How does one measure prosperity. This video compares and contrasts the family of 1970 with the family of today.
A transcript is on the web page.

The Prosperity Illlusion Part 1
January 9, 2014 8:09 AM



From the transcript here are some interesting comparisons of 1970 and today:

Let’s start with the family of 1970, long before America Online, iPhones, and, of course, President Clinton.
The 1970 family was a 1 income household saving 11% of their income, by comparison, a generation later in 2006 our more prosperous looking American has not just 1 income, but 2, and this family was putting away NOTHING!
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We are spending 34% LESS than they did on clothing than in 1970
14% LESS on food
55% less on appliances
25% less on cars and our maintenance is also down.

So where is the family who has been living in all this economic prosperity of the last 40 years been spending their money

Let’s start with all the things we HAVE to spend money on….
Health insurance has risen by 85%
Mortgage payments, despite low rates have risen 81%
Child Care, well that’s up 100% since that wasn’t really an expense pre-1970
Taxes have gone up by 28% due to the 2 income family. ..........

What we see is that where the government is involved heavily costs have risen dramatically. The government has stretched the 7 year mortgage of the 1920’s to what is now the very common 3 decade loan.
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