October 2014

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« The Economic Condition of Poor Americans (and the rest of us) Continues to Improve | Main | Yet One More on Things Getting Better »

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I think you should make another update and put a table with the below poverty line households in India or Russia to better get the message accross.

Great post. I feel good when rich people buy many highest-end stuff at high prices. This is a first step of a process that allows me to buy this stuff for a reasonable price (reasonable relative to my constraints of course). So let "the rich" have an iPhone first. "They" are proud of having the newest stuff at highest prices. I'm fine with already tested stuff at the lowest (competetive) price. Fair deal, isn't it?

No matter how logical and data-driven the argument is in support of a free American economy, there will be countless emotion-packed anecdotes of a single mother somewhere, who is drowning in poverty and oppression, to counterbalance it. While I applaud the intellectual honesty of this and previous posts on this topic, you really are preaching to the choir. Isn't there a single uplifting STORY behind the numbers to which you can point? If not, your research will simply be ignored and dismissed as being "not within the circles of accepted economic thought."

Makes me proud to have worked most of my career so far in the Cellphone and PC industries.

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