Why Folks Don't Feel The Economic Recovery

Very interesting article over at the "Atlantic.com" on "Why People Can't Feel the Economic Recovery".   The article hits several key points that have been covered elsewhere, but one of my take-aways is this chart that offers a visual representation on the affordability of many categories of things that people purchase.

This graph points out something I've commented on over the years.  One of the differences I've noticed that's different between now and when I was growing up is that things like college, health care and a home were relatively affordable back in the day while gadgets like televisions and microwaves etc were relatively expensive.  When I was a kid, you bought a TV and kept it till it died and couldn't be repaired.  Today you just throw it away as the cost to repair {if repairing it is even an option} is more than buying a new one.  The new TV by-the-way is likely cheaper on a relative basis and much better than the one it's replacing.  Of course you can't even discuss computers or cellphones because when I was a child these were the subject of science fiction.  The communicator that Spock, Kirk and McCoy used on "Star Trek" isn't as sophisticated as my iPhone {which is itself now two generations old}.

So today the "toys" are cheap but the basic goods have become much more expensive.  College education has soared beyond the point of comprehension for most folks and health care cost can ruin families.  In the long run, for most Americans, it may not matter if your new cellphone can hold 10,000 pictures or your new 80 inch 4K HD-3D TV can pick up a pimple on an actor's nose or gives you 300 channels if you can't afford where you live, you can't pay for your kid's college or you worry that your one step away from bankruptcy court if you get sick.

Anyway the article is informative and short.  I recommend that you give it a once over if you want to get an idea of why the average American is so downbeat about the economy.