via @OccupyWisdom :
THREAD:
1/ THIS NEEDS ADDRESSING#FinTwit,
Please stop telling me that “median personal #income” doesn’t matter bc most households have 2 or more incomes.
Don’t you realize that this IS PRECISELY the problem? pic.twitter.com/VKaxLMTBzS
— OW (@OccupyWisdom) August 22, 2018
2/ HISTORY
The US used to be a #wealthy nation with a wealthy middle class. One income households provided a higher quality of life, WITHOUT #debt, than 2+ incomes provide today.
Stop comparing “median household income” of 2018 to “median personal income” of yesteryear.
— OW (@OccupyWisdom) August 22, 2018
You’re comparing (2) people working FULL TIME (80 hours of work or more) to (1) person’s income (40 hours of work)
If you need two or more full time incomes to buy the things that one income used to buy, PRICES HAVE DOUBLED without even looking at #inflation
— OW (@OccupyWisdom) August 22, 2018
3/ CORRECT MEASURE
Median personal income is what you need to compare
It has gone NOWHERE in decades, while the costs of everything have gone up pic.twitter.com/Zmkrp17bJV
— OW (@OccupyWisdom) August 22, 2018
4/ TODAY
We are a nation of debtors that cobble multiple full incomes together and compare the collective sum to the single person income of the 1950s and pretend inflation isn’t real
2 people in debt working full time to pay for a home is a 60 year #mortgage not a 30 year pic.twitter.com/YSlnxfdoZ1
— OW (@OccupyWisdom) August 22, 2018
5/ HOMES
Median personal income has gone nowhere, housing prices have essentially doubled. pic.twitter.com/s0Y6XrrOZA
— OW (@OccupyWisdom) August 22, 2018
INFLATE #MONETARY SUPPLY
COST OF LIVING INCREASES
ELIMINATE WAGE GAINS
RAISE #INTERESTRATES TO STOP #INFLATION
INCREASE #DEBT SERVICE
ELIMINATE WAGES GAINS
CRASH #ASSETS
INFLATE MONETARY SUPPLY 🔄 pic.twitter.com/nsK4XfRpUs— OW (@OccupyWisdom) August 22, 2018