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no surprise. Urban Institute report finds that 63 percent of Americans have a higher ... rosier picture, with 84 percent surpassing their parents' income:
It is in especially good shape right now though. Very good job numbers. The U.S. unemployment rate may soon hit a 49-year low.
Most people alive today haven't seen numbers like this.
I’m not sure if you are aware but the economy’s direction good or bad are often cumulative. Jobs numbers and unemployment figures were fake and made up not that long ago either. It seems people’s memory is conveniently short.
"In the U.S., the world’s largest economy, lower taxes enacted by the Trump administration, a strong labor market and elevated confidence are helping cushion the pinch to shoppers from higher fuel expenses."
Now for some reality:
Since incomes aren't rising, where is the spending coming from?
Rising consumer and fiscal debt, of course! Another debt fueled bubble! Ya, live it up! And now a moment of silence for the poor bastards who have to work for living and don't have a $1M+ portfolio. Losers!
The only thing that counts is what it means to you.
I have no complaints and things have been pretty darn good for us and all the kids have excellent careers with great pay.
There is no such thing as it is bad or good across the board for everyone
no surprise. Urban Institute report finds that 63 percent of Americans have a higher ... rosier picture, with 84 percent surpassing their parents' income:
How does that square with wages not going up at all - and, in fact, buying power going down (and headed down further with higher interest rates, higher health care costs and higher energy prices)???
I think this thread is one of those example of "I can find an article to say exactly what I want"....
What "most Americans think" is total BS. As has been shown many times, 30% of Americans think they are in the top 10%. An amazing percentage of Americans think they will be wealthy someday - but they will not. No way.
Also, the 50 yo parent of a 25 yo was also downsized......and fired from middle management...and didn't have a pension, so comparison to when the American Dream was already over doesn't seem right!
False optimism is ignorance. It's every man for himself and you better start saving money in your 20's and making sure you have multiple career options....or else!
"The fall in those wages has alarmed some economists, who say paychecks should be getting fatter at a time when unemployment is low and businesses are hiring."
"The falling wages promise to exacerbate historic levels of U.S. inequality. Within the labor force, it means workers who were already making less are falling further behind. And if private laborers as a whole are seeing their earnings flatten while the economy as a whole grows at an annual rate of more than 2 percent, that means the gains are going almost exclusively to people already at the top of the economic ladder, economists say."
Well, what da ya know? The gains are going to the top top top......
"In the U.S., the world’s largest economy, lower taxes enacted by the Trump administration, a strong labor market and elevated confidence are helping cushion the pinch to shoppers from higher fuel expenses."
Now for some reality:
Since incomes aren't rising, where is the spending coming from?
Rising consumer and fiscal debt, of course! Another debt fueled bubble! Ya, live it up! And now a moment of silence for the poor bastards who have to work for living and don't have a $1M+ portfolio. Losers!
Exactly. It's not all about the unemployment rate, folks. I'm no economist, but even I can put a very basic economic fact together. One low paid job plus one low paid job worked by the same individual = two low paid jobs, which means people can't afford to support themselves. If wages are so low that people have to work multiple jobs to make ends meet, even a 0% unemployment rate is not cause for celebration.
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