Then sit in ignorance. I certainly have a degree, and yes you are far from an expert.
That’s why I say you throw out buzzwords, because you don’t understand them or their application, you just inappropriately throw them in under the wrong context to make it sound like you know something. Ultimately the misuse shows you don’t.
Thisvis what is so ironic. You are disagreeing with someone with a degree in economics about economics which you admit you do not fully understand, so your answer is the guy who knows more than you must be lying. You are literally taking the things you don’t understand and using them as if that makes you more knowledgeable than an expert.
Your biggest problem is you are too emotional. You have a negative feeling about the people and entities who drive the economy and succeed and wish that everyone could just be the same when everyone has a different level to contribute abs produce. Economics.
The other laughable thing is you dispute things I literally see every day of my life, that you have absolutely zero knowledge of. I will every single day with people from
every walk of life at every level of income who buy and own homes and raise families.
Here is a fact for you to chew on. Roughly 1/3 of the mortgage loans in the US are made to families who’s income are below 80% of AMI (area median income) for the MSA they lived in. In an area like Boston that equals about $80,000 a year or less. In some lower income areas it’s as low as $40,000. Factory workers are buying homes every day.
Thank you for your post because you just proved yourself 100% wrong because the assumptions that are behind all of your post are completely incorrect.
There's a couple things wrong with applying the fact you just googled. Yes, it appears to be a fact (I didn't verify, cuz it doesn't really matter), but lets add context.
Most households have more than one income, so median income/household doesn't equate to median individual salary. Even with dual average factory level incomes in households, many of those households receive additional moneys, mostly from inheritance, but other means as well. The statistic you provided is fundamentally different than my statement. I say it's nearly impossible to buy a house and raise a family on just a factory worker's salary. Two factory workers salary in a house, maybe, but not one. Fifty years ago, a factory worker could raise a family and own a house without inheritance or second income.
I repeat, I never claimed to be an expert. In fact, most of what I have posted is 101 stuff, which I called out repeatedly.
If you do in fact have a "degree in economics", it likely has nothing to do with economics theory. Maybe some kind of procedural thing like a CPA, but I doubt even that. Ironically, for most of my adult life, my understanding of economics was very similar to the one you seem to have. I believed the stuff I was spoon fed through school and work about the value of "trickle down economics" and "population growth = consumption growth". Like most people, I was still stuck in the belief that globalization is going to continue to expand. It's only in the last 7 years that I've started learning
some of the
basics about economic theory, and those old myths have been dispelled. It's a massive and changing field that few people could truly become an expert on in a lifetime... something any real economist will tell you.
I have 2 actions items for you.
First, please provide the other fields in which you have degrees. That way, you don't get to pull this card again.
Second, if you already understand game theory (as any "expert" in economics would), please explain to me why game theory is a buzz word? Does that mean zero sum game theory isn't applied directly supply control and artificial scarcity strategies? Are you saying that the experts that routinely use the prisoner's dilemma to predict, describe and model agents' economic behavior, don't know what their doing? Game theory is fundament to economics theory. If you're not familiar with game theory, go spend an hour reading about it. That should be more than enough time for an average person to understand the basics of it. Then you will see how silly it is referring to game theory as a "buzz word" when it comes to economic theory.