With unemployment low and wages rising, the struggle for basic necessities like food should be easing. But those on the front lines of feeding the hungry say they are seeing the opposite.
If you’re individually fucked, then it of course hurts, but generally speaking the US economy has been doing pretty well in the last 20, 10 and 5 years. Covid-19 was a bit shit but it was a bit shit for pretty much everyone.
If you wanna see an economically mediocre previously well-off area, check out EU.
Over the last 200 years, it has been more likely for people to climb out of extreme poverty than go the other way. The amount of people in extreme poverty was ~75% in 1820, and it’s now ~10%.
But perhaps you were talking about poverty, not extreme poverty. That figure has been rather more or less same for a long time in the US.
In the last 20 years vastly more people climbed out of poverty in China than in USA. If that’s your metric Chinese economy is doing amazing and USA has stagnated 20 years ago.
It’s pretty much a fact that the Chinese economy has been doing great in the last 20 years, and since most of the extreme poverty used to be in places like China, it’s not a large surprise that the most climbing happened there. It’s easier to climb when you’re at the bottom – there’s way more room above you than below you.
generally speaking the US economy has been doing pretty well in the last 20, 10 and 5 years.
Over the past 50 years GDP per person has quadrupled, the number of working adults per household has doubled, and yet people lost the ability to buy a house, and afford a family or college.
Why are we not 8x richer, in real (inflation-adjusted) measures?
The economy has not been doing well at all, for average people.
If you’re individually fucked, then it of course hurts, but generally speaking the US economy has been doing pretty well in the last 20, 10 and 5 years. Covid-19 was a bit shit but it was a bit shit for pretty much everyone.
If you wanna see an economically mediocre previously well-off area, check out EU.
“If you’re rich you’ll doing fine actually. If you’re poor you don’t matter”
I believe USA has a rather large middle class still, don’t they?
They do. And poor people don’t matter so you’re all good. Just be careful not to get sick and fall below the middle class line.
Over the last 200 years, it has been more likely for people to climb out of extreme poverty than go the other way. The amount of people in extreme poverty was ~75% in 1820, and it’s now ~10%.
But perhaps you were talking about poverty, not extreme poverty. That figure has been rather more or less same for a long time in the US.
In the last 20 years vastly more people climbed out of poverty in China than in USA. If that’s your metric Chinese economy is doing amazing and USA has stagnated 20 years ago.
It’s pretty much a fact that the Chinese economy has been doing great in the last 20 years, and since most of the extreme poverty used to be in places like China, it’s not a large surprise that the most climbing happened there. It’s easier to climb when you’re at the bottom – there’s way more room above you than below you.
Over the past 50 years GDP per person has quadrupled, the number of working adults per household has doubled, and yet people lost the ability to buy a house, and afford a family or college.
Why are we not 8x richer, in real (inflation-adjusted) measures?
The economy has not been doing well at all, for average people.