tag:blogger.com,1999:blog-13073631.post4734244749766033028..comments2024-01-04T07:21:18.243-05:00Comments on John In Carolina: So How's The Economy?Unknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-13073631.post-3895082329604356082008-01-07T13:58:00.000-05:002008-01-07T13:58:00.000-05:00Ken:On the subject of real family wageswould you a...Ken:<BR/><BR/>On the subject of real family wages<BR/>would you accept the following from George Will's Jan. 6 column as on point?<BR/><BR/><EM>Edwards and Huckabee lament a shrinking middle class. Well. <BR/><BR/>Economist Stephen Rose, defining the middle class as households with annual incomes between $30,000 and $100,000, says a smaller percentage of Americans are in that category than in 1979 — because the percentage of Americans earning more than $100,000 has doubled, from 12 to 24, while the percentage earning less than $30,000 is unchanged.<BR/><BR/>"So," Rose says, "the entire 'decline' of the middle class came from people moving up the income ladder."</EM> <BR/><BR/>Best,<BR/><BR/>JohnJWMhttps://www.blogger.com/profile/08275423713054782480noreply@blogger.comtag:blogger.com,1999:blog-13073631.post-14119362046153589822008-01-02T14:56:00.000-05:002008-01-02T14:56:00.000-05:00Dear Ken,Later this week I'll look for some Thomas...Dear Ken,<BR/><BR/>Later this week I'll look for some Thomas Sowell columns that speak to real family wages.<BR/><BR/>IMO economic living standards for all classes have risen during the past 20 years.<BR/><BR/>On the other hand, there's nothing wrong with having some liquidity.<BR/><BR/>I continue to appreciate your comments.<BR/><BR/>Best,<BR/><BR/>JohnJWMhttps://www.blogger.com/profile/08275423713054782480noreply@blogger.comtag:blogger.com,1999:blog-13073631.post-25599879052888157552008-01-02T14:30:00.000-05:002008-01-02T14:30:00.000-05:00John:I agree its better to be optimistic about the...John:<BR/><BR/>I agree its better to be optimistic about the economy. Its one of the great benefits about capitalism.<BR/><BR/>However, relying on the price of the DOW from 1987 can be a bit misleading. A better measure would be the increase in real family wages adjusted for inflation. The story is not quite as bright for the US middle class:<BR/><BR/>http://www.demos.org/inequality/numbers.cfm<BR/><BR/>On a more ominous note, the personal savings rate has gone negative.<BR/><BR/>I think I'll keeep myself very liquid for 2008.<BR/><BR/>Ken<BR/>DallasAnonymousnoreply@blogger.com