{"id":6294,"date":"2012-11-28T15:47:41","date_gmt":"2012-11-28T20:47:41","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6294"},"modified":"2012-11-28T15:47:41","modified_gmt":"2012-11-28T20:47:41","slug":"the-numbers-racket-at-steven-landsburg-the-big-questions-tackling-the-problems-of-philosophy-with-ideas-from-mathematics-economics-and-physics","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-numbers-racket-at-steven-landsburg-the-big-questions-tackling-the-problems-of-philosophy-with-ideas-from-mathematics-economics-and-physics\/","title":{"rendered":"The Numbers Racket at Steven Landsburg &#124; The Big Questions"},"content":{"rendered":"<p>Steve Landsberg points out the flaw in the often-quoted statistic that the median US worker has enjoyed hardly any income gain over the past few decades, with median wages growing from $25,000 in 1980 to $25,700 in 2005:<\/p>\n<blockquote style=\"background-color:#ddddff;\"><p>Each demographic group has progressed, but at the same time, there\u2019s been a great influx of lower income groups \u2014 women and nonwhites \u2014 into the workforce. This creates the illusion that nobody\u2019s progressing when in fact everybody\u2019s progressing.<\/p><\/blockquote>\n<p>Actual growth rates are as high as 75% for white women and 62% for nonwhite women.<\/p>\n<p>via <a href=\"http:\/\/www.thebigquestions.com\/2012\/07\/30\/the-numbers-racket\/?utm_source=dlvr.it&amp;utm_medium=twitter\">The Numbers Racket at Steven Landsburg | The Big Questions: Tackling the Problems of Philosophy with Ideas from Mathematics, Economics, and Physics<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Steve Landsberg points out the flaw in the often-quoted statistic that the median US worker has enjoyed hardly any income gain over the past few decades, with median wages growing from $25,000 in 1980 to $25,700 in 2005: Each demographic group has progressed, but at the same time, there\u2019s been a great influx of lower &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-numbers-racket-at-steven-landsburg-the-big-questions-tackling-the-problems-of-philosophy-with-ideas-from-mathematics-economics-and-physics\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Numbers Racket at Steven Landsburg &#124; The Big Questions&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[34],"tags":[2274,3551],"class_list":["post-6294","post","type-post","status-publish","format-standard","hentry","category-us-canada-countries-regions","tag-median-wage","tag-us"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Numbers Racket at Steven Landsburg &#124; The Big Questions - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Numbers Racket at Steven Landsburg &#124; The Big Questions - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Steve Landsberg points out the flaw in the often-quoted statistic that the median US worker has enjoyed hardly any income gain over the past few decades, with median wages growing from $25,000 in 1980 to $25,700 in 2005: Each demographic group has progressed, but at the same time, there\u2019s been a great influx of lower &hellip; 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events. 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By any measure, the middle class has certainly lost ground. Median household income has declined each of the last four years, a decline which has accelerated during the Obama \u201crecovery\u201d that\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1251,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/10\/median-u-s-household-income-continues-to-fall-after-the-recession-financial-news\/","url_meta":{"origin":6294,"position":1},"title":"Median U.S. Household Income Continues to Fall after the Recession &#8211; Financial News","author":"ColinTwiggs","date":"October 10, 2011","format":false,"excerpt":"Gordon W. Green Jr. and John F. Coder, former Census Bureau officials, wrote a report based on Census data that explored household incomes during and after the recession. They found that starting in June 2009, at the official end of the recession, up to June 2011, the inflation-adjusted median household\u2026","rel":"","context":"In &quot;US &amp; Canada&quot;","block_context":{"text":"US &amp; Canada","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/us-canada-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5453,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/13\/household-income-falls-to-lowest-point-since-1995\/","url_meta":{"origin":6294,"position":2},"title":"Household Income Falls to Lowest Point Since 1995","author":"Colin Twiggs","date":"September 13, 2012","format":false,"excerpt":"By YUVAL ROSENBERG, The Fiscal Times: Median household incomes adjusted for inflation fell 1.5 percent to $50,054. That\u2019s 8.1 percent lower than it had been in 2007, the year before the recession, and almost 9 percent lower than the peak income level reached in 1999. The last time median household\u2026","rel":"","context":"In &quot;US &amp; Canada&quot;","block_context":{"text":"US &amp; Canada","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/us-canada-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52731,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/us-consumer-incomes-and-credit-card-debt\/","url_meta":{"origin":6294,"position":3},"title":"US consumer incomes and credit card debt","author":"Colin Twiggs","date":"May 13, 2024","format":false,"excerpt":"Many market commentators talk about the struggling US consumer, with rising costs forcing them to take on expensive debt, but this is not borne out by the data. Real disposable personal income per capita (blue below) reached $50.4K in March, compared to the pre-pandemic peak of $48K in Feb 2020.\u2026","rel":"","context":"In &quot;Debt Levels&quot;","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"Real Disposable Personal Income Per Capita & Government Transfers","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-05-12-realdspi-percapita.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-05-12-realdspi-percapita.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-05-12-realdspi-percapita.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":9542,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/03\/23\/australias-housing-affordability-crisis\/","url_meta":{"origin":6294,"position":4},"title":"Australia&#8217;s housing affordability crisis","author":"ColinTwiggs","date":"March 23, 2014","format":false,"excerpt":"This private submission by Michael Dromgool to Australia's Housing Affordability Inquiry identifies supply restrictions as the key cause of the current housing affordability crisis: Traditionally the flexible forces of demand and supply in the property market self-managed the development of land for housing. Development occurred in locations where and when\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4619,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/15\/the-institute-for-fiscal-studies-biggest-one-year-fall-in-middle-incomes-since-1981\/","url_meta":{"origin":6294,"position":5},"title":"The Institute For Fiscal Studies &#8211; Biggest one-year fall in middle incomes since 1981","author":"Colin Twiggs","date":"June 15, 2012","format":false,"excerpt":"\u201cThe fall in median income in 2010\u201311 of 3.1% was the largest one-year fall since 1981 and returned it to the level last seen in 2004\u201305,\u201d says Jonathan Cribb, a Research Economist at the IFS. \u201cThis was driven largely by a decline in real earnings as the impact of the\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6294"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6294\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}