Someone posted this on another forum in a discussion about "buying American," and it struck me as kind of an interesting (albeit quite scary) thought:
You guys all know way more about financial growth and trends than me, and I'm curious as to what you have to say on the matter. What do you think?The bigger question is 'was the middle class growth from the late 40's through the 70's an anomoly'? My answer would be yes... a once in 500 year sort of thing that never happened before on a large scale (as far as I know) and probably won't happen again in another 20 generations.
One of the big problems IMO is that people think the sort of '30 years and out with a great retirement' was a sort of status quo through history. It was not. The middle class growth (i.e., millions of unskilled people making 'skilled' wages) IMO was a 'bubble' and an unsustainable allusion.