# Add things up .............................



## mmcmdl (Jan 6, 2022)

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						Inflation Calculator | Find US Dollar's Value from 1913-2022
					

Easily calculate how the buying power of the US dollar has changed from 1913 to 2022. Get inflation rates and US inflation news.




					www.usinflationcalculator.com
				




Just found this interesting.


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## savarin (Jan 6, 2022)

so interesting I had to look at ours




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						Inflation Calculator | RBA
					






					www.rba.gov.au
				



our money inflated by 6157.8 per cent
bloody hell thats a lot


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## John O (Jan 6, 2022)

Wow, I overpaid big time for my house. Calculator shows I should have paid 1/4 the price.


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## finsruskw (Jan 6, 2022)

That's about right!
In 1974 I bought a new Dodge D300 dually club cab and chassis for around $7500
Today....$42000


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## Janderso (Jan 6, 2022)

finsruskw said:


> That's about right!
> In 1974 I bought a new Dodge D300 dually club cab and chassis for around $7500
> Today....$42000


Must be a stripped down model with a gas engine?


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## rabler (Jan 6, 2022)

My 25x48  1967 lathe new cost $275,000 in today's dollars.


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## rabler (Jan 6, 2022)

So when are we going to give up on the penny?


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## finsruskw (Jan 6, 2022)

Janderso said:


> Must be a stripped down model with a gas engine?


I don't know
But my new 2015 Ram 3500 laramie longhorn w/a Cummins was 53K and change.
The '74 is a 318 truck w/4speed w/Adventurer trim pkg & 2 tone paint.
My youngest son still has it.


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## JRaut (Jan 6, 2022)

My 10" Logan (Wards) hobby lathe cost about $175 new in 1943 (w/o any accessories).

That's about $2,800 bucks in today's dollars.

A similarly-sized PM lathe starts at $2,900, so seems like prices of hobby-sized machines reflect the inflation rate pretty darn well.


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## RJSakowski (Jan 6, 2022)

The insidious nature of inflation is that it is in a feedback loop.  Costs keep using so we insist that the minimum wage must go up.  People who are working at jobs,requiring some degree of skill or knowledge argue that their contribution is worth more than someone flipping burgers , and rightfully so, and their wages rise.  Witness, the record number of people leaving their jobs last month.  And so it goes up the line. Here is an interesting web site that gives average wages by occupation.  https://www.bls.gov/oes/2020/may/oes_nat.htm#45-0000

With rising labor costs, the cost of manufacturing goes up and retail prices follow.  And the people making the new minimum wage can't make ends meet.  So the spiral starts again. This wouldn't be a problem as the system would just readjust but people on fixed incomes such as retirees don't get an adjustment to their assets.  Unless you have your assets invested in risky products, your annual return is minimal so a 5% inflation rate means a 5%, or close, reduction in the value of your assets.

Not to say that there aren't grievances.  Company executives with tens of millions in compensation packages is obscene.  The idea that your organization has to have the best of the best at any cost has pushed this concept.  The same is true for professional sports.  And not to say that vendors don't take advantage of temporary situations to increase prices.  During wartime, this is called profiteering and can carry some stiff penalties.  For a drug company to increase the cost of insulin by a double digit factor when for many it is a necessary life saver regardless of financial circumstances is also obscene.

IMO, compensation should be based on a number of factors.  !. skill set requirements, 2. knowledge and training requirements, 3. personal risk and safety, and 4. responsibility. 

Additionally, throughout history, there has never been a requirement for society to provide a comfortable standard of living for its citizens.  Even communism, with its edict of "each according to their needs" didn't.  A hundred years ago, multiple families occupied a couple of rooms in a cold water flat.   Now, we complain when people aren't able to buy a new pair of Nike's for their kids.   When there are people in this world where they haven't got water to drink or a roof over their heads.  We don't really have a clue as to what real poverty is.

Just my 2 cents.


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## jwmay (Jan 6, 2022)

I already forgot what this thread was about, but giving people more money doesn't seem to help. Jmo
If I can make 15 an hour flipping burgers, the value of my degree just went down by the difference. I can't quite square that.


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## projectnut (Jan 6, 2022)

It's not hard to figure out why many of the machine tool builders no longer exist.  When I purchased my Sanford MG (6"x 12") surface grinder it came with a bunch of paperwork.  One piece was the original price quote from the vendor.  The list price was $6,100.00 for the bare machine.  Another $300.00 for the base cabinet, and $600.00 for table stops.  That would be slightly less than $71,300.00 in today's money.  Today most surface grinders of this size sell for between $5,000.00 and $12,000.00


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## mmcmdl (Jan 6, 2022)

rabler said:


> My 25x48 1967 lathe new cost $275,000 in today's dollars.


Wanna sell it ?


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## rabler (Jan 6, 2022)

mmcmdl said:


> Wanna sell it ?


Sure, I'll give you a real deal, 1/10 of the that figure


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## finsruskw (Jan 6, 2022)

Any idea what a SB 9A would have sold for new in '47??


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## Aaron_W (Jan 6, 2022)

finsruskw said:


> Any idea what a SB 9A would have sold for new in '47??



$272.20 to $369.70 ($3392-4611) depending on the options selected (8 or 16 speeds, bed length etc). The tool room version was $486.70 to $516.70 ($6057-6440). 

The 9C ran about $100 less than the 9A (about $1200 today).

Vintage machinery has a lot of the old catalogs available.

South Bend Lathe 1947 sales flyer.

http://vintagemachinery.org/pubs/1617/5684.pdf


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## davidpbest (Jan 7, 2022)

Have you put the cost of marriage in that calc?


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## mmcmdl (Jan 7, 2022)

Yes , this showed up .


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