[Milsurplus] Inflation Memories

[Mike Morrow]

>No, not numerically. But a VW cost under $1000 in the late 60s
>and costs over $20,000 today. Inflation is at least 20x since WW II.

Having priced new VWs in 1970 (as a new college student), I well remember that the minimum price for a new VW Beetle was closer to $2500 back then.  A 1970 dollar is worth $5.37 in 2007.  Way too rich for me!

So, inflation hasn't been quite that bad.  Perform the calcs at:

http://www.bls.gov/cpi/  Click on "Inflation Calculator."

One 1941 dollar is worth $14.17 today.  One 1945 dollar is worth $11.58 today.

I get a kick seeing those "low priced" RCA AVR-15 beacon receiver prices in 1940 radio magazines.  They sold for $100, or about $1500 today.  Likewise, there were all those small battery-pack post-WWII beacon band aircraft radios that were so popular at $30...that's more than $300 today.  Popular "full-featured" light aircraft radios like the 1946 GE AS-1B (10w 3105 kc transmitter, with beacon/BC band receiver) were around $200, or about $2000 in 2007 dollars.

You don't have to all that old to appreciate the effects of inflation.  I had an entry-level high school job working for Safeway Foods in 1970 that paid $1.80/hour.  That equates to $9.67/hour today!  

What really hurt was Carter's severe inflation and anti-military programs of the late 1970s.  I remember a year under Carter in which inflation was nearly 14 percent, yet no cost of living adjustment was made to the wages of military personnel.  Many of use left the service because we couldn't afford to stay in...guess that's just what Jimmie wanted anyway.

Mike / KK5F