Egregoros

>"you know back in my day, sonny, gas was only 30 cents a gallon!"
>check inflation calculator
>roughly $3.06 in todays dollars
>"yeah thats just inflation."
>"yeah but it was only 30 cents, you know back then a can of soup was only a quarter and.."
>"that was over 60 years ago"
>"oh wow has it been that long?"

I swear boomers are physically incapable of understanding inflation, for them it's perpetually 1965.

has people's wealth kept step with inflation? Or is $3.06 a larger share of average Joe's earnings/savings than 30 cents was back in their day?

the federal minimum wage was $1.25, a decent condo downtown would've been about $150 bucks a month, with a bachelors degree you were pretty much guaranteed to find a job...