Tag Archives: real household income

We Just Enjoyed the Last Christmas in America

The end of rising wages = the end of mass affluence: we just enjoyed the Last Christmas in America (TLCIA). As unemployment topped 10%, the January 1975 cover of Ramparts magazine blared: The End of Affluence: The Last Christmas in … Continue reading

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Can a National Quasi-Religion (Pro Sports) Go Broke?

Attending costly games is on the margins of the household budget. When the credit card gets maxed out, attending is no longer an option. Please understand I’m not suggesting professional sports isn’t the greatest thing since sliced bread: I’m simply asking … Continue reading

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