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realchrisrufo's profile
Christopher F. Rufo ⚔️
Christopher F. Rufo ⚔️
Christopher F. Rufo  ⚔️
@realchrisrufo

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Christopher F. Rufo  ⚔️

@realchrisrufo

Writer, @CityJournal. Senior fellow, @ManhattanInst. Married to @skprufo. Sign up for my free newsletter: https://christopherrufo.com/newsletter .

Pacific Northwest
christopherrufo.com/support
Joined March 2015

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    1. Oren Cass‏Verified account @oren_cass 20 Feb 2020

      Thread (1/16). How is that our economic statistics suggest workers have been making slow but steady progress in recent decades, while popular perception is that their family finances are coming under increasingly untenable pressure? I've been working on this, here's my answer:

      296 replies 6,899 retweets 15,856 likes
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    2. Oren Cass‏Verified account @oren_cass 20 Feb 2020

      2/ Punchline: Popular perception is correct. In 1985, the typical male worker could cover a family of four's major expenditures (housing, health care, transportation, education) on 30 weeks of salary. By 2018 it took 53 weeks. Which is a problem, there being 52 weeks in a year.pic.twitter.com/dPxmqNffOm

      100 replies 3,475 retweets 8,449 likes
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    3. Oren Cass‏Verified account @oren_cass 20 Feb 2020

      3/ Why do our inflation-adjusted data say otherwise? Because inflation does not assess affordability. You don't have to take my word for it. Here's a neat study by Nobel laureate Robert Shiller making the point, as cited by Fed economist Michael Bryan: http://econintersect.com/b2evolution/blog1.php/2014/07/10/alternative-measures-of-inflation-part-3-the-challenge-of-communicating-price-stability …pic.twitter.com/csnRkAGlFu

      14 replies 540 retweets 3,317 likes
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    4. Oren Cass‏Verified account @oren_cass 20 Feb 2020

      4/ For example, our inflation-adjusted data say car prices have not increased since the mid-1990s. Obviously, that's not remotely true. What economists are saying is that cars have gotten better so the higher sticker price doesn't reflect inflation, it reflects higher quality.

      25 replies 358 retweets 2,837 likes
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    5. Oren Cass‏Verified account @oren_cass 20 Feb 2020

      5/ Fair enough. But, if you're a family that needs to buy a minivan, while it's nice that the 2018 Grand Caravan ($26,300 in 2018) has many features the 1996 Grand Caravan ($17,900 in 1996) did not, you still face the problem that you need an extra $8,500 to buy one.

      59 replies 386 retweets 3,733 likes
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    6. Mark J. Perry‏Verified account @Mark_J_Perry 22 Feb 2020
      Replying to @oren_cass

      Measure in "time cost," the avg. worker in 1996 had to work 1,480 hours to buy the Grand Caravan. In 2018, the average worker had to work only 1,160 hours, a reduction of ~22% in time cost for a MUCH better vehicle that will 3 years longer. @swinshi @MichaelRStrain @stanveuger

      1 reply 1 retweet 4 likes
      Christopher F. Rufo  ⚔️‏ @realchrisrufo 22 Feb 2020
      Replying to @Mark_J_Perry @MichaelRStrain and

      Median-wage worker for this calculation?

      1:43 PM - 22 Feb 2020
      • 1 Retweet
      • 2 Likes
      • Bob Yoshie Furuhashi
      0 replies 1 retweet 2 likes

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