Boomers don’t understand buying power.

[Dog Eater]

Keynes was a literal faggot that popularized the "kick the can down the road" debt theory because cum eaters don't have future generations to consider. He was the perfect tool for the powers that be to keep regular people under their heel.

John Maynard Keynes...SHITDICK

I want to bring him back to life and kill him repeatedly.

 

[BonnieMcFarlaneMe2]

It’s young people bitching that they don’t have the money now and how if they take it out early you pay a penalty and they’re getting lots of views because people actually get their news and information from tik tok. It seems to be a trend of young people posting videos that 401k’s are a SCAM because the future is far away and everybody wants everything now. If your company offers a 401k AND they match a certain percent a year you’re an idiot to not take it.

The company I work for on top of matching 401k also give a yearly holiday gift of 750 bucks to everyone’s 401k that make under a certain amount. I overheard a younger girl (mid 20s) scoff at the company doing that because she said 401ks are a scam without explaining how a 401k is a scam.

It’s my money and I want to waste it now.

 

[Jack_Horner]

Just irritating when they flex their assets as if they achieved them through hard work and that’s why nobody else has the same shit

Do you think we just inherited it or something?

 

[LingerLonger]

Do you think we just inherited it or something?

When you can buy a car for one month's pay or a house for one year's pay at a retail job one or two generations ago. Versus currently where you can be a doctor or lawyer and not even afford an apartment in your own city. It is because the previous generations have raped the economy with inflation and outsourcing.

It's not the fault of the 30 and under workers and students that inflation is doubling the cost of everything every few years yet pay has stagnated.

 

[NoBacon]

Do you think we just inherited it or something?

Bought them at dirt cheap prices and they went up 10-30x in value doing nothing. Cheap education, cheap housing, thriving job uncompetitive job market, super generous pensions and social security compared to what every one else will get.

Boomers don’t work any harder than anybody else, but become middle class because they won the birth date lottery.

It’s that simple.

 

[BakersfieldChimp]

When you can buy a car for one month's pay or a house for one year's pay at a retail job one or two generations ago.

This has never happened.

 

[NoBacon]

This has never happened.

All of the data is easy to find. If someone analyses average house prices/rent/education/medical/basic living expenses compared to average income/pension schemes and buying power, they are simply lying if they don’t conclude young people are being completely fucked to benefit old people who hate them.

It’s just wrong. That’s all there is to say, we can always find “not all x are y” anecdotal stories but the data is clear.

We’ve never had the status quo being 90 year old leaders running everything to benefit 60 year old citizens. The amount of boomers I’ve heard advocating for war with Russia or China safe in the knowledge they’d never be enlisted, it’s super evil shit.

Hey kids, go and die in trench warfare thousands of miles away for a country who hates you and gives you no opportunities.

 

[BakersfieldChimp]

they are simply lying if they don’t conclude young people are being completely fucked to benefit old people who hate them.

No one's arguing that but these examples people use of buying a car with one month salary or a house with one year's just keep getting more ridiculous. Look up data from the 50s. Average cars were months worth of salary (still are today) and houses were like 5 years worth of salary (still are for a lot of people).

 

[NoBacon]

No one's arguing that but these examples people use of buying a car with one month salary or a house with one year's just keep getting more ridiculous. Look up data from the 50s. Average cars were months worth of salary (still are today) and houses were like 5 years worth of salary (still are for a lot of people).

It’s an exaggeration, there’s no doubt about that, but it’s closer to the truth than we care to admit.

My grandparents, the silent generation I think is the name? They operated in the correct method, they viewed housing as housing and something they should all have the chance to buy at a reasonable rate. They didn’t view it as an investment vehicle or rental income streams. They viewed education as an aspirational right for all kids to better themselves, not as bank to print money like colleges do now.

Boomers took the correct approach and turned it on its head to enrich themselves and nobody else. Everyone else needs to pick up the tab.

I don’t really hold bad will against individuals because they didn’t create the system themselves and anyone else born then would have joined in. I can still resent the results of their collective efforts.

 

[IGotATreeOnMyHouse85]

Bought them at dirt cheap prices and they went up 10-30x in value doing nothing. Cheap education, cheap housing, thriving job uncompetitive job market, super generous pensions and social security compared to what every one else will get.

Boomers don’t work any harder than anybody else, but become middle class because they won the birth date lottery.

It’s that simple.

It’s crazy how pensions are now pretty much a thing of the past. I have one from my company but they stopped doing it for any employees hired after 2018. I told my mom recently I had one and she couldn’t believe it since it’s rare.

 

[chocolatehellhole]

 

[Jack_Horner]

Bought them at dirt cheap prices and they went up 10-30x in value doing nothing. Cheap education, cheap housing, thriving job uncompetitive job market, super generous pensions and social security compared to what every one else will get.

Boomers don’t work any harder than anybody else, but become middle class because they won the birth date lottery.

It’s that simple.

All of this is basic math:

1) When interest rates are low, the value of assets goes up

2) When interest rates are high, the value of assets continues to go up but not as fast.

For instance, interest rates rose from 2003 until 2007, and then we got The Great Recession in 2007. What lit the fuse was an increase in interest rates that began in 2003 (see attached.)

This begs the question:

Why were interest rates so low, and for so long?

The answer to that is simple: Boomers were the biggest generation in the history of the US, and they saved a lot.

Your argument is that "Boomers drove up the price of everything." But that was nearly impossible to avoid; if you are aware of how it could be avoided, please let me know.

1) The reason that interest rates were so low for so long was because Boomers were saving like crazy, and there were a lot of Boomers

2) But if Boomers didn't save their money, and spent their paychecks the minute they got the, that would also cause prices to rise. Because their money would be chasing declining assets like cars.

So it's a Catch-22. If Boomers spent their money on cars and diamond hats, the value of cars and diamond hats would go up. But Boomers were savers; they owned homes and Treasury Bonds and stocks.

The average Boomer retired in 2019, and every year, there are more and more Boomers retiring.

That giant sucking sound you hear, that's the sound of Boomers taking money out of the economy. Up until 2019, they were saving; now they are spending. That causes:

1) Interest rates go up, because Boomers are no longer purchasing Treasuries, they're selling them.

2) Home price increases are muted because you don't have Boomers buying McMansions any longer AND interest rates went up

3) Most of the stock market has been flat for a while, because Boomers aren't pouring their money into blue chips. You still see stocks like Nvidia going up, but Boomers don't buy Nvidia, they buy AT&T and Verizon... which are down, because Boomers aren't buying any more stocks

If you want a world where prices are flat or falling and interest rates are permanently elevated, you got it. It's here, and will be here indefinitely, because there isn't another generation that's anywhere as big as Boomers were.

 

[Jack_Horner]

All of the data is easy to find. If someone analyses average house prices/rent/education/medical/basic living expenses compared to average income/pension schemes and buying power, they are simply lying if they don’t conclude young people are being completely fucked to benefit old people who hate them.

It’s just wrong. That’s all there is to say, we can always find “not all x are y” anecdotal stories but the data is clear.

I spent YEARS trying to convince people to take on as much debt as humanly possible. Low interest rates were enabled by the savings of Boomers; rates have tripled in less than two years because the average Boomer retired in 2019, and they're now spending money instead of saving it.

When everyone was buying GME stock, I was trying to convince people to borrow millions at 2.5%