Good clip, but it could have been accented with a few more relevant statistics, not comparisons with living standards 105 years ago, but 20 or 30.
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Thanks, I don’t know what the idea was but as far as I am concerned it does wreck the whole comparison. I tried to make the case on this forum that (in some ways) we are worse off than forty years ago and was told that I should make comparisons to ten years ago.
Moreover, is your intention to argue that we are worse-off since your starting point, whatever that is? That's a tall order, and one that cannot be avoided by complaining about the 105-year data set.
Agree. But, I think one has to go back to the 60’s (40 to 50 yr’s ago) to start with the root cause. Beginning in the 60’s, a sense of entitlement began to foment within our youth that they should be granted all the creature comforts of life, regardless of ability to afford them. This is the era when the culture of purchasing by credit began. During this era Visa and MC cards literally passed out unsolicited. Many people used them without even knowing that their purchases must eventually be paid for. And, sadly, this culture has grown and grown. Now, people, regardless of their ability to pay, finance via sub-prime mortgages homes they can not afford, lease cars that they are upside down on from the get go. Buy on credit all sorts of toys such as big screen tv’s, bass boats, etc. And, while loading up on all of these items, never bother to secure medical and dental coverage for themselves or their family. Naturally, they leave these less desirable obligations to be paid by others. And so it goes...