New stonetoss
(twitter.com)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (31)
sorted by:
Minimum wage in 1960 was $1/hour. The quarters were made of silver. The melt value of a silver quarter today is ~$12.50. The equivalent minimum wage in the 1960 was thus $50/hour.
This also shows just how fucked our inflation metrics are.
There's no reality in which your currency is separated from any tangible real life value and still maintains its integrity. Fiat was always a scam.
Something something rumpelstiltskin.
Oy vey!!!
getting rid of the gold standard did that. everyone needs to think about money entirely differently than they currently do. Money now is a depreciating asset.
A pound of sirloin steak was $0.62 in 1960. Today it is $17.09 as of April 2026.
Just over a half hours work. That would imply a minimum wage of at least $34. Still way higher than anything the official stats say.
You also have to factor that the 1960s meat was local butcher and now we’re importing meat globally. If anything it’s even worse.