It is well documented that actual purchasing power has been declining since the 1970's. Inflation hides it because salaries keep rising, but the middle class has taken a huge pay cut because their money doesn't go as far.
At the same time, I see armies of brand new RVs towing trailers with ATVs every summer, and I wonder how the hell people are affording those. I'm pretty well off and I wouldn't even consider such extravagance. Either I'm just seeing the most well-off people on the highway or their in debt to the gills buying all that crap on credit.
It is well documented that actual purchasing power has been declining since the 1970's. Inflation hides it because salaries keep rising, but the middle class has taken a huge pay cut because their money doesn't go as far.
I read something that said that wages have doubled since the 70s but the cost of living has gone up six-fold.
This.
It is well documented that actual purchasing power has been declining since the 1970's. Inflation hides it because salaries keep rising, but the middle class has taken a huge pay cut because their money doesn't go as far.
At the same time, I see armies of brand new RVs towing trailers with ATVs every summer, and I wonder how the hell people are affording those. I'm pretty well off and I wouldn't even consider such extravagance. Either I'm just seeing the most well-off people on the highway or their in debt to the gills buying all that crap on credit.
I read something that said that wages have doubled since the 70s but the cost of living has gone up six-fold.