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A comment on Why is the stock market rallying when the economy is so bad?. Parent comment

Re:Why is the stock market rallying when the economy is so bad? by pyuser583 on Monday May 11, 2020 @12:39AM (#23138972)
The US poverty rate is very misleading. It’s not the percent of people in poverty. It’s the percentage of people below a level of income at which not being impoverished is impossible.
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Re:Why is the stock market rallying when the economy is so bad? by mcv on Monday May 11, 2020 @04:55AM (#23140144)
Yeah, my impression is that the US has far more real poverty than Scandinavia, so I really wonder what the basis for these numbers is.
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Re:Why is the stock market rallying when the economy is so bad? by marcusverus on Monday May 11, 2020 @02:31PM (#23145388)
What data have led you to that understanding?
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Re:Why is the stock market rallying when the economy is so bad? by pyuser583 on Monday May 11, 2020 @11:57PM (#23150459)
Being unable to afford food and a place to live, yet being well above the poverty line.

This link provides more detailed information: https://www.irp.wisc.edu/resources/how-is-poverty-measured/

“ The Census Bureau determines poverty status by using an official poverty measure (OPM) that compares pre-tax cash income against a threshold that is set at three times the cost of a minimum food diet in 1963 and adjusted for family size.”

Regarding my definition in the previous comment, I’m unable to find my original source. Sorry.

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