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Income from jobs is less and jobs are less stable, most stuff is more expensive (especially rent!), and the younger generation is suffocated by high-interest hi

Income from jobs is less and jobs are less stable, most stuff is more expensive (especially rent!), and the younger generation is suffocated by high-interest high-principal student loans which get paid out even if it means wage garnishing. To be explicit, the bandwith of money inflow has decreased, and the bandwith of money outflow have increased. The big-picture money outflow from rent and student loans go more or less directly to the richest.

WalterBright 11y ago
Don't overlook the increasing share of the GDP that the government consumes. See chart S.03t: http://www.usgovernmentspending.com/total_spending_chart http://www.usgovernmentspending.com/total_spending_chart That more than explains the lower amount left for people.
- zbyte64 11y ago
  Saying that is an oversimplification of what is going on would be an understatement.
curun1r 11y ago
> most stuff is more expensive On the contrary, I think the thing that has deceived us about how much poorer we've become is cheap stuff. TVs are cheaper than ever. We spend less as a percentage of income on food than we've ever done in the past. Even automobiles and computers are more affordable than they've ever been. To a superficial viewpoint, we have more purchasing power than we've ever had (and the CPI includes many of these items which give that superficial viewpoint). But we see the true regression in purchasing power once we look at things that haven't benefitted from lowered manufacturing costs. Housing, education, health care and the like are showing the true nature of the situation of how poor we've become. P.S. Yes, I know I took the quote out of context and I'm more agreeing with you than disagreeing with you. But there is a distinction to be made that it's not all stuff that's more expensive, just the important stuff.
- roymurdock 11y ago
  Consumption-class goods have become commoditized/cheaper whereas investment-class goods and services have become more expensive.
- cryoshon 11y ago
  That's a good point, actually. Dropping cost of typical consumer goods and food really masks how much more money gets thrown into credentialism, rent, and healthcare. This fact means that it's easy to pick up a new X and fill your apartment with Y, but it's nearly impossible to pay off your student loans or move out of your parent's house. Low cost of goods allows people to be massively in debt but not starving to death.

WalterBright 11y ago

Don't overlook the increasing share of the GDP that the government consumes. See chart S.03t: http://www.usgovernmentspending.com/total_spending_chart http://www.usgovernmentspending.com/total_spending_chart That more than explains the lower amount left for people.

zbyte64 11y ago
Saying that is an oversimplification of what is going on would be an understatement.

curun1r 11y ago

> most stuff is more expensive On the contrary, I think the thing that has deceived us about how much poorer we've become is cheap stuff. TVs are cheaper than ever. We spend less as a percentage of income on food than we've ever done in the past. Even automobiles and computers are more affordable than they've ever been. To a superficial viewpoint, we have more purchasing power than we've ever had (and the CPI includes many of these items which give that superficial viewpoint). But we see the true regression in purchasing power once we look at things that haven't benefitted from lowered manufacturing costs. Housing, education, health care and the like are showing the true nature of the situation of how poor we've become. P.S. Yes, I know I took the quote out of context and I'm more agreeing with you than disagreeing with you. But there is a distinction to be made that it's not all stuff that's more expensive, just the important stuff.

roymurdock 11y ago
Consumption-class goods have become commoditized/cheaper whereas investment-class goods and services have become more expensive.
cryoshon 11y ago
That's a good point, actually. Dropping cost of typical consumer goods and food really masks how much more money gets thrown into credentialism, rent, and healthcare. This fact means that it's easy to pick up a new X and fill your apartment with Y, but it's nearly impossible to pay off your student loans or move out of your parent's house. Low cost of goods allows people to be massively in debt but not starving to death.