Only 3% of US Population can afford High End Audio

[NOMBEDES]

Sept 4 (Reuters) - The gap between the richest Americans and the rest of the nation widened after the Great Recession, a survey by the Federal Reserve showed on Thursday, suggesting deepening U.S. income inequality.

 

Though incomes of the highest-earners rose, none of the groups analyzed by the Fed had regained their 2007 income levels by 2013, underscoring deep scars from the financial crisis and its aftermath.

 

The data comes from a massive survey of consumer finances conducted by the Fed Board of Governors every three years. Many other studies have also shown the lasting effects of the recession and documented rising income disparity in the United States.

 

The Fed survey released suggests that wealth and income is concentrated not just within the top 1 percent, as some analyzes have suggested, but actually among a slighly broader slice of the ultra-rich: the top 3 percent.

 

From 2010 to 2013, average income for U.S. families rose about 4 percent after accounting for inflation, the survey showed. All of the income growth was concentrated among the top earners, the survey showed, with the top 3 percent accounting for 30.5 percent of all income.

 

The disparity was even greater by wealth, with the top 3-percent holding 54.4 percent of all net worth in 2013, up from 51.8 percent in 2007 and 44.8 percent in 1989. (end quote)

 

 

I wonder how many of the top 3% have an active audio hobby?

[CatManDo]

I don't get your point.

 

Many people "who can't afford high end audio" always have the latest iPhone. It's a question of priorities. You don't need to be rich to own a very good audio system.

[Priaptor]

I don't get your point.

 

Many people "who can't afford high end audio" always have the latest iPhone. It's a question of priorities. You don't need to be rich to own a very good audio system.

 

Neither do I

[alfe]

Poor American, in some African countries only 3% can have 3 meals a day.

[NOMBEDES]

I don't get your point.

 

Many people "who can't afford high end audio" always have the latest iPhone. It's a question of priorities. You don't need to be rich to own a very good audio system.

 

 

 

 

1. What does an iPhone have to do with "High End Audio"?

 

2. Agree, you do not have to be rich to own "a very good audio system."

 

3. To be able to afford a "high end audio system" you would have to have a very nice income, and as the Reuters article (supra) states, there is a growing concentration of income and wealth in the top 3% of the US population.

[wgscott]

But being able to afford a $150K system (before USB and power-cords) to listen to a bunch of '60s music with people singing about changing the world is what this hobby is all about.

[Priaptor]

1. What does an iPhone have to do with "High End Audio"?

 

2. Agree, you do not have to be rich to own "a very good audio system."

 

3. To be able to afford a "high end audio system" you would have to have a very nice income, and as the Reuters article (supra) states, there is a growing concentration of income and wealth in the top 3% of the US population.

 

I still don't get your point. What is it you want or would like to see? The confiscation of wealth from the "top 3% of the US population" and buy high end audio equipment for the 97%? Whatever point you are trying to make is pretty obtuse.

[esldude]

Well those that can't afford a real high end system of $150k can always go with this for barely over a third the cost.

 

The Self-Contained Hootenanny - Hammacher Schlemmer

[wgscott]

I still don't get your point. What is it you want or would like to see? The confiscation of wealth from the "top 3% of the US population" and buy high end audio equipment for the 97%? Whatever point you are trying to make is pretty obtuse.

 

Given the present trend, simply slowing down the increasing rate of transferring the wealth to the top 3% would probably suffice.

[orgel]

Well those that can't afford a real high end system of $150k can always go with this for barely over a third the cost.

 

The Self-Contained Hootenanny - Hammacher Schlemmer

 

It's got "99 Red Balloons." Sweet!

 

--David

[orgel]

Given the present trend, simply slowing down the increasing rate of transferring the wealth to the top 3% would probably suffice.

 

Are you angling for another "discussion" of class envy? Please, just let it go.

 

--David (aka "Red Dave")

[Priaptor]

Given the present trend, simply slowing down the increasing rate of transferring the wealth to the top 3% would probably suffice.

 

Sticky subject between politicians with their political wealth/power and the oligarchs and each controlling each other each enriching each other.

 

We need a do over in DC and get rid of the "professional" politicians but unfortunately the only way to do that is for Americans to become smarter and stop buying into the absurd rhetoric. Since I have little hope for Americans becoming smarter, the effect will be a continuung trend of income disparity.

 

I would like to see a linear regression analysis comparing intelligence of the electorate with income disparity. My hypothesis is the dumber Americans have become(easily measured by a multitude of metrics of intelligence) will show a linear relationship with income/wealth disparity.

 

Stupidity is the great enabler of evil.

[ErikM]

I think there's a mighty big difference between having a really good system and stupid expensive.. I think most folks that work and have a decent income, could if they desired put together a nice system.. $3K will get someone a very decent entry level 2 channel setup.

 

Thing is most normal middle class folks aren't into hifi as a hobby.. I suspect that most discretionary income is spent on things like vacations or a new TV.. maybe some new furniture and dining out..

