Comments by "IIIRattleHeadIII" (@badass6300) on "The Death Of The Middle Class: Why Everyone Feels Broke" video.

GDP is one of the worst metrics to measure how well an economy is doing. What we should look like is purchasing power.
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@thetaxgawd GDP takes into a count the money the governments print. Another example is if I sold you a chair for 5$, then you sold it back to me for 5$ and we repeated that 2 more times, we just added 30$ to the GDP, but we've effectively done nothing. The purchase and selling of stocks also goes to the GDP and that's not productive at all either.
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Homes in cities where there are many jobs and many types of jobs actually cost 9-12x the median yearly salary, it's 7x if you look at places with next to no population and work. Back in the day when we weren't so centralized that wasn't a problem.
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nicolasgirard2808 The funny thing is that my country has went from 10-11 million population down to 6.5 million from 1991 to 2024, while having 3-4x more homes in cities compared to 1991, yet the home prices relative to the median salary are 9-12x as well. 36-40%+ of homes in cities are empty. It's not supply and demand. It's companies and rich people buying them out, or straight up building them and then using algorithms to determine the maximum price they can get, which is a gray area, but technically price fixing...
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@hmj2308 the purchasing power of the median salary. If food exceeds 10% for a single person and 20% of the median salary for a family of 4, that's a bad economy. If the median home in populated areas costs more than 2-3x yearly median salaries that's a bad economy. If the median car costs more than 0.75-1x median salaries that's a bad economy. If regular clothing exceeds 5-10% the median salary that's a bad economy. If electricity and water bills exceed 1% of the median salary that's a bad economy. And we are talking NET salary here, miss me with the Gross.
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@BOSSDONMAN true, non-productive jobs count towards the gdp.
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@BOSSDONMAN true, they don't count people not seeking jobs.
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@phoebehill953 no problem.
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@xxgmgmoneyxx1 It factors way too many things and neither of them matter. It doesn't factor GDP.
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@xxgmgmoneyxx1 GDP factors in way too many irrelevant things, but it doesn't factor purchasing power, which is what matters the most.
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@kylegross1081 Yes, debt should be forbidden along with public stock. The literal cause of the vast majority of financial crisis throughout history.
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@EmilKrystev If there's a new way, I'll be the first in line But it better work this time
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@aureate I said PUBLIC stocks. You can have private stocks.
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@elbowstrike Why year 2000?
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@JonathanMacArthur The first part is true, the second isn't, they still work, but it's super rewarding and the stress is much lower as even if they completely fail they'll have millions to fall upon and retire.
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@razzberry1262 Private stocks are great, public ones are speculation that needs to go away. Speculation driving the value of a stock is madness. And yes no money should be printed beyond what the market is worth, but since it's worth on speculation that screws things up even more.
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@Rob-me8vp true
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nicolasgirard2808 Bulgaria
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nicolasgirard2808 Bulgaria.
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nicolasgirard2808 Bulgaria
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