Comment by ch4s3
5 days ago
REAL income is adjusted for inflation. If real median income is increasing then it is outpacing inflation by definition.
5 days ago
REAL income is adjusted for inflation. If real median income is increasing then it is outpacing inflation by definition.
Why is it that the cynics and doomers always have such a poor grasp of the data?
Because the basket of goods for inflation doesn't separate optional from mandatory consumption.
If housing, healthcare and education are outpacing the topline inflation number, a lot of marginal families will be squeezed. The cheap LG TV doesn't really make up for it.
Nevertheless if you lump those costs into an inflation number it won't be a lot higher, the Total Living Cost calculated for 2023-2024 showed 4.4% inflation vs 3% CPI. There are a lot of ways to slice and dice this, which is why people stick to the classic CPI.
5 replies →
I think once you have a good command of data and broader trends its harder to be cynical or a doomer. You just see that things aren't perfect but are larger better than the past on most metrics.
I completely agree, especially if you consider humanity as a whole.
I have asked this question many times to the doomers, and honestly don’t think I’ve ever gotten a good answer: if you had to be born as a random human somewhere on earth, and the only thing you get to choose is the year in which you’re born, what year would you choose? You can’t choose your race, intelligence level, physical abilities, parents, socioeconomic status, country, gender, sexual orientation, etc. Only the year.
So doomers: if the world is completely fucked up and going down the tubes, when would you prefer to have been born? Huge bonus if you can actually give some data showing that the average human was better off during whatever time you choose.
3 replies →
I think it's the dissonance between what the data say and just looking around. I see far more homeless, friends and family are more stressed, life in general just feels harder with less opportunity. Then you have the data people saying "no your life is actually great." So why the dissonance? I don't think it's just social media brainwashing.
4 replies →