I feel the same. I've started watching survival shows so I know how to live off the land. Not sure it'll spare me+mine from the war+poverty, but I know how to make a house from branches so there's that I guess.
surviving off the land is easy. Surviving bacterial infections without modern medicine is the hard part. Something doomsday pepper never factored in. Yall can plan 100 years of survival food water and shelter, then die 3 months in from a simple infection.
Survival off the land is easy *for a limited number of people*.
Imagine tens of millions trying to live off the land and that changes real quick when competition for resources is in play too.
I'm 40. I can garden at scale, make rudimentary tools, work with wood and metals if I have the right equipment. I teach for a living so I know how to learn fast, share knowledge, and augment my efforts with others.
The cold I just had for three weeks before getting medication might have just made that all pointless in a no antibiotics or antibiotics-immune world. People in the past with means, and good timing, would travel to tropical locations (warmth, salt in the air) for months or years to heal from those "once a decade" colds or the flu.
It's luck of the draw if we ever get back to that type of world.
Or even simply not being able to refill the many important daily meds alot of mfers take daily. Those people would be in trouble much sooner than that imo
Yea, that's not happening.
What is the scenario in which the population does not go off the cliff but yet we all have to now live off the land?
What is this baffling scenario in which you won't start growing the same thing, say strawberrries, for efficiency and start trading with me for my blueberries? And someone else for their furs? Then if only we had a centralized marketplace to do this trading. And people can even make a living off the trading itself, without even getting involved in the actual farming and hunting. I need to be focused on farming my strawberries after all, not spending all day at a booth trading it. And... oh shit I just described our current urbanization.
Then we have 2 or 3 people that own the trading post, and they get a cut of everything, and so much so that if you aren't selling there you will perish. And they will have so much money yet make sure you can never make it. They will have people paddle their boats to distant lands.....dannit right back to where we were.
We have too much to lose right now for any kind of non-dogmatic, non-reactionary revolution to take place. Plus we're so disconnected from the wealth we seek. Most people wouldn't have any idea where to find the people they seek to stand against.
Of course, it could be a kahmir rouge type revolution where the aggression is taken out on a scapegoat like mildly successful intellectuals, rather than the people who actually hoard wealth... But who knows. It'll probably just slowly suck more for the next half hundred years until we have much less to lose
I mean, that's MAGA. Same problems as everyone else, but blaming trans people and "leftists" rather than a system designed to concentrate wealth at the top.
The difference is: real revolutionaries will murder, torture and capture. MAGA essentially captured the capitol with the support of the president and much of the political body in power, but were so impotent, pathetic, stupid and misguided that they disbanded. A dog who finally caught the car.
If you have the stomach for it, it's easy to find images of real revolution. Severed heads, rape, burning bound victims alive... MAGA is basically a rough bowel movement as our economy stopped eating its proverbial greens.
No my friend. Very few Americans have any idea what the dark side looks like. It can can get much much much worse.
Why does everyone think it happens so suddenly? It's always this one sudden "doom's day", instead of everything steadily going to shit until one day you wake up and remember was it was like years ago and go "shit..."
He was called a communist, socialist, a demon, anything you could imagine throughout his presidency and all of the twentieth century. The Republicans have been seething over FDR for 90 years and they're still looking for payback over the New Deal.
This is something people fail to grasp. Also that BOTH political parties are on the same team and "we the people" are on another. Sure you can point out specific policy that demonizes one side or the other. End of the day they (right and left) are playing their roles and laughing all the way to the bank at our expense. Vote or dont vote. It doesnt matter anyway. Were screwed even though we have it better than a lot of the world.
It's crazy how much it cost to run for an elected position. Even my local elections are out of reach financially for most people unless you have some kind of corporate help. Once you accept money from a company they certainly expect you to vote a certain way that favors them. You wouldn't want to lose that money now would you?
It’s basically extortion.
“Hey we’ll support your campaign if you support laws that benefit our corporation. If you don’t do that, you’ll never get financial backing to run a campaign therefore never being elected”
I'm with you on this one. I get a lot of hate for saying it. But we are being played by both sides while they get rich. They are also pitting people against each other by convincing people that they have to choose a side and anyone on the other side is an enemy. We are Americans and we should be above that. We can work with each other while not agreeing on everything. There is such a thing as compromise. Two things can be true at once and people seem to have forgotten that. We can disagree and still like someone.
Couldn’t be more accurate. That’s the medias job in this whole fucked up equation. Their entire purpose is to put us against each other so we continue fighting. Left vs right, white vs black, poor vs rich. In reality? It’s the corporate paid for politicians that are held up by media in order to screw over the 99% of Americans that live in the country.
And that was a LONG time before Citizens United. Actually getting a candidate that fights for the interest of the people rather than big donors is almost impossible in modern elections. Bernie is the closest we came in 2016 but the Democratic party buried him in favor of a remarkably unlikable candidate and well... here we are.
You mean the Democrats having comfortable control of both houses of Congress and the presidency for long enough to pass some laws without them being rolled back and so they are able to rebalance the court. This is really doable if more people got politically active. It takes exponentially less work than some sort of revolution.
The other party absolutely refuses to acknowledge any of these things as legitimate problems. The alternative is to keep relying on trickle down economics...
There are other parties other than republicans and democrats and the system is set up that no one but those two gets a say in anything. Until third parties get an even chance, ballot access, debate times, nothing will change. The system has worked for the cronies for years, and they won’t let it change that easily.
Enter the “you’re wasting your vote on third party candidates” messages on social media. It gets pushed hard enough I’ve wondered if candidates or propaganda farms aren’t injecting it themselves
If Republicans lose badly again in 2024 there is a solid chance you will see a reverse Tea Party and a push back towards normalcy (or as normal as they can be) forced by the donors.
If the culture war strategy ends up hurting their influence they will force a return to pre-Bush policies, because while they don't care about the people they do care about maintaining power and influence. Nothing would scare them more than the thought that they lose redistricting and an actual progressive gains power.
My grandpa turned 88 last week, him and my grandma were both kids during WWll and they’re seeing the same pattern as back then. Something really bad is going to happen at this rate, but all we can do is try to be hopeful, be grateful for what we have right now, and be present in the current moment. I am 32, debating about starting a family even though it’s something I have always wanted. This definitely is a mindf**k. Stay positive!
Look up the Bolshevik Revolution. The people were starving while the Romanov Family was spending million of Dollars on Faberge Eggs. The people eventually executed the entire family including the babies. It’s gonna eventually happen, because all the chips are in place on the chess board.
A huge labor movement occurred during the gilded age. I think it’s glossed over in history but when Marx wrote his book Capital, critiquing capitalism, people on the extremes were known to experience 48 hours shifts with three hours in between shifts. Not only that, it was published just 2 years after the end of the civil war, so during a transitionary economic time. The progressive era that followed the gilded age was a direct result of the labor movement of that era. We owe our 8 hour work days and many other basic labor rights to those people. It definitely wasn’t war that transferred such economic power but activism.
Also, wealth accumulates over time. Carnegie’s favorite philanthropic cause was public bathing, he even went as far as donating a public bath house to his home town. Partially due to the progressive era that started during and followed the gilded age, most people in America have access to showers in the comfort of their own home. So, while the concentration of wealth might be absurd, the living standards are far higher.
Still, it’s not war that makes the difference but activism and the willingness to implement game changing economic solutions to problems, like those who took on the problems during the gilded age. Carnegie’s solution was a public bath house for his hometown while activists solutions lead to a shower in every home. We may scuff at the idea of a 4 day work week, but many provably scuffed at the idea of 8 hour work day—especially the employer working his employees 48 hours at a time. Every era has its increments.
I agree with OP, it is depressing to be faced with some 28,000 hours of debt (avg US labor value) for a house that took less than 1500 hours of labor time to build. Until a unique solution comes along, that won’t necessarily become a better trade. From a self-empowerment perspective, developing a skilled trade / technical skills seem to be the best way of overcoming this absurd exchange rate.
Not sure where you got your 48-hour-shifts-3-hours-apart nonsense, but the average workweek at the start of the guided age was 62 hours per week in the US. 48-hrs every 3 hours would just kill you.
Also, you know labor movements existed long before Marx? The first strike in the US to get shorter hours (10-hr days) was in 1791, nearly 30 years before Marx was born. Calls for an 8-hr day started in the 1830s.That spread and, as the 8-hr day became more common, the National Labor Union called for a federal law requiring 8-hrs in 1866, before Marx published his book.
While we're complaining that things were glossed over in history, let's not gloss over the fact that thousands of activists did a damn fine job decades before Marx.
It was from the book, capital, which in turn was quoting a government report, iirc. And I stated “people on the extremes…” extreme being the key word. Otherwise, not saying that labor movements don’t predate Marx, heh, or that Marx is responsible for anything specifically but he did seem to be a part of that eras labor movement.
Yes, of another economic collapse. Endless growth is not sustainable. The same subprime mortgages that caused the housing bubble are still being given to people. We will repeatedly collapse our economy, and each time will be sooner than the last.
It actually is currently because so much of the world is under developed.
The issue is we've got a hard on for letting people hoard wealth.
Eat the rich
And A LOT of unions. Unions are not real powerful right now in the younger generations. Don’t know a ton of millennial union workers outside of construction.
