3 ms·

We don’t ask people to accept less, quite the opposite: https://fred.stlouisfed.org/series/A229RX0 https://fred.stlouisfed.org/series/A229RX0

by twoodfin 10mo ago

lovich 10mo ago
Chart that against education and training costs(not just college, let’s include things like trade school or mechanics needing to supply their own tools) and basics like housing. Circuses got cheaper, bread didnt
- twoodfin 10mo ago
  “Disposable income” is what’s left after debt repayment and essentials like food, health care, and shelter. What did you think it meant? I can’t make sense of your reply.
  - lovich 10mo ago
    Ah, and the calculation for what is “essentials” has stayed the same all this time? Does this capture if more people are renting and part of their expenditure on shelter each month is just spent vs a mortgage payment where the principal paid off gets you equity? I legitimately don’t know, but I know that single value graphs trying to summarize a complex situation are useless on their own and need more data to draw any conclusions from
    - twoodfin 10mo ago
      I don’t know, either, but I’ve got data from the Fed, what would you suggest looking at instead?
      - lovich 10mo ago
        > Chart that against education and training costs(not just college, let’s include things like trade school or mechanics needing to supply their own tools) and basics like housing.
nerdponx 10mo ago
Per capita is simply the total quantity divided by the total population and doesn't tell you anything about the distribution thereof. Imagine a lord with an annual income of $100 from 10 serfs, who each pay $10 in annual rent to the lord but can sell goods at the nearby market town for an annual total of $11. The lord pays $80 for manor upkeep and luxuries to artisans etc from surrounding towns. That's $30 in disposable income, $2.73 per capita. One day the goods at the market and the artisans's fees all go up in price by 50% to $16.50 and $120 respectively. The lord then raises rent by 50% to $15. The lord now makes $150, so now his disposable income is $30 but all the serfs still have only $1.50 each of disposable income. The total of $40 and per capita of $4 went up, but the lord got most of the gains. And if the lord had the ability to raise rent more than the 50% increase to 15.50 (eg if serfs couldn't legally leave), then serfs would have no more disposable income at all while the total disposable income per capita would still increase.

We don’t ask people to accept less, quite the opposite: https://fred.stlouisfed.org/series/A229RX0 https://fred.stlouisfed.org/series/A229RX0

lovich 10mo ago

Chart that against education and training costs(not just college, let’s include things like trade school or mechanics needing to supply their own tools) and basics like housing. Circuses got cheaper, bread didnt

twoodfin 10mo ago
“Disposable income” is what’s left after debt repayment and essentials like food, health care, and shelter. What did you think it meant? I can’t make sense of your reply.
- lovich 10mo ago
  Ah, and the calculation for what is “essentials” has stayed the same all this time? Does this capture if more people are renting and part of their expenditure on shelter each month is just spent vs a mortgage payment where the principal paid off gets you equity? I legitimately don’t know, but I know that single value graphs trying to summarize a complex situation are useless on their own and need more data to draw any conclusions from
  - twoodfin 10mo ago
    I don’t know, either, but I’ve got data from the Fed, what would you suggest looking at instead?
    - lovich 10mo ago
      > Chart that against education and training costs(not just college, let’s include things like trade school or mechanics needing to supply their own tools) and basics like housing.

nerdponx 10mo ago

Per capita is simply the total quantity divided by the total population and doesn't tell you anything about the distribution thereof. Imagine a lord with an annual income of $100 from 10 serfs, who each pay $10 in annual rent to the lord but can sell goods at the nearby market town for an annual total of $11. The lord pays $80 for manor upkeep and luxuries to artisans etc from surrounding towns. That's $30 in disposable income, $2.73 per capita. One day the goods at the market and the artisans's fees all go up in price by 50% to $16.50 and $120 respectively. The lord then raises rent by 50% to $15. The lord now makes $150, so now his disposable income is $30 but all the serfs still have only $1.50 each of disposable income. The total of $40 and per capita of $4 went up, but the lord got most of the gains. And if the lord had the ability to raise rent more than the 50% increase to 15.50 (eg if serfs couldn't legally leave), then serfs would have no more disposable income at all while the total disposable income per capita would still increase.