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New Study Shows that We Really Are Worse Off Then Our Parents

upnorthkyosa's picture
Tue, 2007-06-05 08:31 — upnorthkyosa

http://www.economicmobility.org/newsroom/

Quote:
According to the report, men who were in their thirties in 1974 had median incomes of about $40,000, while men of the same age in 2004 had median incomes of about $35,000 (adjusted for inflation). Thus, as a group, income for this generation of men is, on average, 12 percent lower than those of their fathers’ generation. While factors other than cash income also contribute to economic mobility, these data challenge the two-century-old presumption that each successive generation will be better off than the one that came before. The findings rely on new analysis of U.S. Census Bureau data.

They aren't taking into account so many things. First of all, it takes TWO incomes to get by these days, so this 12% really isn't inflation adjusted or even adjusted for everyday life. Secondly, they aren't taking into account the things that have grown faster then inflation....health care, higher education, energy prices, etc.

Lastly, they skirt around the central cause of all this. The Federal Reserve.

Your thoughts?

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Tue, 2007-06-05 08:41 — upnorthkyosa
upnorthkyosa's picture

Read the article and watch

Read the article and watch this video and think about how all of this is working us over in America.

http://video.google.com/videoplay?docid=3286459385978771924&q=Federal+Re...

"The definition of insanity is doing the same thing over and over and expecting different results."

Tue, 2007-06-05 15:05 — jhaynes
jhaynes's picture

Bleak outlook

Yeah this is essentially the same info as in Money Masters. You are a fool if you don't diversify (i.e. gold and stocks) to hedge against the destruction of the US economy to make way for the Global leviathan. This is a necessity for globalism and it will be here sooner than you think as Bernanke has vowed to double the amount of money in circulation in 2 years. That is why we are seeing records on Wall Street and the beginning of recession/depression on Main Street. The Euro is backed by 15% gold and this will undoubtedly be the savior of Europe and used as a an example of why the WHOLE world needs to abandon its banking systems for some as of yet unnamed global currency backed fractionally by gold and paperless...I.E the chip. there will be a seizing of gold from citizens globally and it will once again reign as the dominant force behind the economy. by this time the US will in fact be a "third world country" and quite possibly facing a war on our own soil.

personally I make no where near what my father makes, he never finished college and I have a masters. by the time your kids are of age to go to college it will either be free or only open to elite scions. A college fund is foolish unless it is gold coins you sew into the souls of their feet. My only hope to live a better life is to bide my time and create something which is marketable and to move out of the country.

Now the only thing we need on this website are some dissenting views.

Wed, 2007-06-06 07:01 — upnorthkyosa
upnorthkyosa's picture

At least with this thread,

At least with this thread, there isn't much you can argue about. Everyone, regardless of their partisan stripe, can see that material of this study is really playing out in their lives. I make more then my parents, but there are very specific reasons why that is so. My father is mentally ill and he couldn't hold a steady job when I was a kid. If he had had a longer period of lucidity, all of this would have been drastically different.

Now, as to whether gold will be the savior or not, I think you answered that in your own post. Why gold when they can confiscate it and make it illegal to possess?

Further, how can gold help anyone when the elite already has a monopoly on it. They can control the price of it just as DeBeers controls the price of diamonds.

I agree with you about moving out of this country. The US is heading down the shitter and its only a matter of time before this financial juggernaut implodes.

"The definition of insanity is doing the same thing over and over and expecting different results."

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