More than 60 percent of Americans in the middle class said they are “struggling financially” and do not expect things to turn around for the rest of their lives, according to a poll released Tuesda…
I had to dig a bit, but I found out the source poll’s threshold for “middle class”: 200% or more past the poverty line.
The poverty line is about $15k for individuals. People making $30k a year are, clearly, not middle class. The current standard puts the beginning of middle class in the low $50k’s.
A small amount (obviously less than we’ve had recently) of inflation is actually ideal. Deflation incentivizes literal hoarding of cash, instead of spending it on things, which is a very reliable way to bring an economy to a screeching halt.
No offense but this is exactly the belief I was being sarcastic about. The economy wasn’t halted before Nixon introduced inflation as we know it today. And “the economy” at this point is practically a euphemism for rich people getting nearly the entire surplus while destroying the environment.
Please stop spreading this dangerous misconception.
Yeah, and consider how bad it is for the class below the middle class. We’re literally fucking drowning in debt.
I had to dig a bit, but I found out the source poll’s threshold for “middle class”: 200% or more past the poverty line.
The poverty line is about $15k for individuals. People making $30k a year are, clearly, not middle class. The current standard puts the beginning of middle class in the low $50k’s.
This is doomer clickbait bullshit.
But debt is good! Inflation has encouraged everyone to take out loans where they previously couldn’t. Hooray!
/s
A small amount (obviously less than we’ve had recently) of inflation is actually ideal. Deflation incentivizes literal hoarding of cash, instead of spending it on things, which is a very reliable way to bring an economy to a screeching halt.
No offense but this is exactly the belief I was being sarcastic about. The economy wasn’t halted before Nixon introduced inflation as we know it today. And “the economy” at this point is practically a euphemism for rich people getting nearly the entire surplus while destroying the environment.
Please stop spreading this dangerous misconception.