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Value is already decoupled from money in the entire economy. When inflation is 3% YOY, but wages don't increase. If money was an indicator of value wages woul

Value is already decoupled from money in the entire economy. When inflation is 3% YOY, but wages don't increase. If money was an indicator of value wages would track with inflation. There's no objective measure of value anymore and most jobs are more or less bullshit jobs. https://en.wikipedia.org/wiki/Bullshit_Jobs https://en.wikipedia.org/wiki/Bullshit_Jobs

onlyrealcuzzo 6y ago
Median household income is up to $69k now. In 1980, it was $17k. Wages are up 3.7x since 1980. REAL median household income is up 32% [1]. And this is with labor force participation absolutely plummeting [2]. Less people are working, and yet households are bringing in 32% more. [1] https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N [2] https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART
- 52-6F-62 6y ago
  That isn't really meaningful on its own, is it? I'm sure the parent comment actually meant in the context of how it income has increased in relation to cost of living (though they didn't indicate that explicitly) eg, https://www.investopedia.com/ask/answers/101314/what-does-current-cost-living-compare-20-years-ago.asp https://www.investopedia.com/ask/answers/101314/what-does-cu...
  - onlyrealcuzzo 6y ago
    The Fed's REAL income measures this. It doesn't capture that debt markets - things like housing, cars, and tuition - have gone up. This is because the debt service payments haven't gone up, because they've lowered the interest rate and made it cheaper for people to pay for those things with debt (like most people do). So, sure, if you live in a world where debt doesn't exist, and all you care about is purchasing homes in cash - then the Fed's measure doesn't work for you. For everyone else, it does.
    - 52-6F-62 5y ago
      It seems like you have a vested interest in what you're preaching here, so I don't know what plane you're really dealing on. I'm sure you know you're talking to people who understand that debt exists. But I don't think there's any world where you can be so dismissive in a serious discussion about this subject— especially when you assume everyone qualifies for the debt required to gain an advantage—and that those most likely to be unqualified are those on the losing end of the whole equation. Personally, I don't know enough about it all, so I try to understand others' perspectives and background before moving to personal insults—or at least to be a little more direct and less passive aggressive if I have something I think is important to say.
- nickthemagicman 6y ago
  Odd that you would carefully choose median household income instead of just simply wage growth. Median household income increased because there are more dual income families. If you're honest and look at pure wage growth it's stagnated for decades. https://www.google.com/amp/s/www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/%3famp=1 https://www.google.com/amp/s/www.pewresearch.org/fact-tank/2...

onlyrealcuzzo 6y ago

Median household income is up to $69k now. In 1980, it was $17k. Wages are up 3.7x since 1980. REAL median household income is up 32% [1]. And this is with labor force participation absolutely plummeting [2]. Less people are working, and yet households are bringing in 32% more. [1] https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N [2] https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART

52-6F-62 6y ago
That isn't really meaningful on its own, is it? I'm sure the parent comment actually meant in the context of how it income has increased in relation to cost of living (though they didn't indicate that explicitly) eg, https://www.investopedia.com/ask/answers/101314/what-does-current-cost-living-compare-20-years-ago.asp https://www.investopedia.com/ask/answers/101314/what-does-cu...
- onlyrealcuzzo 6y ago
  The Fed's REAL income measures this. It doesn't capture that debt markets - things like housing, cars, and tuition - have gone up. This is because the debt service payments haven't gone up, because they've lowered the interest rate and made it cheaper for people to pay for those things with debt (like most people do). So, sure, if you live in a world where debt doesn't exist, and all you care about is purchasing homes in cash - then the Fed's measure doesn't work for you. For everyone else, it does.
  - 52-6F-62 5y ago
    It seems like you have a vested interest in what you're preaching here, so I don't know what plane you're really dealing on. I'm sure you know you're talking to people who understand that debt exists. But I don't think there's any world where you can be so dismissive in a serious discussion about this subject— especially when you assume everyone qualifies for the debt required to gain an advantage—and that those most likely to be unqualified are those on the losing end of the whole equation. Personally, I don't know enough about it all, so I try to understand others' perspectives and background before moving to personal insults—or at least to be a little more direct and less passive aggressive if I have something I think is important to say.
nickthemagicman 6y ago
Odd that you would carefully choose median household income instead of just simply wage growth. Median household income increased because there are more dual income families. If you're honest and look at pure wage growth it's stagnated for decades. https://www.google.com/amp/s/www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/%3famp=1 https://www.google.com/amp/s/www.pewresearch.org/fact-tank/2...