Quote from makloda:
So tell me, if the standard of living is eroding so rapidly, then what period labeled as a financial crisis like today WAS BETTER than 2008 for the average worker? During what period was the standard of living for the middle class the highest?
1981/82? 1990/91? Or 2008?
Most gains in household income over the past 30 years resulted from the inclusion of dual income families - Moms who entered the workforce alongside Dads.
Before, Dad could pay the mortgage, feed, clothe, medicate and educate the family on a decent factory or office job.
Now it takes BOTH Mom and Dad to do that.
So you tell me, which era had it better?
The working class Schmucks (us) who eat junk every night, let daycare raise the kids, and stress two menial jobs so they can acquire all marvelous toys of this technological-utopia?
Or the 1960's family who had less gadgets and doo-dads, but a stronger family unit, a mother who stayed at home and took care of the kids, and a Dad whose job covered the bills with a bit extra to spare?
Quote from makloda:
When I read this BS about the eroding middle class I can don't know if to laugh or to cry. People are wasting more money than ever and whine on how they can't pay their bills and how unfair the entire economic system is. Blame it on the Dollar, blame it on the Fed, blame it on the Chinese, blame it on Washington etc. Never ever blame it on their own spending habits!
Americans are solely to blame for their mindless spendthrift and unsustainable lifestyle.
The Fed (and Government) is responsible for perpetuating an inflationary monetary system that heavily favors consumption (and punishes saving) while incrementally robbing Americans of their hard earned money through inflation and the outsourcing of what-used-to-be bulwark factory jobs.
