Noah smith, liar or dumbass?

[Kat Kid]

It is possible he is both.

[michigancat]

Interesting Twitter character for sure

[sys]

you think the data presented are misleading?

[Kat Kid]

I guess it depends on what it purports to show. Most of the arguments I hear about these generational comparisons have to do with the inflation in costs of things like housing which is not captured by this because it is looking at income and not wealth.

Overall I think the chart is non-responsive to the claims I generally hear about inflation in costs of things that are assets or are associated with having a family while inflation of things like having a computer or tv have not.

[sys]

i think it just shows that younger cohorts in the us have higher incomes at the same stage in life than did older cohorts, and that gen z does not diverge from that trend.  there could be some compositional effects that are distorting the data as presented, but it's not immediately clear to me that there would be.

it's true that the cost of housing has outpaced inflation more generally, but gen z is still spending less on housing than did older cohorts.  americans are still getting richer.

https://twitter.com/JeffreyKleintop/status/1780707675850064219

[steve dave]

yeah, I think real wages are up over the last 40 years. people are doing good as crap. people just like to bitch about grocery costs and housing and whatever. also keep in mind stuff we see as required to live today was luxurious years ago. we're fast on our way to the Wall-E lifestyle but still being slim because of miraculous GLP-1 miracle drugs.

[star seed 7]

I would love a wall-e lifestyle

[star seed 7]

Really all I need is the hover chair and I'm wall-e'd

[steve dave]

i think it just shows that younger cohorts in the us have higher incomes at the same stage in life than did older cohorts, and that gen z does not diverge from that trend.  there could be some compositional effects that are distorting the data as presented, but it's not immediately clear to me that there would be.

it's true that the cost of housing has outpaced inflation more generally, but gen z is still spending less on housing than did older cohorts.  americans are still getting richer.

https://twitter.com/JeffreyKleintop/status/1780707675850064219

Another fun thing in that chart is Gen X just pulling the ripcord and not working anymore

[kim carnes]

i think it just shows that younger cohorts in the us have higher incomes at the same stage in life than did older cohorts, and that gen z does not diverge from that trend.  there could be some compositional effects that are distorting the data as presented, but it's not immediately clear to me that there would be.

it's true that the cost of housing has outpaced inflation more generally, but gen z is still spending less on housing than did older cohorts.  americans are still getting richer.

https://twitter.com/JeffreyKleintop/status/1780707675850064219

kk, what is your response to this chart? 

[nicname]

yeah, I think real wages are up over the last 40 years. people are doing good as crap. people just like to bitch about grocery costs and housing and whatever. also keep in mind stuff we see as required to live today was luxurious years ago. we're fast on our way to the Wall-E lifestyle but still being slim because of miraculous GLP-1 miracle drugs.

People are convinced that we need what we want and that we want what we wouldn’t even notice if not for suggestion.

[kim carnes]

kk is the liar perchance?

[Kat Kid]

i think it just shows that younger cohorts in the us have higher incomes at the same stage in life than did older cohorts, and that gen z does not diverge from that trend.  there could be some compositional effects that are distorting the data as presented, but it's not immediately clear to me that there would be.

it's true that the cost of housing has outpaced inflation more generally, but gen z is still spending less on housing than did older cohorts.  americans are still getting richer.

https://twitter.com/JeffreyKleintop/status/1780707675850064219

kk, what is your response to this chart?

Well the "adjusted for household size" is doing a lot of work by itself, but saying housing "costs" are not much higher than a generation ago is ignoring the fact that housing is also an asset that is much more valuable than a generation ago.

So again, the chart is just non-responsive to people who make statements like "millenials are not even able to start having families because of the costs of housing, childcare and education which makes it very difficult."

In fact, this chart just uses that fact to point out that millenial income is higher because they don't have any kids and are single or DINKs. That doesn't mean that inflation has not affected their decision to have kids.

[steve dave]

not specifically topical but the same percentage of people own homes at the same age for all of recorded history. you hear people claim differently all the time. liars and dumbasses I believe.

[nicname]

Isn’t a lot of this just fear, or the instilling of fear into people’s minds for various purposes? A tale as old as time?

[Spracne]

Isn’t a lot of this just fear, or the instilling of fear into people’s minds for various purposes? A tale as old as time?

Meaning what, exactly?

[wetwillie]

I consider myself to be well versed in data display techniques and these last two charts have been let's call it unconventional.

[nicname]

Isn’t a lot of this just fear, or the instilling of fear into people’s minds for various purposes? A tale as old as time?

Meaning what, exactly?

Not these charts/posts, the opposite. Imagery and information/opinions making people feel life is too hard, tougher on this generation or that one. That life is getting worse, etc.

[Spracne]

Isn’t a lot of this just fear, or the instilling of fear into people’s minds for various purposes? A tale as old as time?

Meaning what, exactly?

Not these charts/posts, the opposite. Imagery and information/opinions making people feel life is too hard, tougher on this generation or that one. That life is getting worse, etc.

My impression is that it really depends where a person lives.

[kim carnes]

I consider myself to be well versed in data display techniques and these last two charts have been let's call it unconventional.

Meaning what, exactly?

[catastrophe]

not specifically topical but the same percentage of people own homes at the same age for all of recorded history. you hear people claim differently all the time. liars and dumbasses I believe.

Sure the trends are similar, but based on that chart it looks like millennials trend about 10% boomers at pretty much every age (with Gen X in between). Not earth shattering but seems like it’s something.

[wetwillie]

I consider myself to be well versed in data display techniques and these last two charts have been let's call it unconventional.

Meaning what, exactly?

The first thing I noticed was they appear to be hand drawn, thats not something you see everyday.

[steve dave]

not specifically topical but the same percentage of people own homes at the same age for all of recorded history. you hear people claim differently all the time. liars and dumbasses I believe.

Sure the trends are similar, but based on that chart it looks like millennials trend about 10% boomers at pretty much every age (with Gen X in between). Not earth shattering but seems like it’s something.

[Spracne]

Republicans HATE this one simple trick ...

[steve dave]

Isn’t a lot of this just fear, or the instilling of fear into people’s minds for various purposes? A tale as old as time?

nobody is manipulating information for anything other than $. fox news will fear monger to pee paw and mee maw and whatever liberal dogshit kat kid consumes will do the same to lil maw and baby paw but it's just for clicks/views. fear sells to morons. NOT CALLING KK A MORON OBVIOUSLY!