Are All Americans Becoming Poorer?

Yesterday, Mish posted some grim news regarding median income in the United States. While I would agree with anyone who states that this is bad news, I would caution readers to be careful before assuming that everyone is worse off. As Thomas Sowell would point out, people do not necessarily stay in the same economic status their entire life (though, they can). We can conclude a few things:

• Since the median is lower, a good portion of Americans have a lower real income than before 2010.
  
• Some items, like houses, oil, cars, et cetera have risen in price. However, some items, like computers, cell phones, and music have fallen in price.
  
• Since most of the necessary things have reason, we can state that many Americans are poorer in their financial needs.
  

I agree that politicians and candidates will discuss this grim news, but always be cautious about assuming that all of this applies to everyone, and that, in all circumstances, everything is worse now than in the past.