Monetary policy has very little to do with those areas. The only way to measure inflation is to compare like-for-like, which is why measures like the CPI are used to understand the cost of living. The reasons those 3 aspects of the economy may seem inflated are idiosyncratic, with real estate being the only part that is at least moderately affected by monetary policy.

Aside from the fact that monetary policy isn't even decided by some democratic process, it's ridiculous to assume your average baby boomer knows what the hell it even is, especially when the millennial citing it clearly doesn't. That makes blaming them so idiotic.

I know I'm going down the rabbit hole here a little bit, but it just goes to show you how ridiculous people are about assigning blame to entire generations of people.

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Posted by AbuTheMonkey

Chicago, IL

Member since May 2014

8096 posts

Posted on 8/28/15 at 10:19 am to Lou Pai

quote:
Monetary policy has very little to do with those areas. The only way to measure inflation is to compare like-for-like, which is why measures like the CPI are used to understand the cost of living. The reasons those 3 aspects of the economy may seem inflated are idiosyncratic, with real estate being the only part that is at least moderately affected by monetary policy.

Aside from the fact that monetary policy isn't even decided by some democratic process, it's ridiculous to assume your average baby boomer knows what the hell it even is, especially when the millennial citing it clearly doesn't. That makes blaming them so idiotic.

I know I'm going down the rabbit hole here a little bit, but it just goes to show you how ridiculous people are about assigning blame to entire generations of people

You are correct that healthcare really isn't, but I would probably argue education - higher education, at least - is affected by monetary policy as well. Cheap dollars have to flow somewhere, and people still largely see higher education as an investment vehicle.

I think the larger point - that there are huge hidden costs for this generation that didn't exist for prior generations - still stands. I'd agree with you that monetary policy only plays a small part.

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Posted by SlowFlowPro

Simple Solutions to Complex Probs

Member since Jan 2004

432113 posts

Posted on 8/28/15 at 10:50 am to Lou Pai

quote:
Aside from the fact that monetary policy isn't even decided by some democratic process, it's ridiculous to assume your average baby boomer knows what the hell it even is, especially when the millennial citing it clearly doesn't. That makes blaming them so idiotic.

they had control over the country for a few decades and the effects are fricking over the "next generation"

it's not as much blaming the boomers as much as trying to explain to them, in their ignorance, why it's not the same as when they were 25

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