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> - And a record global middle class that's never been larger or wealthier than today and wants to consume more than ever Larger population? Sure. Wealthier? U

> - And a record global middle class that's never been larger or wealthier than today and wants to consume more than ever Larger population? Sure. Wealthier? Uh, no. By like no meaningful metric that I can think of.

dragontamer 5y ago
US Personal Savings Rate is through the roof. I'm talking unprecedented levels compared to the last 50 years. https://fred.stlouisfed.org/series/PSAVERT https://fred.stlouisfed.org/series/PSAVERT US middle class reacted to the pandemic by saving tons of money. At least, the ones who still kept their jobs (which was most people in fact. Yeah, Hotels / Hospitality / Restaurants / Airlines / Cruises did poorly, but that's still only one subset of the middle class). Now that the US is leading the vaccinations in the world (at least, in the top 10 countries), and with more and more optimism coming about, people are looking to spend that money they saved.
- harimau777 5y ago
  The problem that I see is that the cost to buy a house is also through the roof.
  - murph-almighty 5y ago
    I suspect urban property is not so bad, given everyone fled those areas.
ben_w 5y ago
Calories, computing, long distance communication, long distance travel, breath and depth of entertainment choices, and the total elimination of multiple diseases from many countries? Plus, on average, more literal money to spend, thanks to having nothing much to spend it on for the last year.
- andyana 5y ago
  > Calories Yup. > Computing, long distance travel, breadth and depth of entertainment choices, and disease These have nothing to do with class, and I'm not even sure entertainment choices have gotten any better.
  - maxerickson 5y ago
    The US usage of middle class pretty much refers to access to goods and services, it isn't about class in a social sense.
    - cosmojg 5y ago
      You ought to read more Fussell: https://astralcodexten.substack.com/p/book-review-fussell-on-class https://astralcodexten.substack.com/p/book-review-fussell-on...
      - maxerickson 5y ago
        I don't follow. I didn't say anything about whether the US has social classes, I stated that US usage of the phrase "middle class" tends to be about access to goods and services.
bennysomething 5y ago
Can you point to something that shows the world is poorer ??

dragontamer 5y ago

US Personal Savings Rate is through the roof. I'm talking unprecedented levels compared to the last 50 years. https://fred.stlouisfed.org/series/PSAVERT https://fred.stlouisfed.org/series/PSAVERT US middle class reacted to the pandemic by saving tons of money. At least, the ones who still kept their jobs (which was most people in fact. Yeah, Hotels / Hospitality / Restaurants / Airlines / Cruises did poorly, but that's still only one subset of the middle class). Now that the US is leading the vaccinations in the world (at least, in the top 10 countries), and with more and more optimism coming about, people are looking to spend that money they saved.

harimau777 5y ago
The problem that I see is that the cost to buy a house is also through the roof.
- murph-almighty 5y ago
  I suspect urban property is not so bad, given everyone fled those areas.

ben_w 5y ago

Calories, computing, long distance communication, long distance travel, breath and depth of entertainment choices, and the total elimination of multiple diseases from many countries? Plus, on average, more literal money to spend, thanks to having nothing much to spend it on for the last year.

andyana 5y ago
> Calories Yup. > Computing, long distance travel, breadth and depth of entertainment choices, and disease These have nothing to do with class, and I'm not even sure entertainment choices have gotten any better.
- maxerickson 5y ago
  The US usage of middle class pretty much refers to access to goods and services, it isn't about class in a social sense.
  - cosmojg 5y ago
    You ought to read more Fussell: https://astralcodexten.substack.com/p/book-review-fussell-on-class https://astralcodexten.substack.com/p/book-review-fussell-on...
    - maxerickson 5y ago
      I don't follow. I didn't say anything about whether the US has social classes, I stated that US usage of the phrase "middle class" tends to be about access to goods and services.

bennysomething 5y ago

Can you point to something that shows the world is poorer ??