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re: Interesting Chart on Income Adjusted for Inflation since 70's
Posted on 10/3/14 at 1:03 pm to 90proofprofessional
Posted on 10/3/14 at 1:03 pm to 90proofprofessional
quote:
Jealousy alone hasn't spurred "violence and revolt." Hunger can do it though, if it happens. The thing is, hunger is objective.
Yes, bellies are full which slows it down. I think if we can get some real job growth in the next 2-4years, it won't be an issue. But if we see the continuation of what we have seen in the last 10 years or so, we are fricked.
1
Posted on 10/3/14 at 1:14 pm to Hawkeye95
quote:
But if we see the continuation of what we have seen in the last 10 years or so, we are fricked.
IMO to assess how at-risk of something like this we are, we need to see the actual final consumption resources of the income classes over time. That's why we need these charts to be adjusted for taxes and transfers.
I'd expect your 10-year scenario only to be true if the government ran out of money somehow, and lost the ability to make transfer payments. Only then would I expect widespread crime and violence.
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