Are Lower Prices Of Scrap Better Or Worse???

Originally Posted by jord0690

My grandfather owned the last Texaco in canada, my dad worked there in the early 70s. The record for most gas in a vehicle in the history of the station, was 12 bucks... He set the record, and everyone at the station that day was circled around the pump watching. (so the story goes) Those where the days by the sounds of it.

I also remember working that same time frame - eight hour day got $22.80 ($2.85/hr). So, where are we, really:

1971 - minimum wage $2.85 & gallon of gas $0.32 or you could buy 8.9 gallons of gas for one hour minimum wage.
2013 - federal minimum wage $7.25 & gallon of gas $3.45 or 2.1 gallons of gas for one hour @ minimum wage.



So, the US dollar is worth less than a fourth of what it was 42 years ago. So, in answer to the original question, I'd have to agree that lower prices for scrap metal are "better" under the premise that lower prices for scrap would also coincide with lower prices in general and stronger buying power for the dollar. A further result would be a stronger world economy (anyone for macro-economics?). However, I'm not ready to cash in my hoard in the hopes that'll lower scrap metal prices and save the world.