The Rise and Fall of Middle Class Wealth.

Get the Fed out of the business of keeping interest rates artificially low - as all this does is drive up asset prices (for those that own assets) and hurt the poor. It used to be that the poor and middle class could make decent money by simply keeping their hard earned bucks in a savings account. Whole swaths of the elderly relied on compound interest.

The Fed destroyed that.
 
Ricter said:
So she's wrong, the middle class is doing fine?
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The middle class people I know are doing okay, yes.

Plenty of people aspire to be middle class and spent beyond their means. When we had the housing market crash there were a lot of people who had bought homes they couldn't afford. Why? Because they wanted granite, 5 BR's, etc.

I'm old enough to have been raised to buy what you can afford. I laugh at people who don't pay off their credit cards each month. Why would anyone choose to pay interest on a card? If you can't afford something then maybe you shouldn't buy it.

People have CHOICES in how they spend their $$$.
 
Ricter said:
Aren't you the guy with five statistics degrees? Or was that GWB... nevermind.
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Yeah, I've got 3 math oriented degrees. What does that have to do with the middle class? Or people that are supposedly slipping out of the middle class. Again, we all make choice how we spend or invest our $$$.
 
DHOHHI said:
Yeah, I've got 3 math oriented degrees. What does that have to do with the middle class? Or people that are supposedly slipping out of the middle class. Again, we all make choice how we spend or invest our $$$.
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And yet he can't find the interrelationships among three variables.

Hmmm.
 
DHOHHI said:
Yeah, I've got 3 math oriented degrees. What does that have to do with the middle class? Or people that are supposedly slipping out of the middle class. Again, we all make choice how we spend or invest our $$$.
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Most swans I've seen are black.
Therefore most swans are black?
 
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