mattress and Box Springs    $69.50

Recliner Chair    $77.00

King Size Bean Bag Chair    $19.99

Porcelain Kitchen Sink    $9.88

Quartz Alarm Clock   $12.97

Juice Blender    $11.88

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