By: Hector Quintanilla
What are things we didn’t learn in school, but we should?
Pay attention, you will NEVER learn this in school.
The economics of work.
Do the math:
- Minimum wage in 1970: $2.10/hr
- Price of 1 oz of gold in 1970: $37
Back then, 17.62 minimum-wage-hours were needed to buy 1 oz of gold. ($37 / $2.10)
- Minimum wage (Texas): $7.25/hr.
- Price of 1 oz of gold: $1,800 (approx.)
— —> Today, a minimum wage worker needs to work 248.27 hours to afford 1 oz of gold. ($1,800 / $7.25)
THAT’S 14X MORE!
In today’s dollars, a minimum wage worker would need to make: $7.25 x 14 = $101.50/hr. to have the equivalent purchase power of 50 years ago.
When will this trend stop?
The value of labor will continue to be depreciated.
Stop working for money — instead, invest your time building assets that make money for you.
Invest In Crypto Currency…Go Here: https://www.coinbase.com/join/hender_m6r