Just 40 years ago a couple could get married , raise a family, own a home and fund a retirement on one income with no investment of time or money in college. What the hell happened?
Just 40 years ago a couple could get married , raise a family, own a home and fund a retirement on one income with no investment of time or money in college. What the hell happened?
Well, more likely they live from pay check to pay check and spend everything that they have on the luxuries that make them feel like they are relevant. People who actually have money can be eccentric and throw tens of thousands or millions into savings or investments and appear to live like paupers but in reality have everything that they want. :shrug: People who learn to save will get ahead faster.
In quoting my post, you affirm and agree that you have not been goaded, provoked, emotionally manipulated or otherwise coerced into responding.
"The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problems.”
Mahatma Gandhi
Green Arrow (09-27-2014),Peter1469 (09-26-2014)
Well put. However, it's part of an age old story that repeats over and over again. With each generation the halves use their money to buy influence to tilt the table ever increasingly in their favor.
The graph is based off misleading data. It is from the French economist Thomas Piketty, and his work resulting in his latest book, Capital in the 21st Century. Even though many believe that his conclusions were incorrect, no serious person will discount the research that went into the book- he has done far more than most if not all economists in calculating economic data over a large time frame.
There are many criticisms of his work, the one that directly affects this chart is government assistance. It isn't there.... Add in government assistance payments and those blue columns would be a lot higher than they are....
ΜOΛΩΝ ΛΑΒΕ
I appreciate you pointing that out.
At least we have a clearer picture of what is wrong.
The socially liberated left, which is often one and the same with the economic left who worship socialism like to discount the 50's as a bad decade when their own chart shows that it may have been the best time in recent American history.
Last edited by Mac-7; 09-27-2014 at 06:24 AM.