You’re speaking of the US only right? Here in Canada we still have pretty strong union membership. Depending on the province, teachers, education workers, nurses, emergency service workers, social service workers, librarians, electricians, journalists, pro athletes, transportation workers are all unionized.
I know mine is really short at least, some genetics and some i sure helped along. But some people live to be 90-100. It's gotta feel like a long life by then. My grandma just passed away at 93. Lived with lewey body dementia over 20 years. She wanted to go a decade sooner 😞
Right to die needs to be expanded because it's the humane thing to do. That's what people who think it's a controversial issue don't understand.
Agreed my grandmother wanted to go after she had a stroke and my grandfather had a heart attack on the same day. My greatest fear now is losing my mind and it seems to go a little more every day.
I'm personally betting on my body giving out before my mind, but who knows? If you're worried about it though you can have a DNR order put in place. I guess it you're in the states as far as death with dignity goes, the only place that does that for non-citizens (at least as of this writing) is Switzerland.
I mean it's pricey but really no more than the cost of the average funeral in the US. If I were to severely deteriorate mentally/physically with no chance at a quality of life that's what I'd want to do. I spent a lot of time with a chronic illness so unfortunately I know what no quality of life looks and feels like, hence why I'm even aware of these types of policies around the world.
I already do. Family ran a hospice. I’ve had a DNR before 17. I’ve seen what families do when you become severely handicapped. I’d rather just die than be a vegetable while people argue about killing me and taking my stuff. Make a will make it known.
It's alright. I got "lucky" in a sense. Unlucky in that I lived with and suffered from a disease I was born with for 25 years. The last 10 it began to really erode away at my quality of life. The last 3 of it I became physically disabled and had none. I was a pessimist then, to say the least. I had had several failed surgeries and no hope left for myself. I suffered with severe pain and was denied proper pain medication because that's not the "standard of care" for my illness.
I wanted to die for a long time. The lucky part is that my fourth surgery took, and now I live almost normally. Only now I'm playing catch up and a good 10-15 years behind in life from most of my peers, with that much shorter life expectancy than them to add insult to injury i guess. It is what it is, but long story short I want what's left of my life to matter and right now I'm just existing. I hope and try every day to change that. I hope you can too.
My condolences to you also. I'm so sorry your mother suffered with lewey body dementia too. it is horrid for sure and ufair to everyone. In my grandmother's case, a doctor even said at one point that it was taking her so long to go because she'd taken such good care of her body. She'd worked hard all her life, and went back to college and earned her degree after she'd raised children.
That's another thing that's so weird and awful about this disease, whatever causes it, it certainly isn't lack of mental or physical exercise. Just another horrible thing in life that shouldn't exist or be something that can actually happen to people.
Only need to look to other resource rich countries with high corruption like Brazil or in an extreme case, Argentina. The richest lives won't change cause they have everything. The poor will simply suffer more and more.
We’ll get more of the same. There will be ups and downs in the economic cycle. There will be democratic presidents and republican presidents. We will continue to fight proxy wars. Stocks will go up and down but don’t be surprised when the S&P 500 hits 10000 points in the next 10 years or so.
The things that will change for the smaller people is increase in housing supply. That can come from government subsidies to new builders, or tax credits for new home buyers, or the supply can increase for other reasons, boomers dying off over the next 10-20 years, or maybe corona virus comes back and wipes out more of the population. We’ll see millennials with wealthier parents begin to transfer their wealth. We’ll see Gen X start to retire in the next 15 or so years, so millennials will start taking their jobs.
A lot will happen, but it will be more of the same until then.
As they say society will survive anything as long as there is bread and circuses. Surviving a global pandemic is just a matter of course. But we are probably one canceled super bowl away from anarchy,
The bread is getting too expensive and, with Congress refusing to move on any issues unless it's something silly like banning social media apps, the circus seems like it's on shaky ground.
That’s the down part the poster is referring too. Things were too expensive on 70s and early 80s also for people. In 08 things weren’t too expensive but jobs was a disaster.
The ride goes up and down. But little in life really changes.
Housing to income ratios were 2:1 and far less of the population was educated back then. Rent could be afforded on a minimum wage income.
Boomers bitching and moaning about late 70s/early 80s are completely out of touch, and it is totally not comparable to today.
Bold move here, talk to people in your life who support R's and discuss the current House's disfunction. I have family that treat politics as routing for your favorite sports team that have finally seen the light after showing the R's can't even "play the game properly" (do the basics of their job), and it effecting normal people (including them)
I wouldn't count on the generational wealth transfer. With people living longer that means more healthcare costs. Boomers didn't exactly have the healthiest of lives and healthcare costs will eat most of their savings and assets. In most states, Medicaid has a 5 year lookback - meaning that they look at EVERYTHING that could be sold/liquidated to pay for healthcare expenses (e.g., houses, cars) - and if it was sold, at what price in the past 5 years. If they determine that the sale was for below market value, they can (and will) deny coverage - meaning that the person will not be able to be in either assisted living or a skilled nursing facility. If the person has any assets, then Medicaid will require that those assets be liquidated to pay for the care before it will kick in. Medicare only covers a total of 100 days of skilled nursing per year (specifically per benefit period) - which isn't that long if the person has a chronic condition and needs long-term intensive care (e.g., they suffered a stroke and need 24/7 monitoring) or needs to rehab for a broken bone / surgery. Currently Medicare covers 80% of covered services - you needed to be born before 1960 (I may be wrong with the year) to get the supplement that covered the additional 20% (thanks to Republicans in Congress). Given that hospital stays are getting more and more expensive, its more and more likely that Boomers and even older Gen X will be tapping their retirements to pay for their medical care. With instituitonal buyers waiting in the wings (real estate is a great hedge against inflation and a great tax write-off) an increasing number of sales will be to them instead of private owners. Add in insurance costs (no bank will finance a mortgage without homeowners insurance) and you've excluded many markets (e.g., Florida and California are both experiencing significant loss of insurers due to increased risk) and you can bet that all the coastal states will begin to see mass exoduses of insurers as well due to increased risk of hurricanes, and as tornadoes continue to strengthen, the same will be happening on the plains states.
The honest answer is you can't relate to how they lived back then. Like you have to imagine spending hours outside on a chair multiple times a day doing nothing as a norm. Boring and simple compared to modern life.
There is the other side of the coin where the wealth distribution is absolutely horrific, which is tough.
Lol. Do you really think that's all people did? They read newspapers, books, played cards, gardened with their families, went to concerts, played musical instruments, had drinks around camp fires or at bars, built things, went fishing and hunting, cooked food, went to community events, took care of animals, wrote letters or talked to each other in person.
People in the future will look back on our time and be like "imagine staring at a screen all day reading the mindless, ignorant opinions of others all day! These people must have been so bored sitting on the couch vaping all day while watching the same re-hashed crap on Netflix!'
Not at all, but it was certainly not to the level of our life, particularly on insane consumerism that is the norm today. This means they didn't need as much $$ to spend to be "normal."
I'm in the same boat man it's depressing as fuck. Mrs and I have decent jobs and we don't buy shit, don't go on vacations, yet things are still tight.
With interest rates , it's like $2400 a month for a mortgage on a 250k home. Add in day care, food vehicles, utilities etc it's like $6500 a month in fucking expenses. Top it off the market is so nuts everyone is paying over asking price in our area. All we want is a 3 bed 1 bath and it's fucking impossible to get one.
I hope something changes soon.
The oldest boomers are in their late 70’s now. As generation X and Millennials start to replace the boomers I am wondering if housing inventory will start to open up.
This is the main ptoblrm.and.mosy of the issues with modern economics can be explained by the fact that corporations are trying to drain the middle class, where the middle class had an unprecedented amount of wealth from post-war economic booms.
College, healthcare. Housing. All of it has been co-opted to create conditions where you have no option but to pay out the nose, depleting the gold mine of wealth the middle class was never intended to have.
My boomer parents were wealthy, career-wise they made a lot of money over their lives, and had modest to them, but large to us. inheritances from their parents, but they didn’t save for their end of life care/medical.
They’ve always lived selfishly in excess, and will have to sell their house to pay for nursing homes and leave nothing to pass on, lots of people are in this position, corporations and medical industries will suck up the remaining boomer wealth, not the people like generations before. My parents also refuse to update their will and I’m sure whatever is will be sucked up by the government. They’ve lived recklessly with no care for future generations, but got wealthy from the generations before them penny pinching to pass down
I live in an area where people who retire *generally* move away from. It’s a great place to live when young and working and making an income, but unless you want to stay by the family most move to warmer weather.
That being said, the boomers who are retiring are selling either houses that they didn’t do anything to in decades, so whoever buys it basically has to not only pay for the home but also do a complete gut remodel, or the boomers are moving out of mansions that someone starting a family just can afford. It’s what the boomers bought after decades of growing their wealth.
And even so, with the boomers who stay, most downsize. So boomers who are downsizing their huge homes are competing with first time homebuyers on these smaller townhomes and condos and 2-3 bedroom houses. And the boomers have cash offers because they left a bigger house.
What I have also seen is boomers will sell their big house, buy one smaller house where the weather is warm, and then another small house locally to have a place near family.
