In my opinion, this is an absolutely major theme in the coming years. A massive wage arbitrage has opened between the US and its competitors. The overwhelming majority of people in the US have no idea just how much more money they make than the Japanese, French, British, etc.
@JeffWeniger This is the average, is this showing anything more than the wealthy 1% dragging up the mean with their asset ownership and value? Real median a better much gauge for the 90%. US is on a South African trajectory.
@DonMiami3 @JeffWeniger This is a chart on wages, so asset income doesn't factor. However, the median holds as well. U.S. has top median income of any large country by far, and top 5 in the world any way you slice it, PPP or otherwise.
@DonMiami3 @JeffWeniger It’s the tech and corporate salaries that have been out of control. Even local governments pay six figures.
@DonMiami3 @JeffWeniger Imo America has such distorted tails top and bottom of spectrum. Cut off top and bottom 3+/-% and then how does it look?
@DonMiami3 @JeffWeniger Disagree completely, wages in the US/Europe started to really separate about 20 years ago. It’s crazy.
@DonMiami3 @JeffWeniger My exact thoughts. Most Americans today are low middle class.
@DonMiami3 @JeffWeniger Cynically, for the same reasons.
@DonMiami3 @JeffWeniger That's not even the average income (which is in the $30k's in the USA). It appears to be some sort of measure of GDP/Capita.
@DonMiami3 @JeffWeniger A lot of this is simply the strong dollar. Dollar is way way over priced. Will get crushed when Fed finally cuts. And wage thing will resolve itself.
@DonMiami3 @JeffWeniger Do the super rich get wages? lol
@DonMiami3 @JeffWeniger One bright spot is the bottom earners saw the biggest % wage gains last year. For once.