re: Doesn’t seem like people are hurting financially right now

I would also say some people have their head in the sand and are continuing on as they always do - perhaps a little more on their credit cards - and will be caught somewhat off guard when things really get moving down in the fall (as an example not a prediction)

Short version - people spend what they make. Until that changes they’ll keep spending

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There is also a graph in the middle of the page.

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The majority of the U.S. population (52%) is in the middle class, according to the latest report (September 2018) from the Pew Research Center.

That is a slight increase from 2015, when the previous Pew report found that the middle class made up 50% of the U.S. population.

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The troubling thing is the misleading narrative which is being conjured. Even within a single source, definitions and claims vary according to the messaging.




You may not know how Pew chooses to define "Middle Class". So just in case you don't, Pew defines "Middle Class" as households earning between 2/3rds and twice the median U.S. household income (IAW U.S. Census Bureau numbers).

Aside from the fact those numbers open themselves to statistical gaming, several questions arise.

Why 2/3rds rather than half? Who knows? But the fact Pew defines someone who makes 66% of United States Median Income as "Lower Class" appears an incredibly dubious claim, to be kind.

Here is the conundrum that claim creates by comparison to other first world countries.


LINK


LINK

Not apples-to-apples sample sets, but very much representative of the definitions issue.

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Cost are definitely outpacing the middle class affordability

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Oh! 100%!

Questioning that was not the purpose of my post. I just get tired of the highly divisive us-and-them, we-should-all-snap-our-fingers-and-be-Elon-Musk BS

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The us vs them is the government vs citizens

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NEGATIVE!

The us-vs-them is proletariat-vs-bourgeoisie. If you don't recognize that from the most upwardly mobile social set in history, you'd damn well better open your eyes.

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but people are buying homes in record numbers

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You sort of had me until this one. Inventory is not at an all-time high and a lot of houses are sitting so I'm doubting this nugget.

So you are a Marxist?


The politicians are nothing more than gangster covered in the guise of government. They are for sale to the highest bidder, whether that be big corporations, China, or anyone else and consequences be damned. They have sold this country and its citizens down the river to enrich themselves and are so sure of themselves they now openly commit mass thievery and corruption with impunity while the media and government agencies run interference and muscle.

The elite and corporations are taking advantage with some of the more evil ones using the government to push their warped ideology.

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Airline prices are higher than ever, yet almost every flight is near or at capacity.

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Because they cancelled thousands of other flights.

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The us-vs-them is proletariat-vs-bourgeoisie

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This is literally the cornerstone of the Communist Manifesto by KM.

Were you being tongue in cheek and I just missed it?

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yet all hotels are booked.

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They are operating short staffed. Rooms and even floors are closed

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yet every pump at the Buc-Ee’s is spoken for.

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People are mostly living off credit cards. Easy to do at a gas pump

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yet almost every flight is near or at capacity.

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A record number of flights were cancelled over the 4th weekend

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but people are buying homes in record numbers.

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This is not true. Record number of cancelled home contracts are occurring.

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No Deal: U.S. Buyers Reneged on Home Deals at Record Rate in June

More negotiability and rising interest rates fuel contract cancellations

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They are operating short staffed. Rooms and even floors are closed

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But lot's of hotels and especially the ones in tourist areas are still doing very well. Is that not true?

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A record number of flights were cancelled over the 4th weekend

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Air travel numbers have still been very impressive for a while now. Even with extremely high prices as of late.