Conditions for the Poor Continue to Improve

[Toro]

Or at least, they had been until the financial crisis.

The Economic Condition of Poor Americans (and the rest of us) Continues to Improve - The Austrian Economists

 

[Truthmatters]

There were lots of second hand items arround while the credit orgy was taking place.

 

[Limey]

"% of households with..." raw data indicators are not of a sufficient quality to measure changes in economic conditions. We'd at least need to refer to a consensus measure of poverty, where goods deemed to be necessities are determined through questionnaire approaches. Even then we only have a static understanding of deprivation. A better measure would look at income mobility, with some reference to inter-temporal income distributions. It should be noted that, if anything, the US is experiencing greater stagnation in its social mobility rates. The poor therefore can expect longer periods of relatively low consumption levels, ensuring a dynamic deterioration in their economic condition

 

[SFC Ollie]

Or at least, they had been until the financial crisis.

The Economic Condition of Poor Americans (and the rest of us) Continues to Improve - The Austrian Economists

Of course what your link doesn't say is that even the poorest Americans would be considered filthy rich in many parts of the world.

 

[Limey]

Of course what your link doesn't say is that even the poorest Americans would be considered filthy rich in many parts of the world.

The US does have higher absolute poverty rates (where needs are fixed) than their Western European counterparts. For example, by using international comparable data from the Luxembourg Income Study, we can ascertain that only Britain out-performs the US in the poverty stakes