Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work.

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1   Report Post  
Posted to rec.crafts.metalworking
external usenet poster
 
Posts: 556
Default Robot locomotives

On Saturday, June 17, 2017 at 12:47:51 PM UTC-4, Gunner Asch wrote:
On Tue, 13 Jun 2017 17:50:18 -0600, rbowman
wrote:

On 06/13/2017 01:47 PM, Richard Persing wrote:

The middle class is shrinking because a huge slice of what formerly was
middle class are now rich.


You are deluded.



http://www.mybudget360.com/us-househ...nce-recession/


Note that there's no source quoted for what they claim is a "new report that came out." That's because it's a crock of ****.

Here are the real numbers, which are up, not down since the beginning of the recession:

https://fred.stlouisfed.org/series/MEHOINUSA672N

--
Ed Huntress
  #2   Report Post  
Posted to rec.crafts.metalworking
external usenet poster
 
Posts: 4
Default Robot locomotives

On 6/17/2017 10:55 AM, wrote:
On Saturday, June 17, 2017 at 12:47:51 PM UTC-4, Gunner Asch wrote:
On Tue, 13 Jun 2017 17:50:18 -0600, rbowman
wrote:

On 06/13/2017 01:47 PM, Richard Persing wrote:

The middle class is shrinking because a huge slice of what formerly was
middle class are now rich.

You are deluded.



http://www.mybudget360.com/us-househ...nce-recession/


Note that there's no source quoted for what they claim is a "new report that came out." That's because it's a crock of ****.

Here are the real numbers, which are up, not down since the beginning of the recession:

https://fred.stlouisfed.org/series/MEHOINUSA672N


Correct.

Of course, that still doesn't say anything about the size of the middle
class in absolute numbers. Suppose for simplicity that there are 100
million households (it's actually about 125 million), and that it
remains constant (remember: simplicity). Suppose there are 60 million
that are middle class, with 35 million below middle class and 5 million
above it. Now suppose that at the next census, 8 million formerly
middle class families have dropped below the bottom income level for
being middle class, while another 12 million have moved *above* the
middle class and are now classified as upper income. The number of
middle class households has now fallen by 20 million, or 1/3, but 50%
more of the families that left the middle class are better off.

I'm not saying it happened anywhere nearly that dramatically, but that
is essentially what's happened. From the Wall Street Journal cited in
Forbes:



The latest piece of evidence comes from economist Stephen Rose of
the Urban Institute, who finds in new research that the upper middle
class in the U.S. is larger and richer than its ever been. He finds
the upper middle class has expanded from about 12% of the population
in 1979 to a new record of nearly 30% as of 2014.

'Any discussion of inequality that is limited to the 1% misses a lot
of the picture because it ignores the large inequality between the
growing upper middle class and the middle and lower middle classes,'
said Mr. Rose. The Urban Institute is a nonpartisan policy research
group.

https://www.forbes.com/sites/timwors.../#12cbf7be21c8

  #3   Report Post  
Posted to rec.crafts.metalworking
external usenet poster
 
Posts: 556
Default Robot locomotives

On Saturday, June 17, 2017 at 2:43:39 PM UTC-4, Richard Persing wrote:
On 6/17/2017 10:55 AM, wrote:
On Saturday, June 17, 2017 at 12:47:51 PM UTC-4, Gunner Asch wrote:
On Tue, 13 Jun 2017 17:50:18 -0600, rbowman
wrote:

On 06/13/2017 01:47 PM, Richard Persing wrote:

The middle class is shrinking because a huge slice of what formerly was
middle class are now rich.

You are deluded.


http://www.mybudget360.com/us-househ...nce-recession/


Note that there's no source quoted for what they claim is a "new report that came out." That's because it's a crock of ****.

Here are the real numbers, which are up, not down since the beginning of the recession:

https://fred.stlouisfed.org/series/MEHOINUSA672N


Correct.

Of course, that still doesn't say anything about the size of the middle
class in absolute numbers. Suppose for simplicity that there are 100
million households (it's actually about 125 million), and that it
remains constant (remember: simplicity). Suppose there are 60 million
that are middle class, with 35 million below middle class and 5 million
above it. Now suppose that at the next census, 8 million formerly
middle class families have dropped below the bottom income level for
being middle class, while another 12 million have moved *above* the
middle class and are now classified as upper income. The number of
middle class households has now fallen by 20 million, or 1/3, but 50%
more of the families that left the middle class are better off.

