Joking (not joking) aside, I see this mentality with a lot of millennials, and when you think about it it's kind of like a general strike by an entire generation, "we're not gonna work under these conditions". It sucks for generation Y peeps (just before millennials) like me, because I didn't create a lot of the problems that led to the disparity, and I, along with most everybody I knew when I was younger, worked as a teenager and as a young adult and didn't get a college degree. The millennial generation were most all tricked by TPTB into wasting their time in college and dicking off, and now they have no work ethic or sense of responsibility, and you can't really blame them because they were brought up this way. They all got participation trophies and free Internet girlfriends and really didn't have to try hard for anything, and now all of a sudden they can't have anything and so they're saying "fuck it we'll just sit here on our asses", and once again we can't really blame them because they weren't the ones that created the bullshit environment they grew up in. You can't really blame a stupid dog for biting strangers if you don't discipline the dog when it's young.
Also, pertaining the government cheese, as long as there is any available welfare, these kinds of choices are easy to make. If you make somebody choose between working or dying of starvation, what do you think they're gonna do? It's pretty easy to fix these problems, but it takes some pain in the beginning when you peel that Band-Aid off.
I said they went to college and wasted their time and never worked a day in their life and then compared them to stupid dogs. I'm pretty sure that is not the same thing as licking them up the ass LMFAO. I don't have any compassion for the stupid and ignorant. However, you literally cannot blame them for how they were raised, by their stupid parents and by the stupid government that their parents put into power.
I'm not suggesting that anyone should give them a single dime or any compassion (nobody should)... but it is their stupid ancestors' faults for raising them without corporal punishment and ruining the country by not posting attention. Recognizing this is not licking their asses.
Globalism isn’t about bringing the rest if the world to 1st world status.. is about bringing americas down to the rest of the world..
They are deliberately causing food shortages, prove hikers, war, the dumbing Of people, population decrease they various means and much more in order to achieve that
I think this is honestly the most accurate version of the future, barring some kind of drastic change due to AI, war, etc. Your prediction of the feds reaction to this mild-ish stagflation scenario is also corroborated by their actions in the 70s.
One of the reasons my wife and I decided to buy a house again this fall, after we sold our house in late summer, was because I was concerned about how long this process will take. A lot of people are waiting for quick things like "house prices are gonna drop by 30% this year", but the reality is we could see fairly flat markets in a lot of areas for 5 or 10 years, and we just didn't want to be in some kind of bullshit rental for an indeterminate amount of time. Holding onto hundreds of thousands of fiat dollars didn't sound particularly appealing, despite the good feeling of having a huge cushion for a rainy day, because you just never know when the Fed is going to put it or some bullshit rug pull is going to happen (digital Covid, new plandemic, civil war, etc.), and everything is going to be lost, so I'd rather us be in a house that we can say is "ours" than in somebody else's house when SHTF.
Exactly, it was a tough bullet to bite when we decided to buy (knowing that we will take a hit, but the trade-off being that we are not in a rental for perhaps half a decade - at times it feels like a consumer decision, doing something because we want it rather than because it's the financially prudent thing to do, but... literal YOLO comes to mind).
We did spend less than our last house, but because the rates went up, even with the big down payment (most of the prior sale proceeds), our mortgage is actually more per month now. At some point, once we're able to refinance, the payment will be lower than our last house. Until then, I'll feel sick about the situation, especially if prices do tank quickly.
Because I'm paranoid about the financial climate, I'm always more likely to keep more cash, even if we have a loan racking up interest (mortgage / car leases are the only debt). My wife would always pay a little extra on the mortgage, she used to convince me and listen to my rants about how we need to keep cash, and then she finally just started doing it every month. After five years we owed like $30,000 less on our house when we sold it, and we saved a few grand in interest.
