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That's an improper analysis. First off, it's dollar-averaging every category, so it's not "% of income", which varies based on unit income. Second, I could co
by gowld 8mo ago
That's an improper analysis.
First off, it's dollar-averaging every category, so it's not "% of income", which varies based on unit income.
Second, I could commit to spending my entire life with constant spending (optionally inflation adjusted, optionally as a % of income), by adusting quality of goods and service I purchase. So the total spending % is not a measure of affordability.
- WarmWash 8mo agoAlmost everyone lifestyle ratchets, so the handful that actually downgrade their living rather than increase spending would be tiny. This part of a wider trend too, where economic stats don't align with what people are saying. Which is most likley explained by the economic anomaly of the pandemic skewing peoples perceptions.
- twoodfin 8mo agoWe have centuries of historical evidence that people really, really don’t like high inflation, and it takes a while & a lot of turmoil for those shocks to work their way through society.