I'm not saying it happened anywhere nearly that dramatically, but that
is essentially what's happened. From the Wall Street Journal cited in
Forbes:



The latest piece of evidence comes from economist Stephen Rose of
the Urban Institute, who finds in new research that the upper middle
class in the U.S. is larger and richer than its ever been. He finds
the upper middle class has expanded from about 12% of the population
in 1979 to a new record of nearly 30% as of 2014.

'Any discussion of inequality that is limited to the 1% misses a lot
of the picture because it ignores the large inequality between the
growing upper middle class and the middle and lower middle classes,'
said Mr. Rose. The Urban Institute is a nonpartisan policy research
group.


Yeah, my son was a research analyst for them before he worked for McKinsey & Co. They're very straight shooters.


https://www.forbes.com/sites/timwors.../#12cbf7be21c8


I didn't chase that one down, but I have run the numbers on this before and it's actually pretty simple to do. You get the quintile breakdowns from IRS and then compare the percentages of increase and decrease in adjacent quintiles. It wasn't easy to find actual numbers of people represented by the quintiles, but it was available, and I got it eight or ten years ago.

--
Ed Huntress

  #4   Report Post  
Posted to rec.crafts.metalworking
external usenet poster
 
Posts: 4
Default Robot locomotives

On 6/17/2017 11:55 AM, wrote:
On Saturday, June 17, 2017 at 2:43:39 PM UTC-4, Richard Persing wrote:
On 6/17/2017 10:55 AM,
wrote:
On Saturday, June 17, 2017 at 12:47:51 PM UTC-4, Gunner Asch wrote:
On Tue, 13 Jun 2017 17:50:18 -0600, rbowman
wrote:

On 06/13/2017 01:47 PM, Richard Persing wrote:

The middle class is shrinking because a huge slice of what formerly was
middle class are now rich.

You are deluded.


http://www.mybudget360.com/us-househ...nce-recession/


Note that there's no source quoted for what they claim is a "new report that came out." That's because it's a crock of ****.

Here are the real numbers, which are up, not down since the beginning of the recession:

https://fred.stlouisfed.org/series/MEHOINUSA672N


Correct.

Of course, that still doesn't say anything about the size of the middle
class in absolute numbers. Suppose for simplicity that there are 100
million households (it's actually about 125 million), and that it
remains constant (remember: simplicity). Suppose there are 60 million
that are middle class, with 35 million below middle class and 5 million
above it. Now suppose that at the next census, 8 million formerly
middle class families have dropped below the bottom income level for
being middle class, while another 12 million have moved *above* the
middle class and are now classified as upper income. The number of
middle class households has now fallen by 20 million, or 1/3, but 50%
more of the families that left the middle class are better off.

I'm not saying it happened anywhere nearly that dramatically, but that
is essentially what's happened. From the Wall Street Journal cited in
Forbes:



The latest piece of evidence comes from economist Stephen Rose of
the Urban Institute, who finds in new research that the upper middle
class in the U.S. is larger and richer than its ever been. He finds
the upper middle class has expanded from about 12% of the population
in 1979 to a new record of nearly 30% as of 2014.

'Any discussion of inequality that is limited to the 1% misses a lot
of the picture because it ignores the large inequality between the
growing upper middle class and the middle and lower middle classes,'
said Mr. Rose. The Urban Institute is a nonpartisan policy research
group.


Yeah, my son was a research analyst for them before he worked for McKinsey & Co. They're very straight shooters.


https://www.forbes.com/sites/timwors.../#12cbf7be21c8


I didn't chase that one down, but I have run the numbers on this before and it's actually pretty simple to do. You get the quintile breakdowns from IRS and then compare the percentages of increase and decrease in adjacent quintiles. It wasn't easy to find actual numbers of people represented by the quintiles, but it was available, and I got it eight or ten years ago.


As I said, it's not as dramatic as my hypothetical case, but it /has/
happened, and in appreciable numbers.
Reply
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Robot locomotives [email protected] Metalworking 22 June 18th 17 07:38 PM
Robot locomotives [email protected] Metalworking 0 June 13th 17 01:08 AM
air compressor on new amtrak locomotives Jon Elson Metalworking 16 June 17th 10 04:18 PM
robot pushing another robot gappu Electronics Repair 0 May 16th 07 05:29 PM
Swap a fully functional Rhino Robot for a tabletop CNC? Wayne Lundberg Metalworking 0 May 14th 04 10:21 PM


All times are GMT +1. The time now is 10:28 AM.

Powered by vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright ©2004-2024 DIYbanter.
The comments are property of their posters.
 

About Us

"It's about DIY & home improvement"