Re:Why America's economy is soaring ahead of its rivals
by epistasis on Wednesday December 04, 2024 @06:48PM
(#42323311)
More of the economy is thriving than ever before.
>50% of the population has enough cash savings for three months of expenses
The median amount of cash in bank account is $8k
The median US household networth is $193k.
Further, the wage increases in recent years have happened mostly at the lower end of the income scale, not at the top!
When polled, the US population is very happy about their own economic situation, yet still believes that we are in some sort of terrible economic downturn.
IMHO, the reason for this disconnect is housing. We haven't built enough, it's made people very unhappy, and restrictive zoning prevents fixing it. The housing theory of everything could even extend to the current political situation in South Korea...
>50% of the population has enough cash savings for three months of expenses
The median amount of cash in bank account is $8k
The median US household networth is $193k.
Further, the wage increases in recent years have happened mostly at the lower end of the income scale, not at the top!
When polled, the US population is very happy about their own economic situation, yet still believes that we are in some sort of terrible economic downturn.
IMHO, the reason for this disconnect is housing. We haven't built enough, it's made people very unhappy, and restrictive zoning prevents fixing it. The housing theory of everything could even extend to the current political situation in South Korea...