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

Posted on 7/12/22 at 5:39 am to
Posted by FinleyStreet
Member since Aug 2011
8000 posts
Posted on 7/12/22 at 5:39 am to
You have to read the whole article. The stability of the middle class is over a five year time period from 2011 to 2016. The rest of the article talks about the growing wealth gap over a decades-long time frame. If you read past the headline, it makes sense.

The calculation they used to define middle class essentially captures the middle two thirds of the data, or ~1 standard deviation. Nothing dubious about that; it's a standard statistical measure. You could use 50% as you suggested. Your upper band would then be 150%, but the data would still trend similarly.

Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
135493 posts
Posted on 7/12/22 at 7:11 am to
quote:

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

You don't say.

By the way, speaking of Marxist revolutionary rationale, this is sort of classic ... "The elite and corporations are taking advantage with some of the more evil ones using the government to push their warped ideology."

The first step toward Marxist autocracy is factionation and conjured aggrievement. If you are doing well, but "someone else" is doing better, then you are actually doing poorly by comparison. Any uneven outcome is unfair. Negative relativity, rather than personal achievement, becomes the focus. A comparatively lesser degree of success somehow becomes the other guy's fault .... i.e., those evil businesses.

"Lower Class", "Shrinking Middle Class", "Upper Class", "Wealth Gap", etc are each key terms/elements in the Marxist vernacular.

They are concepts defined flexibly to fit an argument. "Shrinking Middle Class" is defined as a lesser number of individuals earning between the random endpoints, $40K and $120K. Yet from a stepped-back perspective, few making $121K/yr would actually ever be viewed as upper class IRL. Right? Nor would one pulling in $40K often be viewed as "Lower Class". Which raises the question, is the "Middle Class" shrinking at all, or is the observation just an artificial function of definitional constraint?

BTW, the "someone else" (element of comparison) is a malleable target also. The target is prechosen to suit an argument. Notice in "wealth gap" grievance studies, American household income and growth as compared with median HH's in Europe or Asia are never the point of focus. Rather comparisons with the American "rich" (the majority of which is first generation money) are drawn to strike a chord of envy. Instead of celebrating significant US HH wealth by comparison to the EU, Americans are goaded into lamenting the comparative wealth of our most successful countrymen.
Posted by GREENHEAD22
Member since Nov 2009
20532 posts
Posted on 7/12/22 at 9:32 am to
quote:

By the way, speaking of Marxist revolutionary rationale, this is sort of classic ... "The elite and corporations are taking advantage with some of the more evil ones using the government to push their warped ideology."


I see you don't George Sorrors/Klaus Schwab and the WEF, which is what that statement was eluding to.
Posted by DUKE87
Covington, LA
Member since May 2021
1614 posts
Posted on 7/12/22 at 2:27 pm to
No one you know is hurting..I'm sure plenty of ppl are though.

It's hard to tell if people have money to throw around or in debt to their ears now a days..





Posted by HC87
Coastal NC
Member since Dec 2014
5482 posts
Posted on 7/12/22 at 2:36 pm to
quote:

I read that the US airline industry as a whole let go 10,000 pilots during pandemic, resulting in less flights.


And I bet they took the COVID relief $$$ that was supposed to sustain their workforce and reduce/eliminate those mass reductions. They used the money to buy back their own stock to provide dividends, reduce overall financial losses, and pay bonuses to management. This story never gets old. Big business strikes again, and we continue to pay for it...
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