Oso planning to go pro
Well if that's the case, we are going to be in for some troubles in the next decade or so, because they number of people exiting the workforce via retirment is going to WAY exceed the number of people entering. Just looking at a simple demographic chart will show that.It would be great for our economy if we had a better immigration policy right now.
I find that line of thinking to be pretty reasonable. I'm far from someone who will excuse away poor policy and Fed strategy over the years. I think governments (the US as much as anyone) are incredibly slow to react and adjust, so setting up the country for capital investment and growth in a way that was great 50 years ago but not so much today, takes far too long to correct.I just can't rationalize some mentality of addressing current rampant inflation (or many other burgeoning economic issues which too many people aren't aware of or ignore as stated in previous posts) is some plot to further cut the legs out from the workers. Thats just some armchair socialist conspiracy theory wet dream.
So the time period in which parents were directly responsible for the reading, writing, adding and subtracting education their child received was a failure?I'm shocked.
Gas price is up 70 cents at my neighborhood gas station since Sunday. I'm good with it and then some, hey?
Forgetful...You're a smart guy, but are you f'ing serious? You really think everything is superb, domestically and globally, across all economic categories and this is just some conspiracy to crush the poor? Come the hell on. I'm not excusing a hapless Fed, but there is some GNARLY structural issues with the economy. Its not some money grubbing nonsense. But sure, lets get to 8-10% inflation that won't harm the lower classes at all!
WagsI saw last week that middle class America had a once in lifetime increase in wealth over the past two years. I think lower and middle class America (my family) was given a golden ticket by the Fed. Wealthy, and especially very wealthy people always have an advantage and that is life. I believe the Fed and Treasury worked very hard to help the lower and middle class since the start of the pandemic. Crazy stock market and housing helped many Americans feel a lot wealthier than they did pre-pandemic. I still believe the wealth effect is a major reason for the inflation we are experiencing today.
Does the stock market and housing really benefit lower/middle class?
I totally see how you thought my post was saying the bolded, and the lack of clarity is 100% on me, but I was not suggesting that there was any sort of conspiracy to crush the poor, or that everything is superb domestically or globally. Yes there are some barometers that suggest the economy is running hot, but the underlying data says a major global recession...the question is how deep it will be.My wording sucked. I agree 100% on the gnarly structural issues with the economy. I also fault almost 15 years of reckless Fed policies contributing to the mess. It really was a perfect storm of issues that got us to where we are.My quoted statement, was more of a reflection of who is harmed in all of this (not relating to some kind of conspiracy). What is being done right now to fix the mess harms the poor/middle class the most, they are the ones that get doubly crushed by inflation and interest rates, and in many regards they were the ones who least benefitted from much of the reckless Fed policy over the years. My statement was more a reflection of concern/compassion for these classes as they are going to go through some serious pain in the next several years (in my opinion).Mea culpa.
LazerMiddle class America saw an almost $200k increase in their net worth during the pandemic. I am sure what the classification for middle class is, but many Americans' saw a nice boost to their nest egg during the pandemic.
Can you share where you found this $200k figure? I think the definition of middle class is important…I remember seeing some surprisingly low numbers for middle class retirement savings and net worth
I think this is an example of people and publications grossly misunderstanding who is middle class.
According to this, the median net worth of those in the top 20% is only a shade over $600,000.https://www.thebalancemoney.com/american-middle-class-net-worth-3973493This. Exactly. I think many people are way further up the ladder than they realize.