Recently, I came across a very interesting economic observation: Americans are generally shouting "I can't make it," but the data tells a different story.

Let's look at some key figures first. Since before the 2019 pandemic until now, U.S. prices have increased by about 20%. It sounds alarming, but the median hourly wage for workers has increased by 25-30% during the same period. After adjusting for inflation, the goods and services that an average American worker can buy with one hour's work are actually more than before the pandemic. This is the so-called "mirage" phenomenon — it seems unaffordable, but in reality, financial conditions have improved.

What is the most direct evidence? Americans are still consuming. If they really couldn't make it, they would have tightened their wallets long ago. But the reality is that consumption data continues to strengthen, indicating that most people's actual purchasing power has not declined.

Comparing this to Taiwan is interesting. Similarly benefiting from AI and semiconductor industry-driven GDP growth, asset values are also rising, but the problem lies in uneven wage growth, coupled with high housing prices and income-to-price ratios, leading most people to not feel the economic dividends. Americans' "can't afford" might be a psychological illusion, while Taiwan's problem seems more tangible — income can't keep up with the rise in asset prices.

What this actually reflects is the structural differences of different economies. Sometimes data and feelings are out of sync, but in the long run, actual purchasing power is the most reliable indicator to understand the situation.