The post seems to be predicting a market of higher wages and lower costs for assets. This is good for working savers. My point is that Gen X missed that for most of their careers. They had lower wages and purchased assets at the high. In 20+ years they will sell at the low. Given the choice, I'd rather be young in such an environment. Maybe Boomers will make out the worst, but they purchased stuff really cheap and then went all NIMBI (Generalizations are imperfect and bad).
What generation would you say gets the worst of it? [friendly discussion]
I'd agree with the leveraging. That stuff is dangerous.
Especially the older "Techie-millenial losers" and Techie-GenX that would be loosing both income power and wiht falling assets moving forward.
One counter point would be that if you were making >$250k per year as a "Techie-millenial losers" and lost half of your savings things are looking good compared to your non-techy peers of the same age making <$100k. Even if techies go from $250k to average they will still be better off than their average peers. (it will hurt more because of lost dreams)
Agreed that GenX consistently gets hosed by following the selfish Boomer generation's policies (not talking about individuals).
Ohhh. I think this is where we differ in out words but agree in our thoughts.
"...the more people make, the more debt they have..." This would be what I think of when you earlier said "overlevered". I fully agree with you that anyone making big money but with proportionally large debt payments would be in trouble.
If you make big money with big debts and things get tight, that is bad news.
If you make big money with no debts and things get tight that is good news.
I know tech Millennials that buy Manhattan condos in cash with just their hiring bonus. If the price drops 50% it sucks but is not an issue. Like any group, some are bad with money and some are ok with money.
Sounds good to me?
That's basically what I'm waiting for; housing prices to drop and wages to meet inflation, then I'll go back to work. Otherwise it's not worth it.
https://en.m.wikipedia.org/wiki/Government_cheese
Joking (not joking) aside, I see this mentality with a lot of millennials, and when you think about it it's kind of like a general strike by an entire generation, "we're not gonna work under these conditions". It sucks for generation Y peeps (just before millennials) like me, because I didn't create a lot of the problems that led to the disparity, and I, along with most everybody I knew when I was younger, worked as a teenager and as a young adult and didn't get a college degree. The millennial generation were most all tricked by TPTB into wasting their time in college and dicking off, and now they have no work ethic or sense of responsibility, and you can't really blame them because they were brought up this way. They all got participation trophies and free Internet girlfriends and really didn't have to try hard for anything, and now all of a sudden they can't have anything and so they're saying "fuck it we'll just sit here on our asses", and once again we can't really blame them because they weren't the ones that created the bullshit environment they grew up in. You can't really blame a stupid dog for biting strangers if you don't discipline the dog when it's young.
Also, pertaining the government cheese, as long as there is any available welfare, these kinds of choices are easy to make. If you make somebody choose between working or dying of starvation, what do you think they're gonna do? It's pretty easy to fix these problems, but it takes some pain in the beginning when you peel that Band-Aid off.
FUCK THE FUCKING SHEEP !
And FUCK YOU FOR LICKING THEM UP THE ASS !
I said they went to college and wasted their time and never worked a day in their life and then compared them to stupid dogs. I'm pretty sure that is not the same thing as licking them up the ass LMFAO. I don't have any compassion for the stupid and ignorant. However, you literally cannot blame them for how they were raised, by their stupid parents and by the stupid government that their parents put into power.
THIS IS LICKING THEM UP THE ASS !
I'm not suggesting that anyone should give them a single dime or any compassion (nobody should)... but it is their stupid ancestors' faults for raising them without corporal punishment and ruining the country by not posting attention. Recognizing this is not licking their asses.
No ! Fuck them they are humans and are responsible for their own fucking actions ! FUCK THEM AND FUCK YOU !
Globalism isn’t about bringing the rest if the world to 1st world status.. is about bringing americas down to the rest of the world..
They are deliberately causing food shortages, prove hikers, war, the dumbing Of people, population decrease they various means and much more in order to achieve that
I think this is honestly the most accurate version of the future, barring some kind of drastic change due to AI, war, etc. Your prediction of the feds reaction to this mild-ish stagflation scenario is also corroborated by their actions in the 70s.
