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I came across this data on real (i.e., inflation-adjusted) household income. It explains precisely why Harris lost the election and highlights the corrosive effects of the 21.0% inflation during the Biden-Harris administration and the failure of Bidenomics. Twenty-seven states experienced their peak of median real household income during the Trump administration. Since then real median household income nationwide has declined by almost 1% ($81,210 in 2019 vs $80,610 in the most recent data).
It’s also fascinating to look at who’s not poorer. Top of the heap is Washington, DC, where median real household income is $111,000. That’s far ahead of the next highest — Massachusetts at $106,500. Working for or lobbying the federal government pays really, really well. Hopefully, the soon-to-arrive Trump-2 administration can repeat their pre-COVID success from the first go-round.
Discussion (17)
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Good post, Ekosj.
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foRCInG uS tO uSE goVErNmENt moNEy mAKes ouR lIvEs betTEr
pRIvAtE mONeY wOuLD bE TErriblE sO iTs ILlegAL
cEntRal pLAnNing MakEs oUr liVEs beTTEr
wE LiKe lOwer PRiceS fRom autOMatioN aND gLoBaLiZeD tRadE bUT wE neeD inFLation aNyWaY sO mY houSE goEs up.
""""""“ 2% ”"""""" inFlAtIoN mAKeS ouR lIveS bEtTer
lIbERtaRiAns dOn't lIVe iN tHe rEAl woRld
inFLation iS mAgiCK moNEy THat mAkEs mY houSE gO up.
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Life is supported by profits and wages. The Fed is pushing the wealth effect, which is just jacking up assets to get people to spend.
Supposedly 2/3 of the country lives paycheck to paycheck. Something like that.
The value of the US dollar, which they force you to use, has gone down 50% since 1998.
They force you into Medicare and Social Security, which are both actuarial disasters.
Most people sort of beat this by buying a house, with all of the expenses involved and the ill liquidity. Then you get 2008.
Then people whine about socialism and populism.
I am sick of experts.
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[EDIT: This Comment is not valid. Thanks and a hat tip to Bob Armstrong for pointing out my error]
Interesting data. They tend to support your conclusion.
But the data have two statistical anomalies. They look fishy.
The numbers of states in each equal sized range of values trend upward as you approach the mean of 0.7 from below, as you would expect in any such distribution.
The numbers increase to a peak, with 11 of 51 clustered at exactly 0.0%, but then collapses suddenly to zero. I would say the chances of this being explained by a typical random variation about the mean are almost nil.
Real data never look like that. Something or someone in the data gathering and consolidation process almost certainly has altered the numbers.
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Thanks, Ekosj. I always appreciate your posts.
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