Are Americans spoiled, naive or just gullible ❓

2 comments

  1. I never made more than $35,000 per year while working, 1971 to 2006. With an average of $12,000 per year. A new Ford Mustang purchased in 1979 cost me $5,900 about 90% of one years income. After that purchase, I always purchased used cars, to save money. In 2020 I purchased a new Ford Edge for $36,600, about 90% of onw years retirement income. The problem with growth in the economy, is the average worker’s pay does not keep up with price inflation The low income worker has a much harder time dealing with growth in costs of everything. The only way to cope with increased costs for many is to just do without. No retirement savings, no college savings, hell no money left in the budget for savings of any kind. Even when I had no phone, no cable TV, driving a 25 year old car, there was no money left to save.

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  2. “Spence and others who agree with him aren’t saying that the economy should stop growing or even shrink (though there is a group of people who do believe that). What they are arguing is instead that it may be more healthy economically to accept a slower growth rate, but still a positive one, while prioritizing policies that address things like inequality and access to services. This idea is, admittedly, somewhat utopian, but giving it serious consideration can illuminate the shortcomings of the current growth-first approach.”

    https://www.theatlantic.com/business/archive/2016/11/economic-growth/506423/

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