So why the pessimism... - Page 3 - PeachParts Mercedes-Benz Forum

Botnst · #31 10-20-2006, 04:46 PM

Two from Bureau of Labor Statistics and two from Cato Institute (IIRC).

cmac2012 · #32 10-24-2006, 05:02 PM

Quote:

Originally Posted by Botnst

The third graph is BLS:
Series Id: CES0500000006
Seasonally Adjusted
Super Sector: Total private
Industry: Total private
NAICS Code: N/A
Data Type: AVERAGE HOURLY EARNINGS OF PRODUCTION WORKERS

According to the graph, wages are up. According to Greenspan, the growing gap between incomes of the top vs. the middle and the bottom is becoming so great as to threaten economic democracy.

I'm not saying you're intentionally trying to mislead with the graph, just that it can be misleading.

Botnst · #33 10-24-2006, 07:35 PM

Quote:

Originally Posted by cmac2012

According to the graph, wages are up. According to Greenspan, the growing gap between incomes of the top vs. the middle and the bottom is becoming so great as to threaten economic democracy.

I'm not saying you're intentionally trying to mislead with the graph, just that it can be misleading.

Keerast Ahmitey, CMAC!

Not every graph can display every factor. You want to make a point with a freaking graph go get one that makes your point.

We need a law against rich people.

B

Hatterasguy · #34 10-24-2006, 07:59 PM

Yes the new reality is that the gap between the rich and everyone else is growing, and will continue to widen for the time being.

Botnst · #35 10-24-2006, 09:01 PM

I'm pretty sure that's a real phenomenon. I have actually looked at the BLS and census data from 2000 vs 1990 and there is a widening when you compare deciles. But what I cannot fathom is the degree to which the conveyor plays a role. Here's what I mean by that.

Imagine that upward (and downward) mobility are conveyor systems on which the taxpayer sits. For simplicity, let's just consider the upward trend. There is a continuum from one end of the conveyor to the other. Taxpayers get off and on at various places along the way and they move at different speeds because of circumstances beyond their control and because of circumstances under their control. From the bottom end there are lots of people continually arriving on the conveyor. As time passes and circumstances evolve, fewer people stay on the conveyor. At the far opposite end a few people continue to lengthen the end of the conveyor.

Bot

Hatterasguy · #36 10-24-2006, 11:13 PM

My explanation is a bit simpler, the middle class and poor have horrible money habits. They own no real assets. The rich on the other hand are doing just dandy since its an amazingly good time to make a lot of money fast.

With my BAC level I'm amazed at how that came out.

t walgamuth · #37 10-25-2006, 03:17 AM

Quote:

Originally Posted by Botnst

I'm pretty sure that's a real phenomenon. I have actually looked at the BLS and census data from 2000 vs 1990 and there is a widening when you compare deciles. But what I cannot fathom is the degree to which the conveyor plays a role. Here's what I mean by that.

Imagine that upward (and downward) mobility are conveyor systems on which the taxpayer sits. For simplicity, let's just consider the upward trend. There is a continuum from one end of the conveyor to the other. Taxpayers get off and on at various places along the way and they move at different speeds because of circumstances beyond their control and because of circumstances under their control. From the bottom end there are lots of people continually arriving on the conveyor. As time passes and circumstances evolve, fewer people stay on the conveyor. At the far opposite end a few people continue to lengthen the end of the conveyor.

Bot

i like this explanation.

how do i get on the one that goes up?

tom w

Botnst · #38 10-25-2006, 08:20 AM

I think you have to cleverly choose the right parents or you have to work your ass off in a field that people pay be bucks for or you have to have a very rare talent. Or get into politics, of course.

B