Month: July 2023

In various previous posts, I have discussed how American consumers seem to be struggling more than the media wants us to believe. For example, consider the following posts: The basic narrative here is that despite politicians touting the success of the economic recovery from the depths of the COVID-19 lockdowns, millions of average middle-class people…

Over the past several months, I have been discussing how American consumers are experiencing considerable financial stress today. This should be fairly evident by looking at real wages, which are the average wages earned by consumers after adjusting for inflation. In May 2023 (the most recent month for which data is available), real hourly wages…