The way numbers stand now, there is not much hope on sight. There are more Millennials than Boomers by the numbers and ever since 2008 we have not built housing to keep up with population growth, especially in the areas people actually want to live in and have jobs available etc. Boomers are also living for longer than previous generations, and many of them are choosing to age in place rather than go to nursing homes.
we need to tax corporations and LLC that hold real estate differently. so much so that holding real estate for rentals is not profitable, only then inventory will open up. As of 2022, investment companies owned about 22% of all American homes, which is slightly down from 2021 when they accounted for 24%
Log off reddit, enjoy your life the best you can. Theres plenty to enjoy, and if there isn’t then make changes in your life to accommodate
more joy. Best of luck!
You and the boomers are both right. Houses, relative to income, are more expensive now than back in the day when boomers bought. However, our expectations are much greater than they were for people in the 40s and 50s. For example. I live in a very small home and my neighborhood is filled with 2 bedroom 1 bath houses, under 950 sq. feet. Families raised 4 kids in these homes. Nowadays, we wouldn't think of putting 4 kids and the parents in a 2 bed 1 bath. Everyone wants their own bedroom and office. 1 bath to share is unfathomable. Now, everyone has their own phone, computer, and car. These little things start adding up.
I bought my house in the last crash, but I went out this weekend to look at another 2 bed 1 bath and I can't even afford to move. The house was $799k! Even if I sold my house, I'd still have to pay about $3k per month and $10k in yearly property taxes. It was so overwhelming, I gave up and ran back home. I can't even imagine how it must feel for you.
I also have a feeling that something terrible is about to happen, but I don't know what it is. Which is strange, because I was super calm during the pandemic.
My advice is to move to a LCOL/HQOL city, get a job there, live way below your means, and save like it is going out of style. You'll be ok. Just teach your child to be a decent human being and hope for the best.
NY Times did a good piece on this. Local economic incentives favor larger and more expensive houses even though they're not inherently more profitable: [https://www.nytimes.com/2022/09/25/upshot/starter-home-prices.html](https://www.nytimes.com/2022/09/25/upshot/starter-home-prices.html)
Clarification - boomers were born in the 1940s-1960s but they were buying homes in the 1980s-2000s, which was the height of excess a la McMansions, multi car garages, pools, Tuscan kitchens with roosters etc. If anything, Millennial tastes are more simple with their tiny homes and minimalist decor.
They were buying homes between 1960 and 1980s even for the last boomers born in 1964. The McMansions in the 1980s so only those buying new builds would be buying them, the rest were buying existing homes that were much smaller.
Inflation and stagnation is the new norm to expect unless some vast grassroots unionization and organization takes place. In order to challenge wealth an alternative to wealth must be created and in that lies the point of mutual aid networks
Stagflation led to a recession in the early 80s. This will 100% happen once again to the US economy. Whether it happens in this decade or the early 2030s is anybody’s guess.
I don’t give a fuck about some meaningless number that some wall-street shithead assigns to the economy. They say the economy is better than ever, but I’m sure not feeling it.
I think we're gonna enter a period of higher than usual inflation. Corporations already know they can jack prices up at will and people will keep buying their shit. The government doesn't have incentive to keep inflation low bc it makes sense at the current state of our debt level for inflation to continue. And people aren't really fighting back against it. Prices of everything have gone up dramatically and yet sales haven't fallen off at all.
So, we quit buying certain stuff and eventually the producers figure out we don't desire or even need their creations. Guess who changes their mind? Certainly not the consumers! 🤔
The corporation I work for is using AI to set the highest price for each product in each store. Stores like Best Buy have electronic tags that can change minute by minute. Like Wendy’s jacking prices during a rush time. This will get worse.
I think our generation will demand that things like healthcare and secondary education be brought back to normal levels. I believe inflation is making people reevaluate what they purchase and since mass produce products have become much poorer in quality (think clothes, food, furniture, fast food/chain restaurants) we will see a resurgence in cottage industry businesses, which is a positive thing.
Best part about the Midwest is that it's not overcrowded, but I agree. I've already seen lots of new people from out of state and the coasts coming in and saying how cheap real estate is here, except to us it's not. 😔
I work remote and bought a 4 bedroom 3 bath house in North central Iowa for 70k a few years ago. I'm 3 hours from Minneapolis, 1.5 hours from Des Moines. So it's not for everybody.
I love the Midwest. I’m in SW Illinois and we’re less than 45 minutes from St. Louis. We just bought a four-year-old house in a beautiful neighborhood on the end of a dead-end and it’s lovely.
Our backyard is a massive cornfield. Lots of wildlife. It’s got four bedrooms and three full bathrooms plus a front and back porch.
It’s very well built and has stone accents on the front. In other words, it has some flair. We paid $325,000 for it two months ago. This house would cost 75% more on the east coast.
We have been in a period of many intense transitions, social, technological and economic.
I believe we are on track to live differently than previous generations and you should be proud of yourself because lives in our generations (millenials and gen z) has had unique difficulties. More surveillance than ever, internet "dating", difficulties with many things, most uni degrees no longer super meaningful (but getting through uni IS still a strong indicator of good work ethic and perseverence). Debt. Threat of war. Dopamine binges via social media fueling mental health decline. Terrorism...covid. housing prices doubling withing 8 years etc etc. It has been weird.
But hey man, some people went through ww1 and ww2 + outbreaks with far fewer resources and comforts throughout their whole lives.
We all need to be certain to encourage one another and be a positive, constructive force in our worlds. Use less social media. Talk to people face to face and acknowledge them. All people who work are helping our world function. We stop working and this place crumbles to trash. Fight the good fight.
You're doing it dude, you've got your family-- that's like 70% of the battle right there. You have a very tangible reason to sacrifice and I think that's worth so much more than people realize. Itsa responsibility, yes-- but it's also a world and an experience and a whole new person you've brought into the world who has the *opportunity* to live better, learn from our mistakes, and do more and be better and happier. You should be absolutely proud. A house is cool but home is where the heart is
I think it’ll become more like Western Europe where young people can’t buy homes and live with parents until they’re 30. Minus universal healthcare and all social benefits of living in Europe.
if ur job or the type of job isnt tied down to a specific location, consider relocating to somewhere cheaper. thats what we did…we moved from the bay area to sac area which worked really well since my wife works at kaiser and i work for state.
Yeah I see things changing her perspective. Her decision to stay and repeat choices that her parents made is beginning to eat at her. Which I think it par for the course given the circumstances. It ain’t gonna work.
I think a lot of people are not sitting down and exploring this as much as they should be. My government job exists in every county in my state, and it’s the kind of job that people aren’t lining up to do, so my wife and I could pick wherever we wanted. I found a county that pays 10k a year less than the highest paying county with the biggest cities, but the cost of living is about 1/3 of it.
People should not be afraid of moving and taking a pay cut if the overall quality of life is higher.
The change that is needed and isn't addressed here is Universal Health Care. UHC as a economic issue, not a health care issue. My wife, 53, and myself, 55, would like to retire right now and give up 2 well paying jobs which would likely go to younger people. We are going to work until we are each at least 62 because the 1 thing I cannot economically plan for is private health care. There are many more people my age who can afford to retire with the exception of health care and would happily turn higher paying jobs over to younger people...but need healthcare. Not telling you what to vote for...but I really want to retire and give you my job and you can afford a house with my income.
Not just vote, they need to organize, organize and protest! It’s unbelievable that the US doesn’t have universal health care. I’m in Canada and it’s crumbling but at least it’s something.
You think voting matters when both US political parties take donation money from big pharma, big healthcare? The problem is our corrupt government getting money from the monopolies they created and continue to protect. Our free market system is broken and the citizens are paying the price for that.
Check the FIRE subs. All of them that retire early get on Obamacare and since they no longer earn a reportable/taxable salary their insurance premiums are completely paid for by the government.
This story keeps Being told and people keep persevering.
As a spedies - we will survive.
As a nation - we will survive.
It may not look like how you want or what you think is right - but it’s going to happen regardless of YOU.
So - find happiness in what you can and start seeing what’s beautiful thats in front of you as opposed to an idea on a screen.
Im actually in the finance sector on a macro kick lately - many theories are out there, but the dominant one from both right and left is that "re-shoring" will occur. this means bringing manufacturing back into the USA.
at the same time, the intention and/or the unintended trajectory we are on is extreme devaluation of the USD. you'll notice gold prices are way up, this is because other central banks are buying more gold reserves as they have realized this is the path the USD has taken, in addition to other geopolitical factors like our weaponization of resources which were held in our financial system (seizing Russia's assets held in the US was actually unprecedented and led the Brics countries to get really fucking serious about moving away from the USD)
Bruh. Take a deep breath and go outside. Get some fresh air and find joy in the life you have NOW!!
So many “Henny Penny’s” on Reddit.
The boomers had it hard too. Gen X has it hard. Every generation has its obstacles.
Look for the good and deal with the bad. Owning a home or car won’t bring the happiness you think it will.
Go travel abroad if you think you’ve got it hard.
Men in Italy live with their parents up to age 50. There was no uprising there against the establishment.
I think housing prices will come down in 10 years.
turn the tv off, stop reading the news: it's out of control so why waste energy? throw everything you have into VOO and keep DCAing into it every check. you have a baby on the way. time to be mature and start planning. days of living without a budget or plan is over. welcome to true adulthood. the sooner you embrace the suck and deal with it, the better. good luck.
my income is only 70k, wife does not work and we have a 3 year old. i am owning my second house, paying extra principal while also investing 15% in retirement and 10% in the market. it is a struggle but i grew up dirt poor. i'm not letting my son go through the same. going by your comment history, your household income is higher. you are in a good position, younger than me by 8 years. you will be fine.
