McDonald's 1973 Menu Prices- Inflation!
I've been seeing this picture of a McDonald's menu, that is supposedly from 1973, circulating around social media, for quite some time now, and I started thinking about inflation.
US 1973 minimum wage was $1.60/hr.
According to dollartimes.com, $1.60/hr in 1973 would translate to a $9.09 minimum wage in 2017.
That's pretty scary stuff to see purchasing power decline like that over 44 years. Also scary, to realize at these prices, how fat I'd get from how many cheap quarter pounders I'd eat.
Why has purchasing power on the minimum wage declined to that degree in 44 years?
August 15, 1971.
Without writing a novel, I believe it's because of President Tricky Dick Nixon's move to take the US Dollar off the gold standard.
I've seen evidence, through dozens of charts, that US inflation has gone through the roof since 1971. I'm not going to bother placing one of those charts in this post. It's just too painful to look at.
I have spoken to many Americans over the years, thanks to social media, about the state of American affairs. One common complaint from them, is the diminishing American middle class. No question, the removal of the gold standard is a huge factor on why the American middle class has diminished over the last half century.
Back in 1973, McDonald's burgers were still made with real meat!
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STOPThis post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond
Nice post. Now following
if the powers that be want one world government, army and currency to centralize power. There is no place for a super power...... so they are wrecking the US from the inside and are almost finished.
Can't help but wonder if this is some sort of plan sometimes.