3 ms·
That’s widely quoted but turns out to be incorrect. https://twitter.com/jmhorp/status/1125468274995675138 https://twitter.com/jmhorp/status/1125468274995675138
by jraby3 7y ago
That’s widely quoted but turns out to be incorrect.
https://twitter.com/jmhorp/status/1125468274995675138 https://twitter.com/jmhorp/status/1125468274995675138
- xyzzyz 7y agoThis is interesting, and I started clicking through some of these threads, but Twitter is just such a terrible format for it that I soon gave up.
- ranie93 7y agoThey claim "median personal income for ALL AGES us up 394.4% since 1977". However a quick check on FRED [0] tells me this figure is way off: 1977: $23,202 2016: $31,099 (2017 not available in the data) ~34% increase They said they had sources but I only see sources for the price of bread claim. Maybe they aren't looking at real wages? In which case the claim is very misleading. I also agree twitter's thread layout is hard to follow. [0]https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N
- xyzzyz 7y agoYes, they aren't looking at real wages, that's the whole point of the comment: they are comparing the inflation of bread price with the nominal growth of median personal income.