In April, 1980, #inflation was 18% and #income was declining by 8% a year. One thing from this article that sticks are the anecdotes about people agonizing over using their savings to cover bills - especially in light of the stat that 4 in 10 #Americans in 2023 couldn't cover a $400 emergency expense.

#personalfinance #economy #economics #banking #election2024

We estimate that income for those below the 90th percentile would have been 67 percent higher in 2018 had income growth since 1975 remained as equitable as it was in the first two post-War decades.

https://www.rand.org/pubs/working_papers/WRA516-1.html

Who, alive in 1975, would have realised he/she was experiencing peak civilisation?

#genx #boomer #income