BDS writes:

In the mid-60s and early 70s people also did not have multiple cell phones
(one for each family member), cable/satellite TV, satellite radio, "starter"
homes the size of small castles, home entertainment centers, or 2 brand new
cars (one an SUV) in the driveway. Today these are all looked at as
"necessities", and they consume what would otherwise be disposable income.

The real disposable income for equivalent lifestyle has significantly
diminished for the dwindling middle class.

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