Darian S wrote: but in fact, the median income says a lot about the typical income levels, whether you like it or not.
If the numbers are not cooked. Large amount of underemployment, increasing amount of homeless and retail apocalypse do not a good picture paint.
Amazon only accounts for a small portion of lost retail sales, the massive loss of retail sales indicate consumers just don't have the cash even for simple purchases.
You seem completely confused.
Or relying on the usual "books are cooked" nonsense doomers must rely on, since they're always wrong.
Just like in science, trying to come up with meaningful data for huge datasets (like, say, counting retail sales for a massive economy for many years) via your intuition instead of careful measurement produces nonsense. That's why there are big organizations which do lots of work (and math) to do the measuring.
There IS no "massive loss of retail sales". Only a switch from inefficient brick and mortar stores, like expensive mom & pop stores with high prices and small selection, or hapless chains like Radio Shack, JC Penney, K-mart, Sears, etc, to cheaper, more convenient, more efficient internet sales (and prior to that, to big box sales).
Overall retail sales have grown every year recently except during the big recession, along with the GDP. More people with more income overall, buying MORE stuff.
Of course you won't believe me. But I looked it up. Every year the economy expands, total US retail sales are increasing, and projected to continue increasing.
For example:
https://www.statista.com/statistics/443 ... ail-sales/Another look, from 1992.
https://tradingeconomics.com/united-states/retail-salesThere is this thing called "Google", which lets you search for things.
Try "total US retail sales by year", for example.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.