The Missing Middle Podcast You’re “Middle Class” on Paper. So Why Do You Feel Broke?
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Feb 25, 2026 They unpack why rising incomes and low unemployment still leave many feeling strapped. The conversation highlights hidden costs like housing, childcare and tech that became necessities. They explore hedonic adjustments, the two-income trap and how nostalgia skews our view of past prosperity. The segment connects modern pressures to visible downward mobility for younger generations.
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Income Gains Mask Rising Participation Costs
- Middle class incomes have risen on paper yet many feel poorer due to uncounted costs.
- The episode cites a viral piece arguing the poverty line should be $130k–$150k because housing, childcare and tech now dominate budgets.
Technology Turned From Luxury To Obligation
- New technologies shifted from luxury to requirement, raising baseline expenses for working life.
- Sabrina Maddeaux points to smartphones, two-factor authentication and job demands that make owning devices mandatory, not optional.
Hedonic Adjustments Blur Real Price Pain
- Hedonic adjustments make improved products look cheaper in inflation stats, hiding real out-of-pocket costs.
- Mike Moffatt explains that inflation treats a better iPhone as price decline, not acknowledging you bought a superior, not cheaper, device.