To Michael’s point that people aren’t really getting poorer, that may be true based on raw numbers but it’s also true that education and home prices are way more expensive now than they were 50 years ago. It doesn’t matter if wages are beating inflation (if they even are) or GDP is skyrocketing. If people can’t afford the basics then we are doing worse than before
To Michael’s point that people aren’t really getting poorer, that may be true based on raw numbers but it’s also true that education and home prices are way more expensive now than they were 50 years ago. It doesn’t matter if wages are beating inflation (if they even are) or GDP is skyrocketing. If people can’t afford the basics then we are doing worse than before
If that's household income, the median in 2022 was 77000, so the delineations seem quite skewed. I wouldn't call 35000 a middle income household. I know people making 70,000 who are scraping by. It seems a little like a message is being forced through the data.
Globalism is the scapegoat for this, however. Yes, there are prominent examples of offshoring manufacturing and parts of the country that remain economically depressed as a result of this but specific to the issue you bring up, the main cause is inflation, debt and money printing.
To Michael’s point that people aren’t really getting poorer, that may be true based on raw numbers but it’s also true that education and home prices are way more expensive now than they were 50 years ago. It doesn’t matter if wages are beating inflation (if they even are) or GDP is skyrocketing. If people can’t afford the basics then we are doing worse than before
Education and home prices have been fucked by government.
https://x.com/emmma_camp_/status/1909999578025255391
If that's household income, the median in 2022 was 77000, so the delineations seem quite skewed. I wouldn't call 35000 a middle income household. I know people making 70,000 who are scraping by. It seems a little like a message is being forced through the data.
Globalism is the scapegoat for this, however. Yes, there are prominent examples of offshoring manufacturing and parts of the country that remain economically depressed as a result of this but specific to the issue you bring up, the main cause is inflation, debt and money printing.
https://x.com/jmhorp/status/1911224957029253401
Wages are out pacing inflation. Workers today earn about 45% more than in 1992 (inflation adjusted with PCEPI).
Housing and education are policy caused problems.