Brett Slagh

@UMich alum in Atlanta. BS, computer science, working in IT. Interested in politics, economics, philosophy, data, sports, and culture.

[Brett Slagh @BrettSlagh]

@tonyannett Support of Donald Trump and other populists is not explained by real, rational grievances. That's sort of the whole point

[Brett Slagh @BrettSlagh]

@bigseb31213 But as I pointed out at the top of the thread, for pensions (SS) specifically, that is not required or inevitable. The reforms needed to achieve sustainability are modest and don't represent an ever expanding portion of revenue.

[Brett Slagh @BrettSlagh]

@nmewrath @MysterySolvents Is the idea here that their spot on the sidewalk or under an overpass is their home, and it's offensive to imply that it's not?

[Brett Slagh @BrettSlagh]

@AbbyMartin A simpler explanation is that people simply don't want to believe inconvenient but true facts.

And the reason climate change is inconvenient is not due to a nefarious "war economy" that people are "trained to defend". It's because burning FFs is easier than making clean energy.

[Brett Slagh @BrettSlagh]

@bigseb31213 These reforms would keep the program solvent for at least 75 years! Which is about as far in the future as one can reasonably plan for

[Brett Slagh @BrettSlagh]

@Zamicol It's not true, though.

[Brett Slagh @BrettSlagh]

@dunbar422 @TheCAThomas @tonyannett Median age of US householders (primary person of the household) is 51.

[Brett Slagh @BrettSlagh]

@dunbar422 @TheCAThomas @tonyannett Median American family has $87k in retirement accounts

[Brett Slagh @BrettSlagh]

@extrarawpotato @LinkofSunshine Yes. It would take exactly five years if you accrued the same amount of simple interest every year, but since it is compounding annually, it will take less than that.

Actual time to double is 3.8 years, but you don't need to calculate it to get the right answer

[Brett Slagh @BrettSlagh]

@SamRo They are obviously trying to test whether you understand what inflation and interest rates mean. Not whether you understand that people can have multiple kinds of assets.

[Brett Slagh @BrettSlagh]

@SamRo Part of being an effective test taker is having a sense of what the question author was intending to get at.

With that in mind, it's clear in context that what the person "can afford" is in reference to the assets within the savings account being referenced.

[Brett Slagh @BrettSlagh]

@Audisms There are plenty of parallel circles where everyone in that age group is a yuppie making $90k+ salary with benefits, living in bougie high rises, traveling internationally, saving comfortably for retirement, spending outrageous amounts weekly on dining and entertainment, etc.

[Brett Slagh @BrettSlagh]

@KristySellsLV 59% higher*

[Brett Slagh @BrettSlagh]

@KristySellsLV The measure of median income that was $9,870 in 1970 (median family income) was $105,000 in 2024.

When using a more appropriate inflation-adjustment, $9,870 in 1970 is $66,700 in 2024. It's 59% today.

[Brett Slagh @BrettSlagh]

@xwanyex What is false or misleading about that simple claim? Crime literally did increase during the pandemic

[Brett Slagh @BrettSlagh]

@JohnRad15 CPI is biased upward because it does not properly account for substitution. PCEPI's chain weighting better reflects actual consumer behavior and is more accurate over long periods of time.

PCEPI also covers a broader set of items so it's more representative

[Brett Slagh @BrettSlagh]

@Intermarket_Dyn @MebFaber The average person doesn't know that real incomes are rising across the income distribution. They think that all economic gains have been captured by the elite.

[Brett Slagh @BrettSlagh]

@zeta_globin You made 3x median income and were paying 40% of the average Seattle rent, of course that's a comfortable position to be in.

Same is true today.