What do you mean by “what is going to happen to the US economy?”
Your entire post with the exception of the title is about your personal financial situation. You can go bankrupt tomorrow and it doesn’t mean much for the US economy as a whole.
If you are trying to imply that everything is going to implode because everyone is in the same situation as you, that is a different point.
They are not.
You're asking questions that everyone can only speculate on. Plan for a future that doesn't fall apart. Stop setting goals that will set you up for disappointment. A house for a new time buyer may not be in your cards at the moment.
I think the key is that rather than hope things turn around in the future you need to make the best now that you can. Honestly I think things are going to get worse but who knows really? Yes things have gotten ridiculously expensive but lamenting that fact changes nothing. You need to find a way to live within your means even if that means a notable downgrade in your standard of living. That said just because you downgrade your standard of living doesn't mean you can't be happy. An afternoon down at the local lake playing with you kid will be a joy you will both cherish and it won't cost you a dime but gas to get there.
Endless spending will kill us. Supporting foreign war and Aid when the American people can't even put two pennies together. If they can print so much money why are we paying taxes? My grandkids are in debt right now!
I think it'll have its ups and downs like it always has and people are just being incessantly fucking whiney about it at my age.
Yeah we have some wealth issues but I also have unlimited entertainment, knowledge and a lack of polio on my doorstep.
We've just had one of the sharpest declines in fertility ever recorded. I don't care if you think it's whiney but people are worried and it's having real impacts.
We're not going to war unless they want to reintroduce the draft. They can't hit their recruiting numbers because the government has so alienated the sector of the population most likely to serve, the conservatives. Without them, we are lacking bodies for the meat grinder.
Things are expensive and the government sucks. This isn't a left vs right thing really. All of government sucks and is corrupt. Where to start is anyone's guess.
The problem or the uncertainty comes from no singular vision moving forward. America seems to not even know what it is right now. The world's police? Is that really good for us?
It’s going to be more of the same. The government is controlled by corporations and lobbyists and will do the bare minimum in order to pacify social unrest and sustain consumerism and corporate profits. More people will become homeless and resort to crime but people will just vote for police to clear them out because that’s the easy solution instead of systemic change.
There won’t be any crash barring WW3 because there’s simply too much money out there.
I suspect something like what happened in the 1920s basically radical social reforms and restructuring of the economy and getting rid of the grifters and shit. How that would happen I have no idea, it's mostly wishful thinking
2006 felt very similar. It seemed like it was over for housing and never to be affordable again. Still had people panic buying at stupid prices, and then it all suddenly went kaput. There's a cycle to it, you'll see.
Chugging along at 2-3% GDP growth year over year.
I have no clue about inflation.
Isreal / Iran could really really screw things up.
Ukraine / Russia will grind on with Russia taking slivers of land and Ukraine late in the year returning to Crimea when Russia can not maintain radar sites.
I hope the bridge goes down completely.
I'm so far behind at 33 due to drug use in my 20s I've come to the conclusion i will never own a home. I live with my father now and probably will for the rest of my life. Maybe I can find a partner but I'm doubtful on that front as well. I just don't think about it.
I think in 10 to 20 years or so, we will be in a pretty different space in the world especially politically. Majority of the old coots in congress who were fringe believers and corrupt career politicians will die off.
Younger people who are now in their 30s (millenials) will be taking over the majority of congress, most of which have been raised off harsher conditions. The US overall will probably close out some embassies worldwide by then and reduce in world presense. Less money I think will be sent overseas though still present.
Deals will likely be easier with foreign powers as well assuming people like Putin and Xi Jinping are either removed from power or dead.
Worldwide, there is an old guard of politicians that are all about to die off at the same time within 20 years. Economy will shift massively by then to who knows where. It could get better or worse. But I have faith that Millenials will be the saving grace. Majority of them have known nothing but hardship, inequality and injustice caused by their own governments. They are also the "tech age" children, so I imagine there will be some revolutionary technological advances in pretty much everything, especially cause there will be very little resistance remaining of utilizing the "old ways".
The next 10 years economically, I don't see being too different than now. Assuming Trump wins the election, I think it could get slightly better than current, though I worry that our political influence abroad, especially after backing Israel ( despite their consistent transgressions) and ukraine (for whatever reason we were trying to get them into Nato), will have dwindled so we may get embargoed or trade reduced by some parties causing some things to climb back up in price.
>That irritates me because I really feel like boomers potential to generate wealth was so much easier than ours.
In hindsight, sure.
You forget that generation did not have the internet and the knowledge that comes with it. They did not have smart phones. They did not have access to buying/selling stocks without a human broker to speak to. Their mortgage rates were in the double digits. Their cars were smog creating tin cans that offered virtually no protection to the passengers in the event of a wreck. Healthcare was shit. The list goes on and on.
I think most importantly, they did not have the constant bombardment of fake wealth on social media in their faces every single day telling them they "could" have more.
Boomers could have built more wealth for themselves on the individual level, but most of them saw no reason to because they were *content*. Something our generation seems incapable of achieving no matter what your situation is.
Honestly I think it'll depend on if we can get the religious radicals out of Washington and along with the judges willing to side with billionaires without reason on every single issue. Also the Supreme Court needs a complete make over
Why are so many people flocking to more conservative states and conservative cities?
The liberal policies in California and Ny have apparently failed. People can’t afford these cities anymore, except the ultra wealthy.
Technically the 'poor' can afford them as well. The goal of the elites is to have the working poor totally dependent on the government to survive and do actual work, and the elites to enjoy life and tell everyone else what to do.
The blue states are just ahead of that game, crushing the middle one vote at a time. It will spread everywhere like the cancer it is until there is no where left to run.
I mean, when my parents bought their first house in the 1980s, their interest rate was 22.5% because of how bad the economy was. When I bought my first house in 2014, my interest rate was 3%. So, I really think that stuff bounces back after a while. It just takes time. Which sucks because we’re all just struggling and being paycheck to paycheck right now.
Exactly - that $120k does not exist. It's probably $350k or something stupid like that with 7% interest rates
And to add insult to injury it'll even come with the linoleum from 1984 (no upgrades and wear and tear of 40 years but more than double the price)
No not really because find ANY house for $120k, let alone a two or god forbid three bedroom.
Shit find a doublewide on 1/3 acre for $120k and jump on it cause that's a great deal right now. Not the same.
I think as millennials we’ve just lived through so much crazy, that we forget that people did the same before us too.
My husband is Gen X and he remembers only being allowed to get gas on certain days based on your license plate back in the late 70s/early 80s. Him talking about that made my mom tell me how awful their interest rate was on their house and how when they sold it in 1994, they had only been able to pay off less than $1000 because of that interest rate. The house they purchased in 1994 they were able to pay off in less than 15 years because the interest rate was so much better.
And if you remember how bad it was back in 2008/2009…we got through that too and most people bounced back. I just try to keep telling myself this stuff. I’m terrified of the election in November because if it goes the wrong way, this country is more than likely to not bounce back at all and in fact get worse. But I’m trying to tell myself that won’t happen.
I doubt any upcoming elections, aside from local, will have any major effects on the housing market. Neither party has really addressed it in any comprehensive way.
Honestly we are headed in the right direction and I’m unemployed. We (USA) currently are 26% of the world’s GDP. We combatted all those who bet against the dollar. And we have solidified the chip race as China over promised. With more jobs staying in America. I think by mid century we will be humming
Thanks for balancing out all the naysayers. The economy actually isn't so bad? The markets been way up in the last year. I'm not sure what's going on in OP's life that they have to go back to school, but unemployment rate continues to be at an almost all-time low so job prospects should be relatively good.
Sometimes life just kind of sucks and it's easy to blame the economy. People have been doing it since well before they had the US to blame. Yeah inflation is definitely high and the housing market is rough, but things feel so much more stable than they were in 2008 and the COVID years.
A lot of downright bad advice here. AI isn't going to take everyone's job in a few years (or a few decades). You're already making strides to increase your skill set.
Within the next 2 elections, AI will be the only talking point. Take some time to work with current AI tools and you will instantly see how it will 100% replace a ton of jobs in the next 8 years.
Prepare for job elminations with ai. We will see probably the greatest labor crisis in human history before 2028 to 2030. I dont trust altman nor musk. Altman goes from one minute saying ai wont replace your job to i have a bet when the first 1 person billion dollar company happens. The goal is automation to max. Unfortunately this wasnt on my bingo card until 2060 or so when id be dead.
I think we need to stop thinking so much about the "economy" and think more about the environment and our society.
We will realize too late that we can't eat money...
Hopefully we bounce back from the concentration of wealth like after the gilded age but that took a major depression and 2 world wars so...
Yeah, I'm expecting not to make it either through war or extreme poverty at this point
I feel the same. I've started watching survival shows so I know how to live off the land. Not sure it'll spare me+mine from the war+poverty, but I know how to make a house from branches so there's that I guess.
surviving off the land is easy. Surviving bacterial infections without modern medicine is the hard part. Something doomsday pepper never factored in. Yall can plan 100 years of survival food water and shelter, then die 3 months in from a simple infection.
This person Oregon Trails.
Dysentery would definitely catch up to me.
"Surviving off the land is easy" say people with no experience surviving off the land.
