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0 pointsdismalaf9mo ago0 comments

I'd wager those coal miners spent a lot less (relatively) on housing and had cheap venues to socialize.

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Real per capita disposable income has been on a steady upward trend for decades:

https://fred.stlouisfed.org/series/A229RX0

Unless socialization activities like bars or athletics are major outliers, it seems likely that in income-relative terms, the average American has much cheaper access to social activities.

(Unrelated, but if you squint at that chart you can see why Trump got elected, almost & then actually reelected.)

dismalafOP9mo ago

That graph starts 70 years after the aforementioned coal miner scenario...

And yes, in the 1800s housing was comparatively cheap because land was close to free and you built your own home. Same goes for booze and venues to drink it because you made your own and there was zero regulation.

Today everyone is being choked by the relatively high cost of real estate (inflation looks ok because we have cheap durable goods like electronics). The death of 3rd spaces is well documented.

twoodfin9mo ago

When do you think that trend reversed and per capita disposable income was declining prior to the current rise?

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twoodfin9mo ago

Real per capita disposable income has been on a steady upward trend for decades:

https://fred.stlouisfed.org/series/A229RX0

Unless socialization activities like bars or athletics are major outliers, it seems likely that in income-relative terms, the average American has much cheaper access to social activities.

(Unrelated, but if you squint at that chart you can see why Trump got elected, almost & then actually reelected.)

dismalafOP9mo ago

That graph starts 70 years after the aforementioned coal miner scenario...

Today everyone is being choked by the relatively high cost of real estate (inflation looks ok because we have cheap durable goods like electronics). The death of 3rd spaces is well documented.

twoodfin9mo ago

When do you think that trend reversed and per capita disposable income was declining prior to the current rise?

1 more reply

j / k navigate · click thread line to collapse