“The free market punishes irresponsibility. Government rewards it."
-Harry Browne
Wednesday, December 30, 2009
Tuesday, December 15, 2009
Christmas Shopping, Stereo System: 1958 v. 2009
Christmas Shopping, Stereo System: 1958 v. 2009: " 
In 1958, the “best stereo sound equipment' Sears had to offer was advertised for sale in its Christmas catalog for $84.95 (pictured on left above), boasting that “You’ll be amazed at the ‘living sound’ you’ll hear on this newest development in portable phonographs. Four tubes per rectifier. Hear every note, every shading of tone.”
I doubt anybody today would be too amazed at the sound quality of that 1958 state-of-the-art stereo equipment, and nobody would trade his or her iPod for that system, especially considering that the 'time cost' of today’s iPod (12.51 hours of work at today’s average hourly manufacturing wage of $18.59 to earn enough income [ignoring taxes] to purchase a $229.99 iPod at Wal-Mart ) is almost 71 percent cheaper than Sears’ best stereo equipment in 1958 for (42.9 hours of work at the average wage of $1.98 per hour to earn enough income to purchase the $84.95 stereo in 1958).
Read more here at the Enterprise Blog.
"
Steve: Not to mention the iPod is mobile and holds a lot more music.
I doubt anybody today would be too amazed at the sound quality of that 1958 state-of-the-art stereo equipment, and nobody would trade his or her iPod for that system, especially considering that the 'time cost' of today’s iPod (12.51 hours of work at today’s average hourly manufacturing wage of $18.59 to earn enough income [ignoring taxes] to purchase a $229.99 iPod at Wal-Mart ) is almost 71 percent cheaper than Sears’ best stereo equipment in 1958 for (42.9 hours of work at the average wage of $1.98 per hour to earn enough income to purchase the $84.95 stereo in 1958).
Read more here at the Enterprise Blog.
Steve: Not to mention the iPod is mobile and holds a lot more music.
Friday, December 4, 2009
Economic Alert
Unemployment Rate (United States) {US} OBSERVATION PERIOD: NOV (Monthly)
ACTUAL : 10.0%
PRIOR : 10.2%
REVISED : - -
SURVEY : 10.2% (Mean: 10.2%, High: 10.4%, Low: 9.9%)
Change in Nonfarm Payrolls (United States) {US} OBSERVATION PERIOD: NOV (Monthly)
ACTUAL : -11K
PRIOR : -190K
REVISED : -111K
SURVEY : -125K (Mean: -121K, High: -30K, Low: -185K)
Average Weekly Hours (United States) {US} OBSERVATION PERIOD: NOV (Monthly)
ACTUAL : 33.2
PRIOR : 33.0
REVISED : - -
SURVEY : 33.1 (Mean: 33.1, High: 33.1, Low: 33.0)
Unemployment rate falls to 10% in November. Nonfarm payrolls dropped by 11,000 in November, a number not seen since December 2007. Also, September and October numbers were revised lower by a total of 159,000. Economist expected a loss of 125,000 jobs in November. Futures spiked after the report.
ACTUAL : 10.0%
PRIOR : 10.2%
REVISED : - -
SURVEY : 10.2% (Mean: 10.2%, High: 10.4%, Low: 9.9%)
Change in Nonfarm Payrolls (United States) {US} OBSERVATION PERIOD: NOV (Monthly)
ACTUAL : -11K
PRIOR : -190K
REVISED : -111K
SURVEY : -125K (Mean: -121K, High: -30K, Low: -185K)
Average Weekly Hours (United States) {US} OBSERVATION PERIOD: NOV (Monthly)
ACTUAL : 33.2
PRIOR : 33.0
REVISED : - -
SURVEY : 33.1 (Mean: 33.1, High: 33.1, Low: 33.0)
Unemployment rate falls to 10% in November. Nonfarm payrolls dropped by 11,000 in November, a number not seen since December 2007. Also, September and October numbers were revised lower by a total of 159,000. Economist expected a loss of 125,000 jobs in November. Futures spiked after the report.