rofl at car prices or everything prices.

[dullard]

I can't work out from what it says in those links as to whether those are real or nominal figures, i.e. do they account for inflation. If they don't then I don't see that it tells me anything useful.

I specifically linked the nominal figures (without inflation) since that is how the thread was going (separate inflation and wage topics). There are plenty of real (inflation adjusted) data sets too. They show gains, albeit slow gains over the 8 years. https://fred.stlouisfed.org/series/LES1252881600Q

Before that, there was nada. Inflation adjusted (real) wages were essentially stagnant for that whole chart from 1979 to 2014.

 

[BoomerD]

Looking up 'power consumption of a freezer' I find



So that's about £100 a year at current rates (so $120 if you just use the bank exchange rate, but I'm sure more if you take into account relative income levels). Which is better than I thought, to be honest, I have to admit, but still, I currently have been thinking of ways I could do without using the fridge, as that and the computer make up most of my electric bill (unit charges have more than quadrupled in the last couple of years).

Wow. 300 kwh would run me about $27.

 

[nakedfrog]

To give you an idea how insanely high used cars prices are, I bought both my wife's car and my car in 2019, and they're both worth $6000 more than we paid with 60K more miles on them.

That's just stupid.

You got me curious, I looked up the KBB on the 2015 VW I bought in May of 2020, the trade-in value is also more than I paid for it when I bought it.

 

[IronWing]

Closest comparable model to my 2018 Buick wagon would be ~30% more today. KBB estimate for trade-in and private sales is about 60% of new cost though I think KBB tends to overestimate prices.

 

[VashHT]

My 2016 Mazda3 is worth like $9k less than I bought it for supposedly, practically half the cost I bought it for new.

 

[Red Squirrel]

Peak rate here is 15.1c/kwh while off peak is 7.4. So 300kwh would be roughly $33 here.

But I just noticed they have a new plan now where you can get a ultra low night rate of 2.4c/kwh. But it's only between 11pm and 7am and on peak is 24c between 4pm and 9pm.

Could maybe work in summer once I setup my solar automation though but in winter it would not since it gets dark at like 4pm. Although the high peak period is between 4-9 only so I could run off batteries for that time and top them up at 11. Something to consider.

Current plan:




New plan:

 

[Dr. Detroit]

Wild how massive transfers of wealth to the upper class and it's nbd, but workers getting a deserved modest share off profits and it's the apocalypse.

I noted it will fuel inflation, not that its the apocalypse.

All the seniors who are now getting 4.5-5.5% interest on their savings are fueling inflation as well as they ramp up the spending.

 

[repoman0]

Peak rate here is 15.1c/kwh while off peak is 7.4. So it would be roughly $8 per day if I calculated that right.

If this is about the freezer, then no, that is not right

 

[pmv]

You guys pay a lot for power. Your numbers come out to $0.40/kWh. My state (Massachusetts) has one of the highest electricity rates in the US and it’s still only about $0.25-0.30/kWh. I’ve been happy about my meager rooftop solar capacity lately though, saves me a couple thousand dollars annually and the bill is usually negative for May and June.

I actually understated it. It's 31p per unit (kWh), but I forgot there's 5% sales tax on top of that, so it would be £105 a year. And then there's the "standing charge" just for having a power connection at all (which isn't directly relevant to the calculation as it's charged regardless of how much power you use).

 

[WilliamM2]

Freezers cost a lot of money to run.
Tinned food you can stock up on, but everything else tends to go off, unless you spend a lot of money on electricity running a fridge (yet alone a freezer).

So you keep your refridgerator/freezer off? That's ridiculous.

You know, the fuller they are, the less it costs to run...

 

[Red Squirrel]

If this is about the freezer, then no, that is not right

I was half paying attention to Boomer's post and calculated something totally different. That's what happens when I'm too focused on work instead of neffing.

Yeah freezer is actually fairly cheap to run on it's own, if I recall it was under 100wh in average when I put a killowatt on mine.

Off grid people often use a chest freezer as a fridge for that reason. Just need to modify the cut in/out temp so it's a fridge.

 

[[DHT]Osiris]

You know, the fuller they are, the less it costs to run...

Kill your neighbor, stuff them in the freezer, sell their cars to fight inflation.

 

[pmv]

So you keep your refridgerator/freezer off? That's ridiculous.

Not yet, but I'm thinking about the idea. If gas/electricity prices don't come down soon and if I can figure out a way to get by without it. I've run out of ways to keep the bills down (already have all LED bulbs, cooker and water heating is gas...).

I mean, it's either the fridge, or not using the PC, so...

You aren't wrong about people struggling financially. Many are. However, the situation really depends on how your expenses line up with your income.

Lets stick with the 40% number for raises and lets just say inflation was 40% (it was a bit less, but well just go with that) over the time period of concern.

• Case 1: You made $50k, your expenses were $50k. You live paycheck to paycheck. Suppose you got a 40% raise to $70k and your expenses went up 40% to $70k. You are still living paycheck to paycheck.

• Case 2: You made $40k, your expenses were $50k. You were really struggling, falling behind by $10k/year, going into credit card debt. Suppose you got a 40% raise to $56k and your expenses went up 40% to $70k. Now, not only do you have that decade of debt piling up, but now you are short even more: now it is up to $14k/year. These people are the ones you might be thinking of. They have been left behind in the economy, even if they did get a ~40% increase.

• Case 3: You are well off. You made $150k, your expenses were $100k. You could save, put a lot into retirement accounts, invest, or pay down $50k of debts (mortgage, car, student loans). But now with a 40% raise you make $210k. If your expenses also went up 40% to $140k, now you have $70k extra per year. You are far better off in this situation.

Another point is that inflation isn't the same for all groups. It varies depending on your income, because poorer people spend a far higher proportion of that income on the basics. As food and power prices have risen much faster than, say, stockbrokers fees or air travel, the poor have faced a much higher inflation rate than the rich.

 

[highland145]

 

[Fritzo]

Not yet, but I'm thinking about the idea. If gas/electricity prices don't come down soon and if I can figure out a way to get by without it. I've run out of ways to keep the bills down (already have all LED bulbs, cooker and water heating is gas...).

I mean, it's either the fridge, or not using the PC, so...





Another point is that inflation isn't the same for all groups. It varies depending on your income, because poorer people spend a far higher proportion of that income on the basics. As food and power prices have risen much faster than, say, stockbrokers fees or air travel, the poor have faced a much higher inflation rate than the rich.

I have a hot tub, a pool, and run a dehumidifier in our basement. We had a $400 electric bill last month- normal is around $270 for the summer. Thinking about solar panels

 

[Red Squirrel]

I'm really starting to consider that new tier plan I just discovered with the ultra low night cost. As is it won't make a difference for me, but if I can automate shifting loads to solar based on battery voltage during the day and shift back to hydro at night I could make use of that package. The hard part is that the high peak is between 4pm and 9pm and it's pitch black then for a good part of the year, so I would want good batteries to keep stuff going until 11pm then the batteries would charge.

Seems like a good excuse for a UPS upgrade and home automation overhaul.