Quote:
Originally posted by Kadath
I don't mean to snipe, but maybe you don't see too many. Try going to north Philly. You'll see plenty of decrepit row homes and those people who do have cars are driving rusting junkbuckets from the early 80s at best.
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Do you believe that is representative of the nation? How about the prices of those row homes? Have they gone up or down in the last 30 years?
People are missing important points about the economy and buying power of the American consumer (and yes that even includes those in N. Philly)
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Economic points can not be made in isolation. There are very real and specific reasons that economic indicators say things and there is no possible way to draw conclusions based on one or two or even three or four economic "truths" without integrating a number of long and short term trends. Assumptions about the meaning of "Real Wages" is just one example of how most economic discussions are flawed. People don't even take the time to investigate the meaning behind the statistic and they take even less time to evaluate the reasons behind the trend.