Here is Total Household Credit Market Debt divided by Total Wage and Salary disbursements - basically household debt by household income.
Via Tux, we find a compelling narrative from M Bouffant about this tragic view of the last 40 years -- "middle class serfdom." Reagan and Bush II destroyed America. WASF.
Update: I posted this in the middle of reading the Bouffant post. At the end I found out it's a lengthy quote from a New Republic article by Timothy Noah, behind a pay wall. It appears in the Oct 6, 2011 issue of the magazine.
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5 comments:
middle class serfdom
Reality Math
Jazz,
WASF. The next thing you know, you'll be trying to tell me the Lions beat KC 48-3.
I believe it's the entire TNR article, presented as a public service. (Intellectual property is theft!)
And thanks for the link. Needs to be more widely noticed, & I haven't heard much about it yet.
"...this tragic view of the last 40 years -- 'middle class serfdom.' Reagan and Bush II destroyed America. WASF."
2011 less 40 = 1971
1971 = "Reagan and Bush II" ??
If you divide CMDEBT by WASCUR (Compensation of Employees: Wages & Salary Accruals) it looks like your graph but reaches back closer to 1950.
The number was increasing rapidly even in the 1950s. Was that Reagan's fault, too?
Art -
Where are the big increases on this graph? Looks like the 80's and the naughts to me. Ergo, Reagan and Bush.
JzB
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