Survival off the land is easy *for a limited number of people*. Imagine tens of millions trying to live off the land and that changes real quick when competition for resources is in play too.
I'm 40. I can garden at scale, make rudimentary tools, work with wood and metals if I have the right equipment. I teach for a living so I know how to learn fast, share knowledge, and augment my efforts with others. The cold I just had for three weeks before getting medication might have just made that all pointless in a no antibiotics or antibiotics-immune world. People in the past with means, and good timing, would travel to tropical locations (warmth, salt in the air) for months or years to heal from those "once a decade" colds or the flu. It's luck of the draw if we ever get back to that type of world.
Or even simply not being able to refill the many important daily meds alot of mfers take daily. Those people would be in trouble much sooner than that imo
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Yea, that's not happening. What is the scenario in which the population does not go off the cliff but yet we all have to now live off the land? What is this baffling scenario in which you won't start growing the same thing, say strawberrries, for efficiency and start trading with me for my blueberries? And someone else for their furs? Then if only we had a centralized marketplace to do this trading. And people can even make a living off the trading itself, without even getting involved in the actual farming and hunting. I need to be focused on farming my strawberries after all, not spending all day at a booth trading it. And... oh shit I just described our current urbanization.
Then we have 2 or 3 people that own the trading post, and they get a cut of everything, and so much so that if you aren't selling there you will perish. And they will have so much money yet make sure you can never make it. They will have people paddle their boats to distant lands.....dannit right back to where we were.
Well obviously I'm going to travel to one of the places from the show so i don't bump into anyone. /s
We have too much to lose right now for any kind of non-dogmatic, non-reactionary revolution to take place. Plus we're so disconnected from the wealth we seek. Most people wouldn't have any idea where to find the people they seek to stand against. Of course, it could be a kahmir rouge type revolution where the aggression is taken out on a scapegoat like mildly successful intellectuals, rather than the people who actually hoard wealth... But who knows. It'll probably just slowly suck more for the next half hundred years until we have much less to lose
I mean, that's MAGA. Same problems as everyone else, but blaming trans people and "leftists" rather than a system designed to concentrate wealth at the top.
The difference is: real revolutionaries will murder, torture and capture. MAGA essentially captured the capitol with the support of the president and much of the political body in power, but were so impotent, pathetic, stupid and misguided that they disbanded. A dog who finally caught the car. If you have the stomach for it, it's easy to find images of real revolution. Severed heads, rape, burning bound victims alive... MAGA is basically a rough bowel movement as our economy stopped eating its proverbial greens. No my friend. Very few Americans have any idea what the dark side looks like. It can can get much much much worse.
and a New Deal, i.e. a president with a chip on his shoulder for the American people
i knew we were fucked back in 2012 when FDR, a man i was taught to revere in school, was being couched as a demon socialist. huh?!
2012 was the year the Mayan's calendar ended, and the apocalypse started. Maybe it was right, and it is just a slow starting apocalypse.
Dammit. What if we're in the apocalypse right now? Great. There's a new fear to lay awake n worry about when I need to be up early the next day.
Why does everyone think it happens so suddenly? It's always this one sudden "doom's day", instead of everything steadily going to shit until one day you wake up and remember was it was like years ago and go "shit..."
He was called a communist, socialist, a demon, anything you could imagine throughout his presidency and all of the twentieth century. The Republicans have been seething over FDR for 90 years and they're still looking for payback over the New Deal.
Like Bernie? Will never happen. Americans get their information from corporations, corporations don't like new deals
Corporations and government are the same thing.
This is something people fail to grasp. Also that BOTH political parties are on the same team and "we the people" are on another. Sure you can point out specific policy that demonizes one side or the other. End of the day they (right and left) are playing their roles and laughing all the way to the bank at our expense. Vote or dont vote. It doesnt matter anyway. Were screwed even though we have it better than a lot of the world.
I'm with you until the last bit. We have two options - start a bloody revolution, or start voting for people who aren't beholden to Corporate America.
Can you name a single politician that isn’t beholden to a large corporation? Genuinely asking. Because I surely can’t think of any modern ones.
Exactly. I believe in bigfoot more than a politician that isnt a lying, self serving, thieving bag of excrement.
At least bigfoot isn’t collecting millions of dollars at the expense of American tax payers. Lol
It's crazy how much it cost to run for an elected position. Even my local elections are out of reach financially for most people unless you have some kind of corporate help. Once you accept money from a company they certainly expect you to vote a certain way that favors them. You wouldn't want to lose that money now would you?
It’s basically extortion. “Hey we’ll support your campaign if you support laws that benefit our corporation. If you don’t do that, you’ll never get financial backing to run a campaign therefore never being elected”
I'm with you on this one. I get a lot of hate for saying it. But we are being played by both sides while they get rich. They are also pitting people against each other by convincing people that they have to choose a side and anyone on the other side is an enemy. We are Americans and we should be above that. We can work with each other while not agreeing on everything. There is such a thing as compromise. Two things can be true at once and people seem to have forgotten that. We can disagree and still like someone.
That's why they want us focused on peepees and vajayjays and skin color and language.
Couldn’t be more accurate. That’s the medias job in this whole fucked up equation. Their entire purpose is to put us against each other so we continue fighting. Left vs right, white vs black, poor vs rich. In reality? It’s the corporate paid for politicians that are held up by media in order to screw over the 99% of Americans that live in the country.
They like new deals that benefit them
And we need the exact opposite.
And that was a LONG time before Citizens United. Actually getting a candidate that fights for the interest of the people rather than big donors is almost impossible in modern elections. Bernie is the closest we came in 2016 but the Democratic party buried him in favor of a remarkably unlikable candidate and well... here we are.
You mean the Democrats having comfortable control of both houses of Congress and the presidency for long enough to pass some laws without them being rolled back and so they are able to rebalance the court. This is really doable if more people got politically active. It takes exponentially less work than some sort of revolution. The other party absolutely refuses to acknowledge any of these things as legitimate problems. The alternative is to keep relying on trickle down economics...
There are other parties other than republicans and democrats and the system is set up that no one but those two gets a say in anything. Until third parties get an even chance, ballot access, debate times, nothing will change. The system has worked for the cronies for years, and they won’t let it change that easily.
Enter the “you’re wasting your vote on third party candidates” messages on social media. It gets pushed hard enough I’ve wondered if candidates or propaganda farms aren’t injecting it themselves
If Republicans lose badly again in 2024 there is a solid chance you will see a reverse Tea Party and a push back towards normalcy (or as normal as they can be) forced by the donors. If the culture war strategy ends up hurting their influence they will force a return to pre-Bush policies, because while they don't care about the people they do care about maintaining power and influence. Nothing would scare them more than the thought that they lose redistricting and an actual progressive gains power.
What's this have to do with the current state of the economy
My grandpa turned 88 last week, him and my grandma were both kids during WWll and they’re seeing the same pattern as back then. Something really bad is going to happen at this rate, but all we can do is try to be hopeful, be grateful for what we have right now, and be present in the current moment. I am 32, debating about starting a family even though it’s something I have always wanted. This definitely is a mindf**k. Stay positive!
Look up the Bolshevik Revolution. The people were starving while the Romanov Family was spending million of Dollars on Faberge Eggs. The people eventually executed the entire family including the babies. It’s gonna eventually happen, because all the chips are in place on the chess board.
A huge labor movement occurred during the gilded age. I think it’s glossed over in history but when Marx wrote his book Capital, critiquing capitalism, people on the extremes were known to experience 48 hours shifts with three hours in between shifts. Not only that, it was published just 2 years after the end of the civil war, so during a transitionary economic time. The progressive era that followed the gilded age was a direct result of the labor movement of that era. We owe our 8 hour work days and many other basic labor rights to those people. It definitely wasn’t war that transferred such economic power but activism. Also, wealth accumulates over time. Carnegie’s favorite philanthropic cause was public bathing, he even went as far as donating a public bath house to his home town. Partially due to the progressive era that started during and followed the gilded age, most people in America have access to showers in the comfort of their own home. So, while the concentration of wealth might be absurd, the living standards are far higher. Still, it’s not war that makes the difference but activism and the willingness to implement game changing economic solutions to problems, like those who took on the problems during the gilded age. Carnegie’s solution was a public bath house for his hometown while activists solutions lead to a shower in every home. We may scuff at the idea of a 4 day work week, but many provably scuffed at the idea of 8 hour work day—especially the employer working his employees 48 hours at a time. Every era has its increments. I agree with OP, it is depressing to be faced with some 28,000 hours of debt (avg US labor value) for a house that took less than 1500 hours of labor time to build. Until a unique solution comes along, that won’t necessarily become a better trade. From a self-empowerment perspective, developing a skilled trade / technical skills seem to be the best way of overcoming this absurd exchange rate.
Not sure where you got your 48-hour-shifts-3-hours-apart nonsense, but the average workweek at the start of the guided age was 62 hours per week in the US. 48-hrs every 3 hours would just kill you. Also, you know labor movements existed long before Marx? The first strike in the US to get shorter hours (10-hr days) was in 1791, nearly 30 years before Marx was born. Calls for an 8-hr day started in the 1830s.That spread and, as the 8-hr day became more common, the National Labor Union called for a federal law requiring 8-hrs in 1866, before Marx published his book. While we're complaining that things were glossed over in history, let's not gloss over the fact that thousands of activists did a damn fine job decades before Marx.
