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Wed Feb 26, 2020, 02:24 PM

For anyone who believes the economy is in good shape

You might want to read this:


“The typical US male worker needs more than one year's salary to afford the typical costs of a family of four, according to a new report by the Manhattan Institute.

In 1985, it took him 30 weeks' pay to afford $13,227 in expenditures, versus needing 53 weeks' pay to afford $54,441 in 2018.

It's evidence of the dire state of the American middle class, which is struggling as living costs outpace wage increases.”



https://www.businessinsider.com/america-middle-class-living-expenses-family-of-four-2020-2

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Reply For anyone who believes the economy is in good shape (Original post)
AverageJoe Feb 26 OP
guillaumeb Feb 26 #1
BigmanPigman Feb 26 #3
guillaumeb Feb 26 #4
Newest Reality Feb 26 #2

Response to AverageJoe (Original post)

Wed Feb 26, 2020, 02:26 PM

1. The so-called booming economy is a myth that is promoted by the US corporate media.

If there were a booming economy, total indebtedness would not be so incredibly high, and wages would not have remained essentially stagnant since 1980.

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Response to guillaumeb (Reply #1)

Wed Feb 26, 2020, 06:09 PM

3. That was the first time I wrote to a US POTUS.

I was in college and the economy sucked....no Summer jobs anywhere. I wrote a nice, long letter asking him what he was going to do about it. I got back a form letter of BS which I promptly threw out.

My whole life I have been comparing my salaries and various jobs with the wonderful economies and benefits before the 70s. I am aware of the difference but most people my age are clueless. They have been thoroughly brainwashed since the 80s.

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Response to BigmanPigman (Reply #3)

Wed Feb 26, 2020, 06:19 PM

4. People normalize what they see around them.

Trump is on result of that normalization of the abnormal.

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Response to AverageJoe (Original post)

Wed Feb 26, 2020, 02:33 PM

2. That's clear to me...

It depends on which world you live in, so to speak.

I have asked people in the "average" category how the economy is booming for them by comparison to the past. While it is anecdotal, they lament about how much more they are hanging on a thread or losing ground. They also report that its the same for most people they know. I also have the same results.

The boom is being generalized, (as if a rising tide lifts all boats) and that is disingenuous and economic propaganda, to say the least. While some folks may be doing a little better here and there, the boom, (as in growth, better, more income, etc.) is really evident for those who are the recipients of its impact, and that is the upper-percentile, of course.

It might translate into being able to pay the rent AND buy food for some, but I suspect it also helps to detract from how much worse things are financially for the struggling masses. It also helps keep them quiet, as in, what are you complaining about, the economy is booming, you must be doing something wrong. That is management of the malcontents.

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