Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Everything that appears on this blog is the copyrighted property of somebody. Often, but not always, that somebody is me. For things that are not mine, I either have obtained permission, or claim fair use. Feel free to quote me, but attribute, please. My photos and poetry are dear to my heart, and may not be used without permission. Ditto, my other intellectual property, such as charts and graphs. I'm probably willing to share. Let's talk. Violators will be damned for all eternity to the circle of hell populated by Rosanne Barr, Mrs Miller [look her up], and trombonists who are unable play in tune. You cannot possibly imagine the agony. If you have a question, email me: jazzbumpa@gmail.com. I'll answer when I feel like it. Cheers!

Sunday, September 18, 2011

Drowning in Debt

A different pair of data sets tell the same story - with a very similar look - as the last graph in this post.

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.


Stagflationary Mark said...

middle class serfdom

Reality Math

nanute said...

WASF. The next thing you know, you'll be trying to tell me the Lions beat KC 48-3.

M. Bouffant said...

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.

The Arthurian said...

"...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?

Jazzbumpa said...

Art -

Where are the big increases on this graph? Looks like the 80's and the naughts to me. Ergo, Reagan and Bush.