This is valid. A lot of economic theorems overlap on the notion that a strong middle class is the sign of a healthy, stable economy. So you understand why I said what I said, regardless.
TBH, many of those theorems are proving somewhat outdated, as the global economy cares less how the middle class of one single country is doing, and more how the middle class of the entire world is doing, since an American company can sell to the middle class anywhere on the planet. And they're actually doing pretty good. The trouble is, the mark of 'global middle class' is way below that of the American middle class, so ours is losing ground.
The global upper middle class has seen its income stagnate with zero growth over two decades for the 80th This appears to corroborate data showing stagnant real wage growth and other frustrations fueling populist politics in rich countries. This can be seen in the depth of the trough at the base of the elephants trunk. The global middle class has risen rapidly as select developing countries have begun to converge toward rich countries. Countries like China have lifted large impoverished populations into the middle class. This can be seen in the graphs peak at the elephants torso.
Kineth posted...
Still though, the overall lack of investment and unkempt infrastructure are also signs of a bad economy.
Infrastructure is mostly a government spending problem, though.
I agree with all of this though I don't agree with the notion that the global middle class supersedes the health of an individual nation's middle class; in fact, I would think that the collection of nations fostering their own middle class would lead to better results on the global scale.
If nothing else though, if we're supposed to return toward the median, which makes no sense as an economic goal, imo, it would suggest that our economy is fucked on how exorbitant the prices of goods are relative to other such countries.
As for infrastructure being a government problem, I'd agree. It suggests that our tax dollars are being used inefficiently, at best. ---
If you're not looking for any honest discussion, agreement, meeting halfway or middle ground, don't bother arguing with me. Selfish narcissists need not apply.