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In Reply to: Re: how about the IMF posted by Joseph on January 31, 2004 at 15:33:51:
Joseph,
Could you do some research to either validate or invalidate your hypothesis that the middle class in the U.S. is actually shrinking? We just went through a 3-year long recession, but the economic indicators are now showing robust growth in the economy. The employment figures ar always the last to turn around as the economy moves into another upturn in the cycle.
I think we might be getting a bit carried away by irrational pessimism. How about some solid evidence to support or not support the theory?
Note: Don't just look at the statistics for the number of people who earned a middle-class salary during the past three years. Doing so will only give you a false indication. To find a statistical trend, you need a larger statistical sample...say the past 20 years. (Ha! I knew my 3 semesters of college economics would finally serve a practical purpose!)
