Harvard researchers think they know why the booming economy still isn’t being felt by average Americans

7 comments

1. Good read. Thanks government for using a rent equivalent and not the true cost of owning a home, nice !

2. The boom is fueled by consumer credit and government spending rather than organic growth?

3. Haha… yeah

4. Government statistics lie who could have guessed that?

5. It took a group of economists from Harvard to figure out the official inflation rate is bullshit? Here I am thinking that’s been common knowledge for decades. It’s right in front of you if you look at how it’s calculated.

6. Bottom 50% Americans spend almost all of their money on shelter, food, gas and cars(to get to work), healthcare services, and to a big extent education. There is not much left over money to full up that basket with yachts, diamonds and other nonsense.

   Those vital services & goods have the highest inflation. If you add up that basket bottom 50% Americans inflation has been over DOUBLE the reported inflation for decades.

   The top %ers spend very little portion of their money on these vital for survival categories and therefore experience less inflation.

   Also pumping of the stock market doesnt mean much when [wealthiest 10% of Americans own a record 89% of all U.S. stocks](https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html)

   Yet these researches always love to play dumb and look for convenient scapegoats to blame.

7. All these researchers are still noodling and theorizing when all they need to do to understand why 80% of Americans are sour on this economy is sit down with a few average families in that 80% and go over their budget. Income and expenses. Yes, it’s that simple.