XeqT Monetary Freedom (∞/21M) + (₿+⚡) = 🧡 on Nostr: Here's WHY most people today are much poorer, despite working the same or even more ...
Here's WHY most people today are much poorer, despite working the same or even more hours than before.
In 1971, the median family income in the United States was $10,290.
Before the Nixon Shock on August 15, 1971, the price of gold was fixed at $35 per ounce.
This means the median family income in 1971 was equivalent to approximately 294 ounces of gold.
In 2023, the median family income in the United States was $80,610.
The price of Gold on August 15, 2023 was ~$1,900 per ounce.
So in gold terms, the median family income in the United States, in 2023, was ~42.43 ounces of gold.
That's a ~85.57% drop over 52 years.
Despite working the same or even more hours than people did 52 years ago, families are paid much, MUCH less for their efforts and productivity.
Wages have risen, in nominal terms, but not in real terms.
You are being robbed and have been for decades.
In 1971, the median family income in the United States was $10,290.
Before the Nixon Shock on August 15, 1971, the price of gold was fixed at $35 per ounce.
This means the median family income in 1971 was equivalent to approximately 294 ounces of gold.
In 2023, the median family income in the United States was $80,610.
The price of Gold on August 15, 2023 was ~$1,900 per ounce.
So in gold terms, the median family income in the United States, in 2023, was ~42.43 ounces of gold.
That's a ~85.57% drop over 52 years.
Despite working the same or even more hours than people did 52 years ago, families are paid much, MUCH less for their efforts and productivity.
Wages have risen, in nominal terms, but not in real terms.
You are being robbed and have been for decades.