this post was submitted on 17 Sep 2024
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They aren't necessarily US specific. Wages not keeping up with inflation and rising cost of living is a factor from South Korea to Japan to Singapore as well. Some countries muck it up themselves like China with their one child policy back in the day (even the Chinese fertility rate has dipped below 2.2, I think).
Well, it's only a very, very recent problem in Japan. They had stagnation for decades. Little to no change in wages, little to no change in prices. In 2011, I was making something like 33,000 USD per year there and living very comfortably with ample savings and what the Japanese considered to be a large apartment. It's a pretty affordable country, aside from travel. Or if you want to live in a fancy place in a desirable big city neighborhood.
(And yes, I have been to Japan since then and know that things have changed somewhat. It's still cheap compared to the US. Food is so cheap, it's amazing what you can get.)