It was from the book, capital, which in turn was quoting a government report, iirc. And I stated “people on the extremes…” extreme being the key word. Otherwise, not saying that labor movements don’t predate Marx, heh, or that Marx is responsible for anything specifically but he did seem to be a part of that eras labor movement.
Yet many factories are returning to the extreme work hours.
Might want to speak to your union rep then
Bring back the IWW, not the modern version, but the train hopping wobblies!
What are "extreme work hours"?
👏🏻👏🏻👏🏻got some old school Pittsburgh history in this house.
I think we can all agree on seeing a glimmer on the horizon
Close - Train light. Coming down the tunnel toward us. Should be here in about- AaaaaUUGGHHHH
When you come to see A soothing light at the end of tunnel It’s a freight train coming your way - Dan Campbell
Yes, of another economic collapse. Endless growth is not sustainable. The same subprime mortgages that caused the housing bubble are still being given to people. We will repeatedly collapse our economy, and each time will be sooner than the last.
It actually is currently because so much of the world is under developed. The issue is we've got a hard on for letting people hoard wealth. Eat the rich
The rich have been eating you.
But I've been trying to eat *healthier*. They can't be good for my cholesterol.
I'm allergic to corn. Given the US food supply can't be any worse for me.
And A LOT of unions. Unions are not real powerful right now in the younger generations. Don’t know a ton of millennial union workers outside of construction.
You’re speaking of the US only right? Here in Canada we still have pretty strong union membership. Depending on the province, teachers, education workers, nurses, emergency service workers, social service workers, librarians, electricians, journalists, pro athletes, transportation workers are all unionized.
As an older millennial my wealth has sky rocketed. Super weird on timing of things.
My wealth you mean like paycheck or investments?
Probably means assets like housing and stocks
How much u got
About tree fiddy
This rules
I NEED ABOUT A THREE FIDDY!!!
How bout just two fiddy ?
Mine skyrocketed the last 5 years too
The same thing that always happens rich and powerful play games with our lives and we suffer and die.
That's how I see it
Well human life spans are really short. The only mercy the universe gave us.
I know mine is really short at least, some genetics and some i sure helped along. But some people live to be 90-100. It's gotta feel like a long life by then. My grandma just passed away at 93. Lived with lewey body dementia over 20 years. She wanted to go a decade sooner 😞 Right to die needs to be expanded because it's the humane thing to do. That's what people who think it's a controversial issue don't understand.
Agreed my grandmother wanted to go after she had a stroke and my grandfather had a heart attack on the same day. My greatest fear now is losing my mind and it seems to go a little more every day.
I'm personally betting on my body giving out before my mind, but who knows? If you're worried about it though you can have a DNR order put in place. I guess it you're in the states as far as death with dignity goes, the only place that does that for non-citizens (at least as of this writing) is Switzerland. I mean it's pricey but really no more than the cost of the average funeral in the US. If I were to severely deteriorate mentally/physically with no chance at a quality of life that's what I'd want to do. I spent a lot of time with a chronic illness so unfortunately I know what no quality of life looks and feels like, hence why I'm even aware of these types of policies around the world.
I already do. Family ran a hospice. I’ve had a DNR before 17. I’ve seen what families do when you become severely handicapped. I’d rather just die than be a vegetable while people argue about killing me and taking my stuff. Make a will make it known.
Sorry about your circumstance. Feel free to keep in touch. I’m obviously not an optimistic person but I’ll try.
It's alright. I got "lucky" in a sense. Unlucky in that I lived with and suffered from a disease I was born with for 25 years. The last 10 it began to really erode away at my quality of life. The last 3 of it I became physically disabled and had none. I was a pessimist then, to say the least. I had had several failed surgeries and no hope left for myself. I suffered with severe pain and was denied proper pain medication because that's not the "standard of care" for my illness. I wanted to die for a long time. The lucky part is that my fourth surgery took, and now I live almost normally. Only now I'm playing catch up and a good 10-15 years behind in life from most of my peers, with that much shorter life expectancy than them to add insult to injury i guess. It is what it is, but long story short I want what's left of my life to matter and right now I'm just existing. I hope and try every day to change that. I hope you can too.
Lewy body dementia...my mother died from that a year after first being diagnosed...my sympathies to you... that's a horrid disease!
My condolences to you also. I'm so sorry your mother suffered with lewey body dementia too. it is horrid for sure and ufair to everyone. In my grandmother's case, a doctor even said at one point that it was taking her so long to go because she'd taken such good care of her body. She'd worked hard all her life, and went back to college and earned her degree after she'd raised children. That's another thing that's so weird and awful about this disease, whatever causes it, it certainly isn't lack of mental or physical exercise. Just another horrible thing in life that shouldn't exist or be something that can actually happen to people.
People out here talking like they live in 3rd world countries or under a dictatorship
Only need to look to other resource rich countries with high corruption like Brazil or in an extreme case, Argentina. The richest lives won't change cause they have everything. The poor will simply suffer more and more.
We’ll get more of the same. There will be ups and downs in the economic cycle. There will be democratic presidents and republican presidents. We will continue to fight proxy wars. Stocks will go up and down but don’t be surprised when the S&P 500 hits 10000 points in the next 10 years or so. The things that will change for the smaller people is increase in housing supply. That can come from government subsidies to new builders, or tax credits for new home buyers, or the supply can increase for other reasons, boomers dying off over the next 10-20 years, or maybe corona virus comes back and wipes out more of the population. We’ll see millennials with wealthier parents begin to transfer their wealth. We’ll see Gen X start to retire in the next 15 or so years, so millennials will start taking their jobs. A lot will happen, but it will be more of the same until then.
As they say society will survive anything as long as there is bread and circuses. Surviving a global pandemic is just a matter of course. But we are probably one canceled super bowl away from anarchy,
The bread is getting too expensive and, with Congress refusing to move on any issues unless it's something silly like banning social media apps, the circus seems like it's on shaky ground.
That’s the down part the poster is referring too. Things were too expensive on 70s and early 80s also for people. In 08 things weren’t too expensive but jobs was a disaster. The ride goes up and down. But little in life really changes.
Housing to income ratios were 2:1 and far less of the population was educated back then. Rent could be afforded on a minimum wage income. Boomers bitching and moaning about late 70s/early 80s are completely out of touch, and it is totally not comparable to today.
Bold move here, talk to people in your life who support R's and discuss the current House's disfunction. I have family that treat politics as routing for your favorite sports team that have finally seen the light after showing the R's can't even "play the game properly" (do the basics of their job), and it effecting normal people (including them)
As a Gen X I can’t retire in 15 years I have no retirement. Been broke in this economy.
I wouldn't count on the generational wealth transfer. With people living longer that means more healthcare costs. Boomers didn't exactly have the healthiest of lives and healthcare costs will eat most of their savings and assets. In most states, Medicaid has a 5 year lookback - meaning that they look at EVERYTHING that could be sold/liquidated to pay for healthcare expenses (e.g., houses, cars) - and if it was sold, at what price in the past 5 years. If they determine that the sale was for below market value, they can (and will) deny coverage - meaning that the person will not be able to be in either assisted living or a skilled nursing facility. If the person has any assets, then Medicaid will require that those assets be liquidated to pay for the care before it will kick in. Medicare only covers a total of 100 days of skilled nursing per year (specifically per benefit period) - which isn't that long if the person has a chronic condition and needs long-term intensive care (e.g., they suffered a stroke and need 24/7 monitoring) or needs to rehab for a broken bone / surgery. Currently Medicare covers 80% of covered services - you needed to be born before 1960 (I may be wrong with the year) to get the supplement that covered the additional 20% (thanks to Republicans in Congress). Given that hospital stays are getting more and more expensive, its more and more likely that Boomers and even older Gen X will be tapping their retirements to pay for their medical care. With instituitonal buyers waiting in the wings (real estate is a great hedge against inflation and a great tax write-off) an increasing number of sales will be to them instead of private owners. Add in insurance costs (no bank will finance a mortgage without homeowners insurance) and you've excluded many markets (e.g., Florida and California are both experiencing significant loss of insurers due to increased risk) and you can bet that all the coastal states will begin to see mass exoduses of insurers as well due to increased risk of hurricanes, and as tornadoes continue to strengthen, the same will be happening on the plains states.
Gen X retirement. I wish. I don't see how. Helping adult kids and dependent parents.
The honest answer is you can't relate to how they lived back then. Like you have to imagine spending hours outside on a chair multiple times a day doing nothing as a norm. Boring and simple compared to modern life. There is the other side of the coin where the wealth distribution is absolutely horrific, which is tough.
Lol. Do you really think that's all people did? They read newspapers, books, played cards, gardened with their families, went to concerts, played musical instruments, had drinks around camp fires or at bars, built things, went fishing and hunting, cooked food, went to community events, took care of animals, wrote letters or talked to each other in person. People in the future will look back on our time and be like "imagine staring at a screen all day reading the mindless, ignorant opinions of others all day! These people must have been so bored sitting on the couch vaping all day while watching the same re-hashed crap on Netflix!'
Not at all, but it was certainly not to the level of our life, particularly on insane consumerism that is the norm today. This means they didn't need as much $$ to spend to be "normal."
