Why do people do this? That's not just wrong, or even laughably wrong, it's completely made up nonsense. FRED doesn't have PPP median income, but here's GDP per capita PPP. A little more than double what it was in 1970: https://fred.stlouisfed.org/series/RGDPCHUSA625NUPN
(You can recover PPP median income if you like by pulling in the nominal GDP and median and multiplying by the fraction, but I'm too lazy to do it for you.)
You are wrong. You are VERY wrong. Your intuition about the state of the world has been colored by a bunch of vibes you've been fed that don't have any basis in fact. At all.
It seems to me that you're believing cherry picked statistics that show what you want to believe, and you think that I'm doing the same, which is entirely fair.
It's clear we're not gonna agree, but thanks for the discussion regardless. It's always interesting to see the perspective of the people I disagree with. Cheers
It's cherry picking because you choose to reference GDP, which imo is not remotely relevant to the conversation, instead of referencing relevant metrics like Purchasing Power
I straight up told you how to recover it. And the graph you just posted is CPI! (Which, to be clear, even though you won't listen, is nothing remotely to do with PPP analysis) You're confusing inflation with value! I give up.
(You can recover PPP median income if you like by pulling in the nominal GDP and median and multiplying by the fraction, but I'm too lazy to do it for you.)
You are wrong. You are VERY wrong. Your intuition about the state of the world has been colored by a bunch of vibes you've been fed that don't have any basis in fact. At all.