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Poignant post on the state of things
(lemmy.world)
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this post was submitted on 04 Feb 2024
1448 points (96.7% liked)
A Boring Dystopia
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This seems like a good place to post this reminder that in the last 50 years income has lost to inflation by 137 points. That's decades of prices rising faster than wages. It's not rocket science. They walked away with all of the productivity gains, and gave the entire country a pay cut at the same time. You want a boring dystopia? How about stealing your paycheck a couple percentage points a year until suddenly we realize we can't afford to live without 3 full time incomes in one household.
Where I'm from, the median house price has risen 600% relative to the median income in the past 50 years.
That means the deposit we pay today is the equivalent of the entire 30 year mortgage of the people calling you lazy.
Yup, the 137 points is just "core" inflation. Education, Housing, Food, and Cars all come in over that. Which is fine because those aren't necessary in the US right?
And yet nearly anyone IRL you point this out to spouts some form of free market propaganda bullshit.
When houses cost twice a person's salary there were no 30 year mortgages.
True - that's been the response to pricing getting out of control rather than addressing the fundamental issues with the economy.