I swear I had Econ in college, but I don’t remember anyone saying this so succinctly. It’s from a weird place too, but this quote hits home. It’s like population decline, but for money.
It was a truly baffling thing for an American president to say. And University of Michigan economist Justin Wolfers explained on MSNBC that things could get very bad as Trump’s scheme becomes reality. Wolfers ntoed that the idea of how much you can afford to buy with your income is called “real income.” And if real income falls, that’s called a recession. Wolfers went on to explain that if things decline as badly as Trump’s example, where someone who bought 30 dolls could only afford to buy two dolls, that’s called a depression.
Video from MSNBC: https://www.youtube.com/watch?v=sAZxLm6M_V0
For decades, ‘middle class’ in America was one income supporting a family of four. In those days, $1 million was considered a vast fortune. Then Reagan got elected. By 1993, when Bush Sr. left office, ‘middle class’ was two incomes to run the home, and $1 million was what a rich guy spent on a party.
They blame it on women wanting careers and a life outside homemaking.
I’ve heard that one dozens and dozens of times. They claim that “Women’s Lib” lowered wages. Ask them to show one time that actual wages were cut and they can’t. Doesn’t stop them from repeating it.
The angle is supply and demand (of labor).
It’s a damn good thing a bunch of boomers died in Vietnam or it probably would’ve been worse, earlier.
Can’t tell if troll or stupid.
Dude… that war had a draft, that is in poor taste.
I wouldn’t be surprised in the least to learn that the draft and the war was a capitalist plot to thin the numbers of boomers.
We didn’t have enough schools or colleges for them coming up. Sure as hell wasn’t going to be enough work around for them to all find gainful employment.
How many US boomers died in Vietnam? How does that compare to a percentage of the total US boomer population at the time?