3 ms·
Exactly! The average may be improving but for too many in the middle class in the US, progress has reversed. Work and earnings opportunity has been reduced, and
by dv_dt 10y ago
Exactly! The average may be improving but for too many in the middle class in the US, progress has reversed. Work and earnings opportunity has been reduced, and the millennial generation onwards does not seem to have it better then the generation before.
- api 10y agoThe best description of what's happening that I've heard is "in-deflation." That's inflation in everything you need (housing, health care, education, etc.) and deflation in everything else including wages. It's basically a result of QE in a very soft labor market.
- return0 10y agoElegantly summarized by the elephant chart https://www.bloomberg.com/news/articles/2016-06-27/get-ready-to-see-this-globalization-elephant-chart-over-and-over-again https://www.bloomberg.com/news/articles/2016-06-27/get-ready...