Financial

Oh, those fiscally-responsible Republicans

Axios has an article on Trump’s love of debt. He’d borrow the first installment from Russia.

In the popular sci-fi movie series “The Matrix”, a handful of humans discover that the perception of reality has been artificially engineered by computer software. By taking the red pill¹ a person can be released from the deception, thereby seeing things as they truly are. About material “stuff”, I’ve had the same sort of epiphany.

Three years ago, we decided we needed to build a house. We weren’t pleased with our previous neighbourhood; and we happened on a piece of land that seemed to fit our needs. We began working with a builder to design a house. Despite our intent to build a smaller house, the design ended up being considerably larger than the house we were already in. Everything was to be custom-designed and fabricated. All of the fixtures were selected. We had spent hundreds of hours thinking about the designs, going to meetings, reading books, looking at photographs. It was an enormous investment of time and a significant investment of money.

Patricia Cohen’s piece “Middle Class, but Feeling Economically Insecure”¹ published yesterday in the New York Times raises several discrepancies between the economics of the middle class and one’s identification with that group. Reading the comments on the article I was struck by how divided Americans’ points of view are when it comes to the middle class and the causes of its distress. Clearly middle class wages have stagnated in the years immediately preceding and following 9/11. As the article points out, the median income in the US has not risen since 2000. Many of the commenters point to this and the feeling of insecurity and dispensability as a source of middle class angst. Others, fewer in number, point to a change in the baseline spending level. One commenter sums it up this way: