Branko Milanovic: “The decline of the American middle class began around the mid- to late-1980s, at the same time as the negative long-run changes in modern American life — increased income and wealth inequality, lower social mobility — began to intensify.”

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So his argument boils down to: You have no job security, it costs $500/month for health insurance for a single person, rent is 2/3s your take home pay, you have no savings, college costs have gone up 800% and you have a 70s mortgage worth of student loans, it takes most people double incomes to have a “middle class” lifestyle, everyone has thousands of dollars of credit card debt, the townhouse my parents bought in 89 for $60k are now selling for $275k………… BUT did you know that the iPhone 11 is way more powerful than the Commodore PET or the PDP-8? Also we have Netflix and stuff instead of three over the air TV channels. Flying is cheaper. People are doing great!

Economy_Grab

Am I right in saying that the American worker doesn’t get sick or annual leave?

The_Angry_Economist

1971

anotherbigbrotherbob

So: Reagan. We still have never recovered from Reagan.

GothamGuy73

Here before the bootlickers. I believe there is enough data that shows this. Now I’d there time to start to reverse it.

MoneyManIke