One of the reasons my wife and I decided to buy a house again this fall, after we sold our house in late summer, was because I was concerned about how long this process will take. A lot of people are waiting for quick things like "house prices are gonna drop by 30% this year", but the reality is we could see fairly flat markets in a lot of areas for 5 or 10 years, and we just didn't want to be in some kind of bullshit rental for an indeterminate amount of time. Holding onto hundreds of thousands of fiat dollars didn't sound particularly appealing, despite the good feeling of having a huge cushion for a rainy day, because you just never know when the Fed is going to put it or some bullshit rug pull is going to happen (digital Covid, new plandemic, civil war, etc.), and everything is going to be lost, so I'd rather us be in a house that we can say is "ours" than in somebody else's house when SHTF.
Exactly, it was a tough bullet to bite when we decided to buy (knowing that we will take a hit, but the trade-off being that we are not in a rental for perhaps half a decade - at times it feels like a consumer decision, doing something because we want it rather than because it's the financially prudent thing to do, but... literal YOLO comes to mind).
We did spend less than our last house, but because the rates went up, even with the big down payment (most of the prior sale proceeds), our mortgage is actually more per month now. At some point, once we're able to refinance, the payment will be lower than our last house. Until then, I'll feel sick about the situation, especially if prices do tank quickly.
I think you made the right choice. Having a landlord sucks!
Absolutely true.
Because I'm paranoid about the financial climate, I'm always more likely to keep more cash, even if we have a loan racking up interest (mortgage / car leases are the only debt). My wife would always pay a little extra on the mortgage, she used to convince me and listen to my rants about how we need to keep cash, and then she finally just started doing it every month. After five years we owed like $30,000 less on our house when we sold it, and we saved a few grand in interest.
Sounds great for GenZ and horrible for GenX.
The post seems to be predicting a market of higher wages and lower costs for assets. This is good for working savers. My point is that Gen X missed that for most of their careers. They had lower wages and purchased assets at the high. In 20+ years they will sell at the low. Given the choice, I'd rather be young in such an environment. Maybe Boomers will make out the worst, but they purchased stuff really cheap and then went all NIMBI (Generalizations are imperfect and bad).
What generation would you say gets the worst of it? [friendly discussion]
I'd agree with the leveraging. That stuff is dangerous.
Especially the older "Techie-millenial losers" and Techie-GenX that would be loosing both income power and wiht falling assets moving forward.
One counter point would be that if you were making >$250k per year as a "Techie-millenial losers" and lost half of your savings things are looking good compared to your non-techy peers of the same age making <$100k. Even if techies go from $250k to average they will still be better off than their average peers. (it will hurt more because of lost dreams)
Agreed that GenX consistently gets hosed by following the selfish Boomer generation's policies (not talking about individuals).
Ohhh. I think this is where we differ in out words but agree in our thoughts.
"...the more people make, the more debt they have..." This would be what I think of when you earlier said "overlevered". I fully agree with you that anyone making big money but with proportionally large debt payments would be in trouble.
If you make big money with big debts and things get tight, that is bad news.
If you make big money with no debts and things get tight that is good news.
I know tech Millennials that buy Manhattan condos in cash with just their hiring bonus. If the price drops 50% it sucks but is not an issue. Like any group, some are bad with money and some are ok with money.
So far the labor shortage has been a complete lie in my experience. Anyone I've talked to who's actually been applying for jobs has felt the same way
The only jobs or advancements I've been able to get are in construction and tech. What industries do you think are good to be in right now
There is no shortage ! THEY COULD AUTOMATE 70-80% of jobs if they wanted . BUT THE BIG CORPS GET PAYED TO KEEP IMBECILES EMPLOYED and BUSY !
Falling goods prices = GOOD
Rising labor costs = BAD AS SHIT ... since i know most people are dumb pieces of shit !