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The Atlantic (January 4)

2024/ 01/ 06 by jd in Global News

“The illusion persists, despite all evidence…. Poll after poll shows that at best, only 20 percent of Americans say the economy is doing better than it was a year ago.” But by very valid measures, many more are doing better: “Unemployment is lower. Wages are growing. Inflation is declining…. These are tangible improvements in household income that should be cheering people up. And still, they are not.”

 

Time (September 13)

2016/ 09/ 14 by jd in Global News

“The median household income for a family in America surged last year, the first time since before the Great Recession when there was a year-over-year increase in earnings. Median household income in the United States was $56,516 in 2015, an increase of 5.2% in inflation-adjusted dollars from the 2014 median of $53,718.”

 

Financial Times (January 13)

2015/ 01/ 14 by jd in Global News

“Watch Japan” in the next year to find out more about the inevitability of Larry Summer’s secular stagnation thesis. “Virtually all western economies have seen wages stagnate or fall in recent years.” If Japan, “the world champion of secular stagnation,” succeeds in raising household incomes, this will present the hope that other developed nations can also escape the grip of secular stagnation.

 

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