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So is your point that a standard cost of living somehow can’t be logically defined? Or are you one of those people who thinks that sacrificing common needs and
by yunohn 4y ago
So is your point that a standard cost of living somehow can’t be logically defined?
Or are you one of those people who thinks that sacrificing common needs and making huge changes like location/job are somehow the solution? To be clear, the survey was not done solely in the Bay Area.
- bawolff 4y agoMy point is, if i want to know how the economy is actually doing, i want objective measures. A subjective survey of ill defined terms doesn't tell me much (other than perhaps how worried people are).
- yunohn 4y agoCPI is a great indicator of cost of living and is defined rigorously by law. We can argue if it is missing things, and I would agree. But that doesn’t mean we should ignore its value. People being worried about their daily expenses skyrocketing is important? Your privileged lack of worry doesn’t solve the world’s problems.
- bawolff 4y ago> CPI is a great indicator of cost of living and is defined rigorously by law Sure, but this survey doesn't use that. > People being worried about their daily expenses skyrocketing is important? Your privileged lack of worry doesn’t solve the world’s problems. Neither does fear mongering reporting. Its not wrong to be worried, but reliable information is critical to take appropriate action.
- yunohn 4y agoI think consumer credit card debt (1) is a good indicator of normal people’s inability to pay for their expenses upfront, i.e. their “income is behind the cost of living”. (1) https://www.newyorkfed.org/microeconomics/hhdc https://www.newyorkfed.org/microeconomics/hhdc