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re: Any solutions to macro-economic trends?
Posted on 10/3/23 at 12:05 pm to kingbob
Posted on 10/3/23 at 12:05 pm to kingbob
quote:
This is a really disingenuous argument that I see made frequently
It absolutely is not. Younger people play the keeping up with the Jones’ game more than any has in the past along with their “necessities”.
Meanwhile.. while they scream about how far the dollar takes them now… they clamor for more spending, their own debt forgiveness, and sit idly by as the debt clock races up.
0
Posted on 10/3/23 at 12:05 pm to MAADFACTS
quote:Little empathy from me there. Sorry.
fresh out of college making $30k a year with student loans and a high monthly rent.
In most cases, the loans were/are avoidable, or could have at least been substantially reduced. Meanwhile, "fresh out of college making $30k a year" speaks to how the tuition money was put to work.
Posted on 10/3/23 at 12:21 pm to MAADFACTS
quote:
I think the big things for younger xers and millennials is they went to college and took on debt while the value of their degrees declined,
I don't care. Their parents had a job, and it wasn't to fill Suzy full of sunshine about how she could live in a $500k condo with $100k in student loans with her English Lit degree.
Posted on 10/3/23 at 12:31 pm to LemmyLives
Correct me if I’m wrong, but I seem to recall that LOTS of people in corporate America in the 60’s-80’s were hired fresh out of college with degrees in non-business or STEM subjects. Seems like a lot of English, Philosophy, and History majors used to get great white collar jobs that weren’t in their field, but by the 2010’s, they didn’t anymore. What changed? Why?
Posted on 10/3/23 at 12:35 pm to kingbob
quote:I am guessing you are 36 years old. I started hearing people say that years ago and one of my kids is 36. It's versus
stagnated verses inflation
ETA - I am more of a microeconomics guy. Macro is not my strength, so no help.
This post was edited on 10/3/23 at 12:43 pm
Posted on 10/3/23 at 12:39 pm to kingbob
Corporate HR, and the liberal takeover of Universities in the 60s.
Corporate HR (and FedGov) placed an outsized value on having a 4 year degree, even in circumstances where it wasn't necessary or productive. This helped create a narrative that Johnny wasn't going to amount to anything in life without a 4 year degree. Thankfully, this is starting to shift, at least in tech.
If you got a history degree from U of Illinois in 1955, you could probably read and write pretty well. The focus on social justice/protests in the 60s took a liberal environment and dumped rocket fuel on it.
Corporate HR (and FedGov) placed an outsized value on having a 4 year degree, even in circumstances where it wasn't necessary or productive. This helped create a narrative that Johnny wasn't going to amount to anything in life without a 4 year degree. Thankfully, this is starting to shift, at least in tech.
If you got a history degree from U of Illinois in 1955, you could probably read and write pretty well. The focus on social justice/protests in the 60s took a liberal environment and dumped rocket fuel on it.
Posted on 10/3/23 at 12:44 pm to kingbob
Stop bailing out all the "too big to fail'ers"
Posted on 10/3/23 at 12:46 pm to QboveTopSecret
Posted on 10/3/23 at 12:47 pm to NC_Tigah
quote:
Little empathy from me there. Sorry. In most cases, the loans were/are avoidable, or could have at least been substantially reduced. Meanwhile, "fresh out of college making $30k a year" speaks to how the tuition money was put to work.
I didn’t say you needed to empathize with anyone. I said you need to consider that the depressed housing value from 2010-2014 didn’t do many millennials any good. But yeah, if they had made smarter decisions at 18 or had richer parents they would be fine. Point noted
Posted on 10/3/23 at 12:49 pm to Auburn80
quote:
1. Quit fighting and investing in stupid wars.
2. Reel back the military industrial complex.
3. Focus on wellness more than sick care.
4. Change our perspective on end of life care.
Medicare and Military dominate government spending. You have to reduce those to control costs.
Sunset our social safety net spending.
Posted on 10/3/23 at 12:49 pm to LemmyLives
quote:
I don't care. Their parents had a job, and it wasn't to fill Suzy full of sunshine about how she could live in a $500k condo with $100k in student loans with her English Lit degree.
I don’t think you should have to care. I think you should consider that people are subject to pressures you might not be taking into account
Posted on 10/3/23 at 12:51 pm to kingbob
quote:
What would you do to bring inflation under control
On Monday I'd abolish all welfare and all funding to Ukraine.
Starting on Tuesday I would get really serious about cuts.
Posted on 10/3/23 at 1:21 pm to MAADFACTS
quote:
I said you need to consider that the depressed housing value from 2010-2014 didn’t do many millennials any good.
Didn’t do many millennials any good??
You're kidding???
Homebuyers 10yrs ago have seen real home prices nearly double in the interim.
Posted on 10/3/23 at 1:24 pm to NC_Tigah
quote:
Didn’t do many millennials any good?? You're kidding??? Homebuyers 10yrs ago have seen real home prices nearly double in the interim.
I think MADFACTS is arguing that exceptionally few millennials were in a position to be able to buy a house in 2010-2014, and thus they missed out entirely on that 10 year’s worth of gains. He’s not denying that housing prices went up in that time, just that millennials didn’t have a chance to buy in BEFORE housing prices went up. Instead, they got trapped between rapidly increasing rents and student loans.
This post was edited on 10/3/23 at 1:26 pm
Posted on 10/3/23 at 1:47 pm to kingbob
quote:I didn't pick it up as an isolated millennial argument. But at a >50yr opportunity, about 1/3 of millennials should have been in range then. Regardless, a low rate purchase was still available for 7-10 years afterwards.
I think MADFACTS is arguing that exceptionally few millennials were in a position to be able to buy a house in 2010-2014
Posted on 10/3/23 at 2:27 pm to NC_Tigah
quote:
Didn’t do many millennials any good?? You're kidding??? Homebuyers 10yrs ago have seen real home prices nearly double in the interim.
Yeah, dude. I know. I’m a millennial home owner. What I’m saying is that there are a variety of reasons many millennials couldn’t take advantage of that period, and you said I have no empathy for them. What I’m saying is that it doesn’t matter if you have empathy for them. I’m saying you have to take that into account when asking why millennials complain about the current economy
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