Four_Star

Indeed

It's inflation adjusted wages. As in adjusted for changes in average costs of living. Most people don't spend all their money on TVs. they spend it on food, housing, transportation, clothing and other things that existed in 1973. Furthermore, they adjust the inflation figure to account for changes in the technological utility of things

The peak was in 2008, as was the start of the Global Financial Crisis

Judging by Japan's example, a lot more. Though you never really know. It's like trying to predict just how much snow will cause an avalanche. All you can really do is look at it and say 'that looks dangerous.'