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| 07:43 PM | ||
Cost Of Living 1972-gas 55cents a gallon-cost of brand new home $27k-Mickey Mouse Gumball Machine Price: $1.99-Easy Bake Oven $10.99 | |
| Anonymous Coward User ID: 533330  United States05/25/2012 01:59 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward (OP) User ID: 533330 United States05/25/2012 02:32 PM Report Abusive Post Report Copyright Violation | Re: Cost Of Living 1972-gas 55cents a gallon-cost of brand new home $27k-Mickey Mouse Gumball Machine Price: $1.99-Easy Bake Oven $10.99 Dec 9, 1921: GM engineers discover that leaded gas reduces "knock" in auto engines On this day, a young engineer at General Motors named Thomas Midgeley Jr. discovers that when he adds a compound called tetraethyl lead (TEL) to gasoline, he eliminates the unpleasant noises (known as "knock" or "pinging") that internal-combustion engines make when they run. Midgeley could scarcely have imagined the consequences of his discovery: For more than five decades, oil companies would saturate the gasoline they sold with lead--a deadly poison. In 1911, a scientist named Charles Kettering, Midgeley's boss at GM, invented an electric ignition system for internal-combustion cars that made their old-fashioned hand-cranked starters obsolete. Now, driving a gas-fueled auto was no trouble at all. Unfortunately, as more and more people bought GM cars, more and more people noticed a problem: When they heated up, their engines made an alarming racket, banging and clattering as though their metal parts were loose under the hood. The problem, Kettering and Midgeley eventually figured out, was that ordinary gasoline was much too explosive for spark-ignited car engines: that is, what we now call its octane (a measure of its resistance to detonation) was too low. To raise the fuel's octane level and make it less prone to detonation and knocking, Midgeley wrote later, he mixed it with almost anything he could think of, from "melted butter and camphor to ethyl acetate and aluminum chloride...[but] most of these had [link to www.history.com] |
| Anonymous Coward (OP) User ID: 533330 United States05/25/2012 02:36 PM Report Abusive Post Report Copyright Violation | Re: Cost Of Living 1972-gas 55cents a gallon-cost of brand new home $27k-Mickey Mouse Gumball Machine Price: $1.99-Easy Bake Oven $10.99 Oh and dont u remember this one?? hehe 1972 Pulsar watch Price: $2,100. Equivalent today: $11,100 With its 18-karat gold case was the world's first all-electronic digital watch and the first to use an LED digital display. A button was pressed to display the time. PHOTO HERE> [link to thecostofliving.com] |
| Anonymous Coward (OP) User ID: 533330 United States05/25/2012 02:39 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 8788578 United States05/25/2012 02:40 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward (OP) User ID: 533330 United States05/25/2012 02:42 PM Report Abusive Post Report Copyright Violation | Re: Cost Of Living 1972-gas 55cents a gallon-cost of brand new home $27k-Mickey Mouse Gumball Machine Price: $1.99-Easy Bake Oven $10.99 As a comparison of the cost of computer storage, the first gigabyte storage from IBM - which sold in thousands - against flash memory of today. The first gigabyte desktop hard dives did not appear until 1994 and cost around $1000 1956 IBM 305 RAMAC: 5MB of portable memory (with a fork lift truck). Cost: $50,000 - equivalent to £400,000 in 2010 dollars Expets say that it will only be a few years before hard disks with moving parts are completely replaced with solid state drives Nanotechnology - in the near future we may well see advances that make flash memory seem bulky LOOK AT THE PHOTO [link to thecostofliving.com] 1956 IBM 305 RAMAC: 5MB of portable memory (with a fork lift truck). Cost: $50,000 - equivalent to £400,000 in 2010 dollars |
| Anonymous Coward User ID: 15827957 United States05/25/2012 02:47 PM Report Abusive Post Report Copyright Violation | |
Quagmire
 User ID: 7089700 United States05/25/2012 02:54 PM Report Abusive Post Report Copyright Violation | Re: Cost Of Living 1972-gas 55cents a gallon-cost of brand new home $27k-Mickey Mouse Gumball Machine Price: $1.99-Easy Bake Oven $10.99 So that's an increase in prices of about 5 times from then until now. According to the link below, the median household income has increased comparably since then. If you believe all the stats then it's pretty much a wash. [link to www.davemanuel.com] Edit: Meh, looks like some of you beat me to it while I was researching. Last Edited by Quagmire on 05/25/2012 02:55 PM |
| Anonymous Coward (OP) User ID: 533330 United States05/25/2012 03:07 PM Report Abusive Post Report Copyright Violation | Re: Cost Of Living 1972-gas 55cents a gallon-cost of brand new home $27k-Mickey Mouse Gumball Machine Price: $1.99-Easy Bake Oven $10.99 So that's an increase in prices of about 5 times from then until now. According to the link below, the median household income has increased comparably since then. If you believe all the stats then it's pretty much a wash. Quoting: Quagmire [link to www.davemanuel.com] Edit: Meh, looks like some of you beat me to it while I was researching. Well in some cases, but look at the size of that ibm pc it had 5mb of storage but was the size of a truck and cost $50,000, now a 8GB is size of a stamp and $10 bux. A 19 inch b&w tv was $200 Now a 19 inch color tv is $75 Gas was 33 cents a gallon then and required much more intense labor to get it compared to today with all the computer controlled equip, Yet that 33 cents a gallon is now $4 a gallon |
| Anonymous Coward User ID: 2228679 United States05/25/2012 03:20 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward (OP) User ID: 533330 United States05/25/2012 10:32 PM Report Abusive Post Report Copyright Violation | Re: Cost Of Living 1972-gas 55cents a gallon-cost of brand new home $27k-Mickey Mouse Gumball Machine Price: $1.99-Easy Bake Oven $10.99 The average house cost $27,600 Quoting: Anonymous Coward 533330 Equivalent today: $144,300 The average car cost $3,520 Equivalent today: $18,404 The average wage was $7,134 Equivalent today: $37,298 thats the loss of the dollars value by inflation. Someone kept the difference, inflation is the silent tax sad |
| Anonymous Coward User ID: 1488600 United States05/25/2012 11:37 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 14772727 United States05/25/2012 11:42 PM Report Abusive Post Report Copyright Violation | |
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