Earlier today I published a post on the struggling middle class as part of my series on the American Caste System. I stand by the positions taken in the post but I am open to debate and challenges. I used two examples to demonstrate the burdens of the middle class; the price and method of purchase for a smartphone and the rise in home prices since 1963 versus the rise in income.
This is the chart I made to demonstrate the rise in home prices versus middle class income. (Click on the image if you need a larger view)
I prefer these type of “situational” and hands on examples to demonstrate what is taking place in our reality over time. One of the problems I have with public policy and economics is how these types of issues are clouded over with thinking and arguments that suggest it is more difficult to understand what is taking place than it really is. In other words, only the experts can understand what is going on. This isn’t true!
The experts can use the numbers to prove whatever point they want. The experienced reality of the middle class tells us something else more closely related to what is actually taking place.
This short video from PolicyEd offers some terrific insight into this predicament. It’s worth a watch.