Thursday, April 19, 2012

US Standard of Living Has Fallen More Then 50%

This is a great article that really lays it out. We all know that years ago, a working class man, could finance an entire family with a stay-at-home wife, providing a home, car and groceries for himself, her and the children. This investor lays out the numbers and the chart. One shocking statistic is this one.

On several occasions, I have glibly referred to how it now takes two spouses working to equal the wages of a one-income family of 40 years ago. Unfortunately, that is now an understatement. In fact, Western wages have plummeted so low that a two-income family is now (on average) 15% poorer than a one-income family of 40 years ago.

Think about that for a minute...two incomes today are LESS then ONE income 40 years ago. That's if both adult members in a household are employed which is today less and less. Things have changed and not for the better. Generation X, already has seen itself struggle, what will life be like for Generation Y, as more and more jobs disappear?--The Squawker

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