[RhysU]

> living paycheck to paycheck is now a commonplace middle-class experience

The article states this as fact. Seems wholly bogus, but perhaps I define middle class weirdly. I think of it as robust stability moreso than income earned. Anyone know a plausible source for the assertion?

[wtvanhest]

The middle class in America average about $50k in household income ($25k each).

Regardless of income, by definition, the middle class should always average out to basically break even unless we are in periods of rapid growth. This should happen because their willingness to pay for food and shelter is determined by what they make and eventually prices will catch up to income if income doesnt grow.

I imagine the concept I describe can better be explained by an economist.

[rhino369]

Price is determined by demand, yes, but also by supply. I'd pay an awful lot of money for food, but cheap industrial farming means I don't have to. Housing is more limited because the monopolistic nature of ownership, but there is a reason why suburbs grow, cheap land.

[morgante]

That's under the assumption that people don't want to save any money.

[VLM]

Its also under the assumption that a socioeconomic class that never amounted to more than 1% of a population historically, after temporarily booming in population, somehow isn't going to go away or back to historical norms. Sure the middle class can't disappear, just 75% of the population in manual labor factory jobs can't just disappear. Something can't happen because it would disturb my carefully crafted worldview. Sure.