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The Clubhouse Bar
Double Dip Recession, ConDems and sniffling Ed
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<blockquote data-quote="LittleGuy" data-source="post: 542309" data-attributes="member: 44360"><p>While obviously since 2008 there has been an overall reduction in wealth people who like to point out the "shrinking middle class" also like to point to thirty year trends and make these assertions but there really was no evidence that backs up these claims, and most of it is poorly misinterpreted data or deliberately falsified data meant to get us angry at the 1% or some other such nonsense. In fact much of the data problems come from the very simple definition of middle class...most definitions of middle class incomes are between 40,000 to 60,000 dollars(in the United States and Canada are my main examples). In the United States when incomes were rising many analysts did not move their definition of middle class to match the overall upward trend so it appeared as though the number of people who were middle income was receding, when in fact they were better off. </p><p></p><p>Inflation can also move people into higher income brackets without their actual purchasing power or standard of living improving. This is a huge problem when people try to make income comparisons over time, if they don't use "real income" statistics that are adjusted for inflation. In 1967 in the United States 18.3 percent of households had incomes of less than 15,000 dollars (in 2007 terms) while in 2007 this had shrunk to 13.2 per cent. This rising economy had lifted up everyone even if these people didn't appear in the middle class bracket.</p><p></p><p>I'll allow someone much more intelligent than I am to assert my argument....</p><p></p><p>[media=youtube]2hPIIlzlRYU[/media]</p></blockquote><p></p>
[QUOTE="LittleGuy, post: 542309, member: 44360"] While obviously since 2008 there has been an overall reduction in wealth people who like to point out the "shrinking middle class" also like to point to thirty year trends and make these assertions but there really was no evidence that backs up these claims, and most of it is poorly misinterpreted data or deliberately falsified data meant to get us angry at the 1% or some other such nonsense. In fact much of the data problems come from the very simple definition of middle class...most definitions of middle class incomes are between 40,000 to 60,000 dollars(in the United States and Canada are my main examples). In the United States when incomes were rising many analysts did not move their definition of middle class to match the overall upward trend so it appeared as though the number of people who were middle income was receding, when in fact they were better off. Inflation can also move people into higher income brackets without their actual purchasing power or standard of living improving. This is a huge problem when people try to make income comparisons over time, if they don't use "real income" statistics that are adjusted for inflation. In 1967 in the United States 18.3 percent of households had incomes of less than 15,000 dollars (in 2007 terms) while in 2007 this had shrunk to 13.2 per cent. This rising economy had lifted up everyone even if these people didn't appear in the middle class bracket. I'll allow someone much more intelligent than I am to assert my argument.... [media=youtube]2hPIIlzlRYU[/media] [/QUOTE]
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Double Dip Recession, ConDems and sniffling Ed
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