[quote=harvey]A popular misconception is that the post WWII “Great Prosperity” is the definition of a “normal” or “good” economy.
It was good for the US, Japan, and a few Western European countries. But it was in no way “normal,” because there really is no normal.
It’s easy to to be fond of the good ol’ days of the 1950s and 1960s, especially if you were a middle class white American living in those times. But I have never seen any objective measure that shows economic prospects during the “Great Prosperity” were any better for the majority of the world’s population than they are today.
For just about everyone on the planet, 2015 is a better time than 1970 was.[/quote]
Agree most of these issues don’t apply to we Piggs who are in the top 10% or above, but, as the masses go, the majority of the population is struggling more than ever to secure the funds for an education, find a job in their field, buy a home, retire comfortably etc., etc.
Even though things may, in some ways, be generically better for all from an economic perspective in 2015 versus the past, imo, we still have huge challenges that threaten the sustainability of our economy. How long we can float the boat remains to be seen.
