Eat The Rich!

and did you know that household size got smaller since 1965 (from 3.7 to 3.1), and so at the very least the data should be adjusted for that? and not doing that when using a 60 year timeframe proves you have basically no clue at all? and that household size isn't the same among quintiles?

That also touches on some of the housing issues going on now - smaller families looking to buy a house thats 50% larger than they were 50 years ago.

Now you're being ridiculous. That can't be right, how could a family have 3.7 members? Are people getting sawn in half in industrial accidents?

My maths teacher, founded a tech company and went on to a a billionaire. Great guy. If only more teachers would get off their ass and contribute to the economy, we can make America great again.

I was reading this article earlier about the utter despair the youth currently have in politics - ‘A dying empire led by bad people&...

That is what I feel when talking about these issues online. It feels like you are up against a tsunami of stupid in a world of the blind leading the blind. You can take objectively measurable data showing one thing and just say random stuff, then state some meaningless conclusions like you are somehow contradicting the data. Its incredible, and I do laugh but it is also a little soul destroying.

Unclear why people who want to make a point about wage dynamic through time don't use median wages for full employment. Those describe how the normal full time worker gets for his effort through time.

What and who the normal worker is changes through time sure, but at least you have a clear indication of how the absolutely most normal people in a society at a given point in time are treated when part of the workforce.

The only things that require statistical tuning are 1) which inflation index to use to get real numbers out of nominal ones (small disparities among indexes can become big in 60 years) and 2) how to account for non-monetary benefits that are linked to work (defined benefit pensions being phased out, healthcare increasing in value, 401k matching contributions by employers and so on).

But even the gross nominal median wage for fulltime employment is already far far better than the messed up "households by quintile" data that doesn't tell you what you think it does.

Just check nominal median wages vs nominal gdp and go from there.

EDIT: and you can normalize for hours worked ofc

There's no need to talk about Lucion all the time.

I will fight politically for people like you, and until it's legal to sue the schools people like you went to with no statute of limitations for the damage they caused, i won't rest.

lol pretty good

I mean... when you find yourself often agreeing with someone who holds openly fascist views about murdering thousands or millions of their political opponents, maybe it's time to re-evaluate?

But that's the thing about liberals - they've always cosied up to fascists.

If someone were sawed in half, you'd have 0.5 of a person, not 0.7. So obviously it's not that people are getting sawed in half in industrial accidents.

(1) Seeing as you are seemingly a proud communist, you are not really in a position to lecture others on that matter.

(2) If Luciom has made some pro-fascist statements in this thread, I guess I missed them. FWIW, I don't agree with all of his points, such as painting recent inflation as the sole fault of Democrats, but he has made some decent points today and a couple of funny quips.

You and I did often agree with each other in the mod thread a few months ago, and seeing as your views are associated with tens of millions of deaths, I suppose that would also merit reevaluation. Who has time for all of these self evaluations???

about Tetraplegia ?
maybe that is why , they couldnt find enough for a round number .

careful , u leaving your libertarian identity when u speak about economic like that :p

BS! and certainly not in real terms !
graph please !
every damn pro investment managers says otherwise and other sources says massively otherwise too...

That graph needs to be on a logarithmic scale.

yes biden could of created 5-8% inflation in like 3-6 months huh...on the entire planet ?
jfc...

Did you notice that sewage repair man was smiling?

Goes to show how happy people are when they arent being bombarded with porn videos all day long.

im not, my point was if the losses of quality of life for many westerners shouldnt be accounted when we speak about globalized well being and poverty, then anything bad actually coming that help other parts of the world shouldnt be at all be discussed as a bad thing then .

So all the fuss and other $h!t like "make america great again" should be discarded because as a whole the world is in much better place...
fundamentally the left was right because the world is in effect a better place....

Re democrats having caused recent inflation, it's about the crucial bills they passed alone in 2021 and 2022.

The CARES act was fully bipartisan and reasonable, economic disaster caused by lockdowns required intervention.

Then a working vaccine arrived thanks to trump WARP program and the ingenuity of capitalism, the economy started re-opening (in the USA and elsewhere), supply chain problems worldwide started to fix themselves because of that.

Democrats passed another monstrous 2 trillion deficit bill (American Rescue Plan Act of 2021) on purely partisan lines (50-49 in the senate) against all macroeconomic models , with the economy already recovering and slack only needing time to get back into production not money. They kept people at home even if they could have worked and a vaccine was available, hugely exacerbating supply problems for many sectors of the economy and in general putting a ton of cash into people hands without supply being able to keep pace with that (-> 101 inflationary deficit).

Not happy with that, they passed the IIJA at the end of 2021, 600 billions more of deficit for infrastructure and the like (not a stupid way to spend money given the state of american infrastructure, but it should have come with spending cuts elsewhere, not with deficit, given the trend of the economy and the already monstrous deficit).

True, that bill got almost 20 republican senators on board (but almost no republican members of the house), so here the inflation causing disaster is shared.

NOT HAPPY WITH THAT (remember we are at the end of 2021 with a completly insane deficit that has to be reined in given the economy is doing better and better and jobs lost to covid lockdowns are being recovered at a very fast pace) , with inflation already way over target since april 2021 (unsurprisingly given the reopening and the ton of cash in hand they kept giving to people) , they passed another deficit bill called , in an orwellian way, the inflation reduction act.

The bill expenses are set by law while half the revenue to cover for those expenses is very very nebolous, theoretically money will come from stricter tax enforcement (gl with that), and with a 15% "corporate minimum tax " (gl with that).

Moreover the bill counts over 10 years but the expenses can be upfront to the revenue (and can be spent even if the revenue doesn't end up materializing), so more present deficit.

But sure it's not the democrats fault if there was generational inflation, they just passed huge deficits on strict partisan lines without the macroeconomic need for them

Lol at bold really

https://www.aei.org/articles/the-product...

No in the EU it was mainly the Ukraine war, which is why now that the effect has been absorbed already (energy prices aren't growing anymore), we are at target in many countries, if not below (italy is running at 1% inflation currently).

inflation with 2 trillions bills isnt spend in 2-3 freakin month...
it takes time to spend and be distributed...
it take a year or 2 to process and filter through the real economy.

And again, in 2021 the deficit was like 12% of dgp, u cut those spending by the government and u would end up in a big recession because gdp at that time was ike 6% only !
So the concept of thinking we would have a good economy or would of been ok in 2021 is nonsense....

ukrayne was in march 2022....
the big move in US inflation was mostly done at that time, it only went a bit higher after russia invasion ( it even went down a little in April 22) and it lasted like 2-3 month....

https://www.statista.com/statistics/1394...

So no Biden is light years of not being the sole responsible for inflation !!!
And we were speaking about US inflation and US politics now u bring Euro for what exactly ?

Yes which is why the insanity passed march 2021 and the worst of inflation arrived later. Peak was June 2022.

I am not saying deficit in 2021 should have been 0, i am saying it should have been 1 trillion instead of the 3 trillions it was because of the insane act passed in march 2011.

I haven't said Biden i said democrats. Biden doesn't pass appropriation laws, congress does.

I bring the EU because you said as i joke i claim inflation worldwide was caused by democrats. There is some indirect effect on inflation caused by american inflation yes, but in europe it was ukraine war, which had basically no impact in the USA, mainly because the USA is a net exporter of oil&gas so it doesn't care too much anymore about oil&gas inflation