Americans are the richest they have ever been (2013, income, cost)

[lieqiang]

Originally Posted by beachmouse

We’ve got a paid off house and enough invested to buy a good amount of freedom if needed and went well around with the car thing before deciding that $40k was just a mental barrier too far and that even the $36k with 0% financing we ended up going with still seems like a lot to tie up in a depreciating item. But it’s fast and comfy and YOLO?

I do think Tesla is going to have issues trying to sell the $25k option unless it’s a comprable size and comfort level as a Corolla.

So why don't you just buy a $25k Corolla or Civic type car?

[EDS_]

Originally Posted by Supposn

EDS, the author within your provided link, Racesh K0chhar of the Pew Research Organization, wrote of United States median after tax income being greater than those of all other Western European nations other than Luxenberg; but does that take into account that Western European governments’ rather than their populations subsidize or fully pay for much of what USA consumers are expected to pay from their “disposable" (i.e. after tax) incomes?

Many contend “REAL” purchasing powers Western European nations’ median incomes are annually increasing at a substantially greater rate than that of the USA. If Western Europe has not yet passed us, they’ve been narrowing the gap between us. Respectfully, Supposn

The US subsidizes the poor and working poor more than any country except France.

That last part seems very unlikely.

[EDS_]

Originally Posted by Sand&Salt

Oh sure. Excepting health care, I guess.

Healthcare is accounted for.

[beachmouse]

Originally Posted by lieqiang

So why don't you just buy a $25k Corolla or Civic type car?

I had a Corolla from 2004-07. It was a perfectly nice econobox that made my soul die a little every time I drove it. It got traded for the purchased new $24K 2007 Outback we had until last month.

Other car is a 2016 Legacy that has a lot of features and was bought new for $25k out the door. The mid-sized sedan category is where you get the most for your money right now-so much that is standard on the mid-sized sedan is an expensive option on the econobox

[HJ99]

Originally Posted by skeddy

Our economy works best when we have 20% of the population is poor. Just find some way of climbing out of that hole. There will always be someone else to climb into your hole.

Shirty kind of system that requires a 20% slave or indentured servant class. Its may work best for the 80%, not so wonderful for that 20%. And its not that easy to dig your way out of such situation in modern times. Used to be, if you were white and male and could show up every day and put up with the tedium of factory line job, bingo you were middle class and could buy a 1200sq ft tract house and a new entry level full size Chevy. Meaning you got serious income and affordable housing, not McD kinda of part time income and $1200 a month rent for an efficiency and $30k new cars.


Wont even mention no fiscal education and hard sell for ever more consumer debt, cause debt is what makes this economy turn. If everybody was bright enough to avoid consumer debt, then there wouldnt be any jobs cause nothing would sell. Its a make believe economy built on a house of cards and backs of a slave class.

[Supposn]

Originally Posted by EDS_
Sorry to disappoint you, but across the metrics that matter US purchasing power across all incomes is high relative to nearly all peer and semi-peer countries.

Foreshadowing note: please don't reflexively fight me on this. I'm right. You seem to be looking at this from an FX POV which is a different matter.

In other words the median standard of living in The US is better than across most of Europe and nearly everyplace else.

This does a fair job explaining:
https://www.pewresearch.org/fact-tan...ppear-smaller/

Originally Posted by Sand&Salt

Oh sure. Excepting health care, I guess.

and Wi-Fi, and education, and public transportation such as commuting to your job. These expenditures are of lesser proportional cost to Western Europe’s, and greater cost to USA’s less wealthy population segments of their nations. Western European nations benefit from often comparatively superior rather than inferior delivery of those goods and service products.

Respectfully Supposn

[AntonioR]

Originally Posted by 1ondoner

You're half right. While the rich have gotten richer, the poor are getting poorer. This situation has been perfectly captured by the gini index, a measure of wealth/income distribution within a country.

For the US, it currently stands at about 0.43 or higher depending on the source. Gini's greater than 0.4 lead to social unrest and it's no surprise that the US has been rocked with turmoil as people feel left behind or economically disadvantaged.

So yes, the rich are getting obscenely richer but that doesn't bode well for everyone.

Are the poor getting poorer or are they getting richer than before but at a considerably less rate than the rich?

[loves2read]

Originally Posted by k374

The US Household Net Worth has hit records! This is totally at odds with the media narrative that so many people are suffering, so many people are living paycheck to paycheck etc.

Nationwide Housing prices are skyrocketing and people are falling hand over fist to buy them which only has to mean that there are way too many people with wads of cash for a down payment and getting wads of cash as income since qualification guidelines are still very strict. Many of these homes are crazy expensive too and still have hordes of buyers.

TSLA is having record deliveries which implies demand for a very expensive luxury product, which is what I consider Tesla to be, is at all time highs. This makes no sense if everyone has no money like you ready daily in the media.

https://www.foxbusiness.com/economy/...virus-pandemic

You are seeing the top of the iceberg
Not the part that will sink the ship

[EDS_]

Originally Posted by Supposn

Originally Posted by EDS_


This does a fair job explaining:
https://www.pewresearch.org/fact-tan...ppear-smaller/ and Wi-Fi, and education, and public transportation such as commuting to your job. These expenditures are of lesser proportional cost to Western Europe’s, and greater cost to USA’s less wealthy population segments of their nations. Western European nations benefit from often comparatively superior rather than inferior delivery of those goods and service products.

Respectfully Supposn

1. People can buy their own wifi.

2. According to The OECD The US is the number #2 spender on education behind only Luxembourg. Your share of GDP argument only works because most of the countries above us on that particular list have low per capita GDP numbers or are tiny.

3. I don't know what your last point is.

[dcfas]

Originally Posted by roadwarrior101

Collective net worth indicates that the total amount has increased substantially, which would be reflected in the mean. I'd be more interested in understanding the median net worth trends in this country. If the only beneficiaries of this higher net worth are the wealthy (primarily from stocks), would be interested in understanding how the median American is doing, as most do not own stocks and have been left behind in this economic recovery.

Yes. What happens to that number when there is a 30% tank in the markets? Funny how you can have a fortune in your ira and barely anything in your checking account. In a sense, your retirement savings are just a number until you actually start drawing.