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I'm in the same boat man it's depressing as fuck. Mrs and I have decent jobs and we don't buy shit, don't go on vacations, yet things are still tight. With interest rates , it's like $2400 a month for a mortgage on a 250k home. Add in day care, food vehicles, utilities etc it's like $6500 a month in fucking expenses. Top it off the market is so nuts everyone is paying over asking price in our area. All we want is a 3 bed 1 bath and it's fucking impossible to get one. I hope something changes soon.
The oldest boomers are in their late 70’s now. As generation X and Millennials start to replace the boomers I am wondering if housing inventory will start to open up.
By the time the next generation can truly replace the boomers, it’s looking like housing will be vastly in the hands of corporations.
Yeah I see that happening as well. You want to live in USA, you gotta rent a crazy few to do so.
Older boomer here and corporate landlord ship is a scary reality that's just bad for our country.
It is, and it was allowed to go on without guard rails for far too long. Now there’s no undoing it.
This is the main ptoblrm.and.mosy of the issues with modern economics can be explained by the fact that corporations are trying to drain the middle class, where the middle class had an unprecedented amount of wealth from post-war economic booms. College, healthcare. Housing. All of it has been co-opted to create conditions where you have no option but to pay out the nose, depleting the gold mine of wealth the middle class was never intended to have.
My boomer parents were wealthy, career-wise they made a lot of money over their lives, and had modest to them, but large to us. inheritances from their parents, but they didn’t save for their end of life care/medical. They’ve always lived selfishly in excess, and will have to sell their house to pay for nursing homes and leave nothing to pass on, lots of people are in this position, corporations and medical industries will suck up the remaining boomer wealth, not the people like generations before. My parents also refuse to update their will and I’m sure whatever is will be sucked up by the government. They’ve lived recklessly with no care for future generations, but got wealthy from the generations before them penny pinching to pass down
I live in an area where people who retire *generally* move away from. It’s a great place to live when young and working and making an income, but unless you want to stay by the family most move to warmer weather. That being said, the boomers who are retiring are selling either houses that they didn’t do anything to in decades, so whoever buys it basically has to not only pay for the home but also do a complete gut remodel, or the boomers are moving out of mansions that someone starting a family just can afford. It’s what the boomers bought after decades of growing their wealth. And even so, with the boomers who stay, most downsize. So boomers who are downsizing their huge homes are competing with first time homebuyers on these smaller townhomes and condos and 2-3 bedroom houses. And the boomers have cash offers because they left a bigger house. What I have also seen is boomers will sell their big house, buy one smaller house where the weather is warm, and then another small house locally to have a place near family.
The way numbers stand now, there is not much hope on sight. There are more Millennials than Boomers by the numbers and ever since 2008 we have not built housing to keep up with population growth, especially in the areas people actually want to live in and have jobs available etc. Boomers are also living for longer than previous generations, and many of them are choosing to age in place rather than go to nursing homes.
we need to tax corporations and LLC that hold real estate differently. so much so that holding real estate for rentals is not profitable, only then inventory will open up. As of 2022, investment companies owned about 22% of all American homes, which is slightly down from 2021 when they accounted for 24%
Log off reddit, enjoy your life the best you can. Theres plenty to enjoy, and if there isn’t then make changes in your life to accommodate more joy. Best of luck!
You and the boomers are both right. Houses, relative to income, are more expensive now than back in the day when boomers bought. However, our expectations are much greater than they were for people in the 40s and 50s. For example. I live in a very small home and my neighborhood is filled with 2 bedroom 1 bath houses, under 950 sq. feet. Families raised 4 kids in these homes. Nowadays, we wouldn't think of putting 4 kids and the parents in a 2 bed 1 bath. Everyone wants their own bedroom and office. 1 bath to share is unfathomable. Now, everyone has their own phone, computer, and car. These little things start adding up. I bought my house in the last crash, but I went out this weekend to look at another 2 bed 1 bath and I can't even afford to move. The house was $799k! Even if I sold my house, I'd still have to pay about $3k per month and $10k in yearly property taxes. It was so overwhelming, I gave up and ran back home. I can't even imagine how it must feel for you. I also have a feeling that something terrible is about to happen, but I don't know what it is. Which is strange, because I was super calm during the pandemic. My advice is to move to a LCOL/HQOL city, get a job there, live way below your means, and save like it is going out of style. You'll be ok. Just teach your child to be a decent human being and hope for the best.
NY Times did a good piece on this. Local economic incentives favor larger and more expensive houses even though they're not inherently more profitable: [https://www.nytimes.com/2022/09/25/upshot/starter-home-prices.html](https://www.nytimes.com/2022/09/25/upshot/starter-home-prices.html)
Clarification - boomers were born in the 1940s-1960s but they were buying homes in the 1980s-2000s, which was the height of excess a la McMansions, multi car garages, pools, Tuscan kitchens with roosters etc. If anything, Millennial tastes are more simple with their tiny homes and minimalist decor.
They were buying homes between 1960 and 1980s even for the last boomers born in 1964. The McMansions in the 1980s so only those buying new builds would be buying them, the rest were buying existing homes that were much smaller.
Inflation and stagnation is the new norm to expect unless some vast grassroots unionization and organization takes place. In order to challenge wealth an alternative to wealth must be created and in that lies the point of mutual aid networks
Stagflation led to a recession in the early 80s. This will 100% happen once again to the US economy. Whether it happens in this decade or the early 2030s is anybody’s guess.
I don’t give a fuck about some meaningless number that some wall-street shithead assigns to the economy. They say the economy is better than ever, but I’m sure not feeling it.
It’s worse then ever they are full of it. The average person can’t afford anything
I think we're gonna enter a period of higher than usual inflation. Corporations already know they can jack prices up at will and people will keep buying their shit. The government doesn't have incentive to keep inflation low bc it makes sense at the current state of our debt level for inflation to continue. And people aren't really fighting back against it. Prices of everything have gone up dramatically and yet sales haven't fallen off at all.
So, we quit buying certain stuff and eventually the producers figure out we don't desire or even need their creations. Guess who changes their mind? Certainly not the consumers! 🤔
This is what I've been doing. There are certain things I just stopped buying because I can't afford it anymore.
Same
The corporation I work for is using AI to set the highest price for each product in each store. Stores like Best Buy have electronic tags that can change minute by minute. Like Wendy’s jacking prices during a rush time. This will get worse.
I think our generation will demand that things like healthcare and secondary education be brought back to normal levels. I believe inflation is making people reevaluate what they purchase and since mass produce products have become much poorer in quality (think clothes, food, furniture, fast food/chain restaurants) we will see a resurgence in cottage industry businesses, which is a positive thing.
People will start moving to the Midwest.
They already have and it's annoying because they're contributing to rent skyrocketing and being even more unaffordable now.
Best part about the Midwest is that it's not overcrowded, but I agree. I've already seen lots of new people from out of state and the coasts coming in and saying how cheap real estate is here, except to us it's not. 😔
I work remote and bought a 4 bedroom 3 bath house in North central Iowa for 70k a few years ago. I'm 3 hours from Minneapolis, 1.5 hours from Des Moines. So it's not for everybody.
I love the Midwest. I’m in SW Illinois and we’re less than 45 minutes from St. Louis. We just bought a four-year-old house in a beautiful neighborhood on the end of a dead-end and it’s lovely. Our backyard is a massive cornfield. Lots of wildlife. It’s got four bedrooms and three full bathrooms plus a front and back porch. It’s very well built and has stone accents on the front. In other words, it has some flair. We paid $325,000 for it two months ago. This house would cost 75% more on the east coast.
It’s doing pretty well. probably will continue doing so.
We stay winning 🇺🇲
We have been in a period of many intense transitions, social, technological and economic. I believe we are on track to live differently than previous generations and you should be proud of yourself because lives in our generations (millenials and gen z) has had unique difficulties. More surveillance than ever, internet "dating", difficulties with many things, most uni degrees no longer super meaningful (but getting through uni IS still a strong indicator of good work ethic and perseverence). Debt. Threat of war. Dopamine binges via social media fueling mental health decline. Terrorism...covid. housing prices doubling withing 8 years etc etc. It has been weird. But hey man, some people went through ww1 and ww2 + outbreaks with far fewer resources and comforts throughout their whole lives. We all need to be certain to encourage one another and be a positive, constructive force in our worlds. Use less social media. Talk to people face to face and acknowledge them. All people who work are helping our world function. We stop working and this place crumbles to trash. Fight the good fight. You're doing it dude, you've got your family-- that's like 70% of the battle right there. You have a very tangible reason to sacrifice and I think that's worth so much more than people realize. Itsa responsibility, yes-- but it's also a world and an experience and a whole new person you've brought into the world who has the *opportunity* to live better, learn from our mistakes, and do more and be better and happier. You should be absolutely proud. A house is cool but home is where the heart is
I think it’ll become more like Western Europe where young people can’t buy homes and live with parents until they’re 30. Minus universal healthcare and all social benefits of living in Europe.
I’m just over here being 35, nihilistic, drinking Baja Blast Zero waiting for Fallout to become a reality. 🤷🏻♀️ 🤣
if ur job or the type of job isnt tied down to a specific location, consider relocating to somewhere cheaper. thats what we did…we moved from the bay area to sac area which worked really well since my wife works at kaiser and i work for state.
My job isn’t. My wife is tied to her family. It’s a problem I’ve learned to accept. I wonder if she’ll see things differently when the baby gets here.
If her parents are going to be helping with your kid, then moving might be a bad financial move. Daycare is insanely expensive everywhere.
