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For some people who either got direct bailouts or were in the massive Covid-related windfalls, including direct purchases, loans, and scams. For many others, 20
by the_optimist 3y ago
For some people who either got direct bailouts or were in the massive Covid-related windfalls, including direct purchases, loans, and scams. For many others, 2020 664k is still 664k. Massive wealth transfer.
- cma 3y agoInflation adjusted, median wages are slightly up over Q4 2019: https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
- the_optimist 3y agoIt’s interesting to see this and consider if this is real growth. To some extent, a pig-through-the-python phenomenon is observable in various data sets. A less favorable interpretation is that: 1) the initial shock was so great that it massively distorted the median. quarters later, 2) we are now seeing nouveau riche, both corporate and personal, begin to distribute windfalls through consumption. I’d like to see the marginal Gini coefficient, and the change relative to historic rank-ordering.