 

Also maybe we could have a Jo Mama section where all the political and religious discussions can go...

[elcorso]

Poor American, in some African countries only 3% can have 3 meals a day.

 

The same 3% in those countries have problems with overweight and consequences: Diabetes , high cholesterol and blood pressure , that cause the rich countries maladies. But Americans doesn't need to be in the privileged 3% to get seek.

 

My very small country total population is about the half of the 3% richest population in America.

 

3% richest population in America is about 9 millions people, but I don't think there is this quantity of audiophiles in the whole world.

 

Anyway, statistics are the more inexact science , as I can see... , at least as an audiophile point of view.

 

Roch

[dallasjustice]

Many regular folks can afford to hear live music. It doesn't get any more high-end than this:

 

[new_media]

But being able to afford a $150K system (before USB and power-cords) to listen to a bunch of '60s music with people singing about changing the world is what this hobby is all about.

 

I want to listen to a bunch of '80s music with people singing about social injustice on mine.

[wwaldmanfan]

Who here has a $150K audio system? Someone must.

 

I don't know how to set up a poll on this site, but would be interested to see what memebers have spent on their primary audio system. Maybe someone could create this poll, or explain how to do it.

Your total investment would include your:

 

• digital music server/dedicated music computer/music library storage device(s)

• turntable/cartridge/phono preamp (if applicable)

• SACD/DVD-Audio/CD player

• DAC

• amplification

• speaker system--headphones, too, if you use them at home for critical listening

• audio cables (USB, digital, optical, interconnects, speaker, etc.)

• power conditioning/distribution/power cables

• acoustic room treatments and/or specialty isolation mounts for your components

• audio software and remote control apps

 

Do not include what you have spent on music.

[spdif-usb]

Thing is most normal middle class folks aren't into hifi as a hobby.. I suspect that most discretionary income is spent on things like vacations or a new TV.. maybe some new furniture and dining out..

...Or blackjack and hookers. (OK, I agree... not very funny).

[sandyk]

...Or blackjack and hookers. (OK, I agree... not very funny).

 

Do you need to get elected as a member of parliament, or become the Mayor to join that club ?

[Stereolab42]

I want to listen to a bunch of '80s music with people singing about social injustice on mine.

 

I'd rather listen to a bunch of '70s music about magical snow dogs.

[Isaacc7]

I was going to suggest that the price of good audio reproduction has never been lower but it looks like this thread has degenerated into politics and economic blathering.

[wgscott]

I was going to suggest that the price of good audio reproduction has never been lower but it looks like this thread has degenerated into politics and economic blathering.

 

As opposed to high-brow generic blathering?

[dallasjustice]

I was going to suggest that the price of good audio reproduction has never been lower but it looks like this thread has degenerated into politics and economic blathering.

 

I agree except speakers. They are still very expensive. Everything else is much lower in price and much higher in performance.

 

Many folks are obsessed with gear ("Parts Jockeys") and not listening to music. They can't accept that technology has greatly reduced prices and increased performance. This view is derived from a faulty understanding of both technology AND economics.

[elcorso]

Who here has a $150K audio system? Someone must.

 

I don't know how to set up a poll on this site, but would be interested to see what memebers have spent on their primary audio system. Maybe someone could create this poll, or explain how to do it.

Your total investment would include your:

 

• digital music server/dedicated music computer/music library storage device(s)

• turntable/cartridge/phono preamp (if applicable)

• SACD/DVD-Audio/CD player

• DAC

• amplification

• speaker system--headphones, too, if you use them at home for critical listening

• audio cables (USB, digital, optical, interconnects, speaker, etc.)

• power conditioning/distribution/power cables

• acoustic room treatments and/or specialty isolation mounts for your components

• audio software and remote control apps

 

Do not include what you have spent on music.

 

Bold is mine.

 

I have never quantified what I consumed in music (software) and do not want to, but I guess that is more than what I spent on equipment.

 

The only advantage is that the music stay and I don't have to renew it or repair it , rather sounds better every day, thanks to new technology.

 

Roch

[Cycleman]

Who here has a $150K audio system? Someone must.

 

I don't know how to set up a poll on this site, but would be interested to see what memebers have spent on their primary audio system. Maybe someone could create this poll, or explain how to do it.

Your total investment would include your:

 

• digital music server/dedicated music computer/music library storage device(s)

• turntable/cartridge/phono preamp (if applicable)

• SACD/DVD-Audio/CD player

• DAC

• amplification

• speaker system--headphones, too, if you use them at home for critical listening

• audio cables (USB, digital, optical, interconnects, speaker, etc.)

• power conditioning/distribution/power cables

• acoustic room treatments and/or specialty isolation mounts for your components

• audio software and remote control apps

 

Do not include what you have spent on music.

 

Like this list.

 

I would just add to total investment what we've spent on racks or other furniture to hold most or all of this equipment.