Measuring Prices in Hours Worked – Epi-3775
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Recently I posted and advertisement for guns on Facebook and X it was from 1972. Featuring things like a Remington 1100 for 144 dollars and a Marlin 30-30 for 80 bucks. A few people who I do applaud for doing the math pointed out that things like the Mossberg pump at 64 bucks was actually a little more expensive in 72 vs. today if measured against CPI inflation.
Again I applaud anyone for doing math but OF COURSE IT TRACKS WITH INFLATION. Yes, inflation tracks with inflation, shocking! Seriously what actually matters is real cost, not dollar cost. The dollar is a variable inch on a ruler so when you only measure with dollars you get bullshit results. We need something constant that the government and banks have yet to successfully alter. Like time.
See once you use hours worked to purchase as a metric it all changes. It actually mitigates the gun prices to only a 15-20% increase but that is only due to technology, economy of scale and manufacturing efficiency. In other words the real cost over 50 odd years should have gone DOWN not up.
Today we will break down some real world expenses this way and find the truth of the matter. We will use a ruler with fixed inches not one where they shrink across time and yet 12 still make a foot of length. The time you put into acquiring things is a real cost, one that can’t be manipulated with a computer entry.
Join Me Today to Discuss…
- The real metric of the cost of living must be measured in time, the one commodity you can’t get back
- Why we must use median wages here, not minimum nor even average
- Some items that we can measure in time worked vs. dollars
- And remember 1970 was not a good time in America economically, if you did this with 1955 it only gets worse
- Ground beef
- 1970 – 9.4 minutes of work
- 2025 – 14.8 minutes of work
- Increase – 58% increase
- New Car Avg
- 1970 – 846 hours
- 2025 – 1477 hours
- Increase – 28%
- New House
- 1970 – 131 weeks
- 2025 – 323 weeks
- Increase – 147%
- 2 Bedroom Apartment
- 1970 – 25 hours a month
- 2025 – 51 hours a month
- Increase – 108%
- 4 years room, board, tuition book in college
- 1970 – 370 hours
- 2025 – 2956 hours
- Increase – 699%
- Also in 1970 90% paid for tuition in cash
- Today about 70% of grads leave with debt
- Ground beef
- What does this mean we should all be doing today
- Stack real assets not cash assets are assets if
- They can be sold relatively quickly for a known price
- They can be borrowed against creating tax free cash flow
- They are durable across time
- The provide future economic benefits
- Develop hard skills that are resistant to AI
- Electrical or Plumbing
- Metal work and welding
- Diagnostics mechanic and machine repair
- EMS Skills with direct response
- Artisan and craft work from things to foods and more
- Cosmetology work specifically hair care (high end)
- What else can you think of – Set your sights no lower than the top 20%, top 5% is better
- Drive down your cost of living across time
- Even if you can borrow against property quit often you shouldn’t with your residence
- Grow some of your own food or hunt and gather it, go in on group buys, etc.
- Use self directed or boutique education instead of college
- Create multiple streams of income even if you have a job, function stack
- The truth is sort of terrifying but we should be bold anyway
- There is no going back, only an eventual reset, we don’t know when, only that
- It is absolutely going to get worse before it gets better, waste must be shed, that hurts
- Entire industries and sectors will be gutted during shifts and elimination of waste
- The fuse was set in 1971, we are living in the end of an empire built on debt
- Yet more opportunity that ever exists today
- AI is not just a taker it is a giver to the wise user
- Platforms now link providers and consumers like never before
- There are many things computers can never do, a lot of what they can is not necessary
- Every shift has caused pain and eventually creates more opportunity
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- Stack real assets not cash assets are assets if
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Hi Jack. Just wanted to let you know my question about silver wasn’t implying you have a compromise. I was asking your opinion because it seems like everyone else who talks about it is compromised. And most of them seem to be either online dealers or coin shop owners, who would all be extremely invested in pushing metals and spinning the news of the day to do so.
I asked you because I trust you’ll give a straight response. Just ironic that JM was a sponsor of the day today.
Jack, Great Episode. You may want to check the percentage increase in price calculation on the new car.
New Car Avg 846 hrs 1477 hrs 846 to 1477 =28%
(1477?846)/846×100=74.54%