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holy shit! Both of you! PLEASE DO THIS! That'd be AMAZING!
I'm not much a math person or econ person. Do you have any ideas on what that would like like? The Econ professor in the video said the real income is aka GDP. He was loosely speaking though, so I don't know if that's a one to one. I guess I could put something up and people will tell me how it's wrong? I don't mind that.
lol that's the BEST way to get the RIGHT answer on the internet. Put something up, say it's X and someone will tell you you're wrong and it's Y. Easier than asking how to do X. :-D
Whelp, here you go. It only does a quarterly GDP or "real income" analysis.
https://sh.itjust.works/post/37116488
I, too, am far from being either of those things, but it sounds like you could just track purchasing power to get a rough idea. Perhaps I'm misunderstanding it, but it seems to me that, if inflation or other factors have eaten into your purchasing power and you haven't gotten a corresponding raise to offset it, you can reasonably conclude that the economy is getting worse for you in your personal circumstances.
Although I think it's great to track that too, I don't think that includes wage earnings and such. Like for the Big Mac Index by the Economist listed. the price of a Big Mac doesn't say much about the income levels of who is buying it. It seems to be more focused on the cost of production instead of the person buying it. Minimum wage is still so low across the country and hasn't been raised for so long, that the price could be kept low. Again, not an economist, but that's my insecure take.