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Good lord, this is the most stark portrayal I’ve seen of this.
Holy crap, over nine years?
[Tweet from Mark Mellman: “Why the poor can have ‘things’ but can’t escape poverty” with a chart showing the decline in cost over time of goods (especially steep for electronics) and the simultaneous increase in cost over time of needs like housing, healthcare, and education.]
Keep telling people not to spend their money on shoes, though. That’ll really help.
This is why it’s entirely reasonable that someone who can’t afford to purchase health insurance or pay college tuition has decent clothing, a “nice” TV (all TVs are “nice” now) or a smartphone. And also why people should stop making presumptions about how other people spend money.
It might also be worth noting that there are a buttload of resources where people can access cheap/affordable/refurbished/marked down goods like clothes and electronics, and I wonder if that has anything to do with the huge boner we have to overproduce consumer goods and to keep coming out with new, improved models (at least as far as electronics go) at a very rapid pace.