4 ms·

> As predicted in the 80s, the result is a country that is poorer and facing increasing social unrest. There might be greater wealth inequality. And some thing

• throwawaaarrgh 4y ago
  Having cheap goods is not in any way the same as having wealth. Personal savings for Americans today are at the same level as during The Great Depression. Any significant financial crisis right now could be devastating.
• bell-cot 4y ago
  > But today's America is not poorer. Take a look at (say) 30th-percentile incomes vs. the costs of food/housing/medical care now. Vs. in the mid 80's. Computer goodies might be a whole lot cheaper now, but the basic costs of living for the less-well-off are sure as hell not.
  • homeland221 4y ago
    You should factor in national and states debt. Vast majority of richness comes from turning debt (-ve) to positive via shifting it to national debt. For example? Let say, you owe 10K USD, government give you 10K USD and then cancel the debt a few mpnths or years later, you're now "wealthier" by 10K even if you do nothibg at all to get those 10K sent to you by IRA check. Americans now are poorer in real terms but get the facade of wealthy with borrowed money. Even if they dont ever need to pay off, their surrounding prices will i flates and catch up with their wealth and this is what is happening. When OPEC starts to shift half of petroldollar away, you will then understabd how we are now poorer.