3 ms·

The implication here being that people in non-urban areas of the country shouldn't experience any reasonable amount of growth.

lotsofpulp 7y ago
I didn’t imply that. I wrote that trying to measure inflation with one metric in what is essentially two different economies (or countries if you will) is useless.
- Retric 7y ago
  People move around the US, so their debt or savings is not market specific. Amazon also charges the same amount for a PlayStation or whatever across the US. So, saying it’s useless seems misleading.
  - lotsofpulp 7y ago
    People aren't impacted by the cost of Playstations, they're impacted by costs of shelter (housing), education (future income potential), and healthcare. All the data shows an increasing share of the economic growth concentrating into fewer hands. If you are young, and you want to lay the most secure foundations of your family's future, what are your best options? No one with options is advised to move to West Virginia or Oklahoma or upstate NY if they want to achieve security for their family.
    - Retric 7y ago
      Moving to a low cost area like West Virginia can be a great way for a specific person to improve their economic situation. A video game streamer for example get's paid in USD, but has minimal benefits from living in say Manhattan. They can still invest in the same stock market, it's only a subset of things that get more or less expensive in various markets. Further, those delta's are fairly consistent over time at least compared with exponential growth from inflation.
      - lotsofpulp 7y ago
        But it won't be a great way for them to set their children up. Their schooling, their circle of friends, etc are very material for their future: https://www.abcactionnews.com/news/national/map-income-race-inequality-opportunity-atlas https://www.abcactionnews.com/news/national/map-income-race-... That is why so many people are willing to forego the low cost of living areas and gamble on making it in high cost of living areas even though they may have a lower quality of life.
        Retric 7y ago
        That map is answering a different question. > Which neighborhoods in America offer children the best chance to rise out of poverty? A couple that could live in either location but is saving 2+k per month is very much not in poverty. A couple that can afford to send their kid through med school because they have well over a million extra in assets is hardly poor.

lotsofpulp 7y ago

I didn’t imply that. I wrote that trying to measure inflation with one metric in what is essentially two different economies (or countries if you will) is useless.

Retric 7y ago
People move around the US, so their debt or savings is not market specific. Amazon also charges the same amount for a PlayStation or whatever across the US. So, saying it’s useless seems misleading.
- lotsofpulp 7y ago
  People aren't impacted by the cost of Playstations, they're impacted by costs of shelter (housing), education (future income potential), and healthcare. All the data shows an increasing share of the economic growth concentrating into fewer hands. If you are young, and you want to lay the most secure foundations of your family's future, what are your best options? No one with options is advised to move to West Virginia or Oklahoma or upstate NY if they want to achieve security for their family.
  - Retric 7y ago
    Moving to a low cost area like West Virginia can be a great way for a specific person to improve their economic situation. A video game streamer for example get's paid in USD, but has minimal benefits from living in say Manhattan. They can still invest in the same stock market, it's only a subset of things that get more or less expensive in various markets. Further, those delta's are fairly consistent over time at least compared with exponential growth from inflation.
    - lotsofpulp 7y ago
      But it won't be a great way for them to set their children up. Their schooling, their circle of friends, etc are very material for their future: https://www.abcactionnews.com/news/national/map-income-race-inequality-opportunity-atlas https://www.abcactionnews.com/news/national/map-income-race-... That is why so many people are willing to forego the low cost of living areas and gamble on making it in high cost of living areas even though they may have a lower quality of life.
      - Retric 7y ago
        That map is answering a different question. > Which neighborhoods in America offer children the best chance to rise out of poverty? A couple that could live in either location but is saving 2+k per month is very much not in poverty. A couple that can afford to send their kid through med school because they have well over a million extra in assets is hardly poor.