Wrong again. I made two statements. 1) Wages, in constant dollars, are higher now since the early 80s. Correct, even using you’re own resource. You’re reading the sensationalist headline and verbiage. I’m looking at the data. And 2) that the middle class shrunk in part due to many of them moving into the next upper class. The data doesn’t lie. You selectively point out that the higher income people had big wage increases, but the data in your own resource points out that all income tiers had wage increases.
You are being disingenuous tho which I believe is what boojum is stating. For all intents and purposes wages have been stagnant for decades and you know that all too well.
There is no huge influx into the upper class causing the middle class to decline. Quite the opposite.
Wealth is consolidating and that is a well known fact.
No, what I am saying is that the people saying how things have declined wage-wise is not correct. Wages have kept up with the overall cost of living just fine based on unbiased data sources. And the move from middle to upper class is a fact clearly shown by unbiased data from the self-reported census. Some people just need to blame things for their woes. In this case, it just doesn’t hold up.
The Bureau of Labor and Statistics CPI includes food and energy costs. Read about halfway down in this https://www.cnbc.com/id/43769766
The data in the article cited is from the BLS, and so includes food and energy in the inflation factor. I don’t listen to nonsense. A big part of my job is to cut through all the right and left wing BS to figure out what is really going on. People depend on me to know the facts, not pontificate on some biased slant. That’s why I read the reports and look at the data, not the headlines and reporter slants.
Just so you know, I am solidly Independent and could give a rip who is to credit for the current positive economics. I just look at the results and forecast the horizon based on what’s going on.
You accused me of upper class nonsense. I’m saying I don’t speak from upper, lower, middle, left, right or whatever. I go by what’s actually going on. Not by taking some “side.”
I don't look at compiled data I look at my budget. Let's make it simple. I had $100 A week to spend 5 years ago and today I have 105.
Now 5 years ago a steak cost $8-9. Today the same steak $15-16. That is a decline in purchasing power any way you slice it. Unless of course the cost of something else went down to compensate. Well nothing has decreased, nothing.
That means your budget has way lagged the US average wage increase considerably at only 0.98% compounded annual growth. And steaks in your area have gone up in price over 12% compounded annual growth, which way outpaced inflation. Both are anomalies, given the original discussion. Apparently you’ve chosen a way of life that provides less wage gain than average and live in an area where steaks have increased in cost way more than average. Can’t help you with that.
who are responsible for lower wages and a shrinking middle class
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Wrong again. I made two statements. 1) Wages, in constant dollars, are higher now since the early 80s. Correct, even using you’re own resource. You’re reading the sensationalist headline and verbiage. I’m looking at the data. And 2) that the middle class shrunk in part due to many of them moving into the next upper class. The data doesn’t lie. You selectively point out that the higher income people had big wage increases, but the data in your own resource points out that all income tiers had wage increases.
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nikkiclaire
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You are being disingenuous tho which I believe is what boojum is stating. For all intents and purposes wages have been stagnant for decades and you know that all too well.
There is no huge influx into the upper class causing the middle class to decline. Quite the opposite.
Wealth is consolidating and that is a well known fact.
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JD777
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No, what I am saying is that the people saying how things have declined wage-wise is not correct. Wages have kept up with the overall cost of living just fine based on unbiased data sources. And the move from middle to upper class is a fact clearly shown by unbiased data from the self-reported census. Some people just need to blame things for their woes. In this case, it just doesn’t hold up.
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nikkiclaire
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nikkiclaire
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I don't see us blaming our woes. Food and energy are not included in inflation. You aren't going to listen tho so enjoy your upper class nonsense.
Btw. In the past year I've gone from homeless with $30 to owning a farm. I'm not complaining but I know the truth and your views are not reality.
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JD777
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The Bureau of Labor and Statistics CPI includes food and energy costs. Read about halfway down in this https://www.cnbc.com/id/43769766
The data in the article cited is from the BLS, and so includes food and energy in the inflation factor. I don’t listen to nonsense. A big part of my job is to cut through all the right and left wing BS to figure out what is really going on. People depend on me to know the facts, not pontificate on some biased slant. That’s why I read the reports and look at the data, not the headlines and reporter slants.
Just so you know, I am solidly Independent and could give a rip who is to credit for the current positive economics. I just look at the results and forecast the horizon based on what’s going on.
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nikkiclaire
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Who is bringing up left and right? I'm certainly not.
Perhaps you are as a straw man Idek but I didn't.
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JD777
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You accused me of upper class nonsense. I’m saying I don’t speak from upper, lower, middle, left, right or whatever. I go by what’s actually going on. Not by taking some “side.”
It doesn't matter what wages do if purchasing power declines which is what has happened.
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JD777
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No, read the data again. It shows purchasing power has not declined.
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nikkiclaire
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I don't look at compiled data I look at my budget. Let's make it simple. I had $100 A week to spend 5 years ago and today I have 105.
Now 5 years ago a steak cost $8-9. Today the same steak $15-16. That is a decline in purchasing power any way you slice it. Unless of course the cost of something else went down to compensate. Well nothing has decreased, nothing.
So splain that to my white trash ass.
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That means your budget has way lagged the US average wage increase considerably at only 0.98% compounded annual growth. And steaks in your area have gone up in price over 12% compounded annual growth, which way outpaced inflation. Both are anomalies, given the original discussion. Apparently you’ve chosen a way of life that provides less wage gain than average and live in an area where steaks have increased in cost way more than average. Can’t help you with that.