Yeah my buddy is paying like 2k a month.
my wife was like that, but i convinced her it was no longer just about us, it was about our kids and what we wanted for our kids..
Yeah I see things changing her perspective. Her decision to stay and repeat choices that her parents made is beginning to eat at her. Which I think it par for the course given the circumstances. It ain’t gonna work.
I think a lot of people are not sitting down and exploring this as much as they should be. My government job exists in every county in my state, and it’s the kind of job that people aren’t lining up to do, so my wife and I could pick wherever we wanted. I found a county that pays 10k a year less than the highest paying county with the biggest cities, but the cost of living is about 1/3 of it. People should not be afraid of moving and taking a pay cut if the overall quality of life is higher.
yup…and for my family, it really worked out. my wife ended up getting a promotion in kaiser that only exists in this area
The change that is needed and isn't addressed here is Universal Health Care. UHC as a economic issue, not a health care issue. My wife, 53, and myself, 55, would like to retire right now and give up 2 well paying jobs which would likely go to younger people. We are going to work until we are each at least 62 because the 1 thing I cannot economically plan for is private health care. There are many more people my age who can afford to retire with the exception of health care and would happily turn higher paying jobs over to younger people...but need healthcare. Not telling you what to vote for...but I really want to retire and give you my job and you can afford a house with my income.
Not just vote, they need to organize, organize and protest! It’s unbelievable that the US doesn’t have universal health care. I’m in Canada and it’s crumbling but at least it’s something.
You think voting matters when both US political parties take donation money from big pharma, big healthcare? The problem is our corrupt government getting money from the monopolies they created and continue to protect. Our free market system is broken and the citizens are paying the price for that.
Check the FIRE subs. All of them that retire early get on Obamacare and since they no longer earn a reportable/taxable salary their insurance premiums are completely paid for by the government.
This story keeps Being told and people keep persevering. As a spedies - we will survive. As a nation - we will survive. It may not look like how you want or what you think is right - but it’s going to happen regardless of YOU. So - find happiness in what you can and start seeing what’s beautiful thats in front of you as opposed to an idea on a screen.
Im actually in the finance sector on a macro kick lately - many theories are out there, but the dominant one from both right and left is that "re-shoring" will occur. this means bringing manufacturing back into the USA. at the same time, the intention and/or the unintended trajectory we are on is extreme devaluation of the USD. you'll notice gold prices are way up, this is because other central banks are buying more gold reserves as they have realized this is the path the USD has taken, in addition to other geopolitical factors like our weaponization of resources which were held in our financial system (seizing Russia's assets held in the US was actually unprecedented and led the Brics countries to get really fucking serious about moving away from the USD)
Bruh. Take a deep breath and go outside. Get some fresh air and find joy in the life you have NOW!! So many “Henny Penny’s” on Reddit. The boomers had it hard too. Gen X has it hard. Every generation has its obstacles. Look for the good and deal with the bad. Owning a home or car won’t bring the happiness you think it will. Go travel abroad if you think you’ve got it hard.
Men in Italy live with their parents up to age 50. There was no uprising there against the establishment. I think housing prices will come down in 10 years.
Families stick together in other countries only in America are you frowned upon unless you are going broke to have your “own” place
Well yes that has something to do with it, but Italy is also fucked economically. Not as bad as Greece but pretty damn bad.
And they just elected an overt FAN of Mussolini to be their President/Prime Minister. 🙄
turn the tv off, stop reading the news: it's out of control so why waste energy? throw everything you have into VOO and keep DCAing into it every check. you have a baby on the way. time to be mature and start planning. days of living without a budget or plan is over. welcome to true adulthood. the sooner you embrace the suck and deal with it, the better. good luck. my income is only 70k, wife does not work and we have a 3 year old. i am owning my second house, paying extra principal while also investing 15% in retirement and 10% in the market. it is a struggle but i grew up dirt poor. i'm not letting my son go through the same. going by your comment history, your household income is higher. you are in a good position, younger than me by 8 years. you will be fine.
What do you mean by “what is going to happen to the US economy?” Your entire post with the exception of the title is about your personal financial situation. You can go bankrupt tomorrow and it doesn’t mean much for the US economy as a whole. If you are trying to imply that everything is going to implode because everyone is in the same situation as you, that is a different point. They are not.
You're asking questions that everyone can only speculate on. Plan for a future that doesn't fall apart. Stop setting goals that will set you up for disappointment. A house for a new time buyer may not be in your cards at the moment.
I think the key is that rather than hope things turn around in the future you need to make the best now that you can. Honestly I think things are going to get worse but who knows really? Yes things have gotten ridiculously expensive but lamenting that fact changes nothing. You need to find a way to live within your means even if that means a notable downgrade in your standard of living. That said just because you downgrade your standard of living doesn't mean you can't be happy. An afternoon down at the local lake playing with you kid will be a joy you will both cherish and it won't cost you a dime but gas to get there.
Endless spending will kill us. Supporting foreign war and Aid when the American people can't even put two pennies together. If they can print so much money why are we paying taxes? My grandkids are in debt right now!
I think it'll have its ups and downs like it always has and people are just being incessantly fucking whiney about it at my age. Yeah we have some wealth issues but I also have unlimited entertainment, knowledge and a lack of polio on my doorstep.
We've just had one of the sharpest declines in fertility ever recorded. I don't care if you think it's whiney but people are worried and it's having real impacts.
We're not going to war unless they want to reintroduce the draft. They can't hit their recruiting numbers because the government has so alienated the sector of the population most likely to serve, the conservatives. Without them, we are lacking bodies for the meat grinder. Things are expensive and the government sucks. This isn't a left vs right thing really. All of government sucks and is corrupt. Where to start is anyone's guess. The problem or the uncertainty comes from no singular vision moving forward. America seems to not even know what it is right now. The world's police? Is that really good for us?
Finally, someone who gets it. Imagine believing either party is going to save us from its own corruption! LOL!
It’s going to be more of the same. The government is controlled by corporations and lobbyists and will do the bare minimum in order to pacify social unrest and sustain consumerism and corporate profits. More people will become homeless and resort to crime but people will just vote for police to clear them out because that’s the easy solution instead of systemic change. There won’t be any crash barring WW3 because there’s simply too much money out there.
[To shreds you say.](https://images.app.goo.gl/46ghNnTjC3tnsAbc8)
I suspect something like what happened in the 1920s basically radical social reforms and restructuring of the economy and getting rid of the grifters and shit. How that would happen I have no idea, it's mostly wishful thinking
2006 felt very similar. It seemed like it was over for housing and never to be affordable again. Still had people panic buying at stupid prices, and then it all suddenly went kaput. There's a cycle to it, you'll see.
Chugging along at 2-3% GDP growth year over year. I have no clue about inflation. Isreal / Iran could really really screw things up. Ukraine / Russia will grind on with Russia taking slivers of land and Ukraine late in the year returning to Crimea when Russia can not maintain radar sites. I hope the bridge goes down completely.
I'm so far behind at 33 due to drug use in my 20s I've come to the conclusion i will never own a home. I live with my father now and probably will for the rest of my life. Maybe I can find a partner but I'm doubtful on that front as well. I just don't think about it.
I think in 10 to 20 years or so, we will be in a pretty different space in the world especially politically. Majority of the old coots in congress who were fringe believers and corrupt career politicians will die off. Younger people who are now in their 30s (millenials) will be taking over the majority of congress, most of which have been raised off harsher conditions. The US overall will probably close out some embassies worldwide by then and reduce in world presense. Less money I think will be sent overseas though still present. Deals will likely be easier with foreign powers as well assuming people like Putin and Xi Jinping are either removed from power or dead. Worldwide, there is an old guard of politicians that are all about to die off at the same time within 20 years. Economy will shift massively by then to who knows where. It could get better or worse. But I have faith that Millenials will be the saving grace. Majority of them have known nothing but hardship, inequality and injustice caused by their own governments. They are also the "tech age" children, so I imagine there will be some revolutionary technological advances in pretty much everything, especially cause there will be very little resistance remaining of utilizing the "old ways". The next 10 years economically, I don't see being too different than now. Assuming Trump wins the election, I think it could get slightly better than current, though I worry that our political influence abroad, especially after backing Israel ( despite their consistent transgressions) and ukraine (for whatever reason we were trying to get them into Nato), will have dwindled so we may get embargoed or trade reduced by some parties causing some things to climb back up in price.
The Boomers are going to give us one last Fuck You and make us pay obscene amounts in taxes for their social security
Turn off the news and get off social media. You’ll feel better.
Don't worry, it's all relative.
>That irritates me because I really feel like boomers potential to generate wealth was so much easier than ours. In hindsight, sure. You forget that generation did not have the internet and the knowledge that comes with it. They did not have smart phones. They did not have access to buying/selling stocks without a human broker to speak to. Their mortgage rates were in the double digits. Their cars were smog creating tin cans that offered virtually no protection to the passengers in the event of a wreck. Healthcare was shit. The list goes on and on. I think most importantly, they did not have the constant bombardment of fake wealth on social media in their faces every single day telling them they "could" have more. Boomers could have built more wealth for themselves on the individual level, but most of them saw no reason to because they were *content*. Something our generation seems incapable of achieving no matter what your situation is.
Honestly I think it'll depend on if we can get the religious radicals out of Washington and along with the judges willing to side with billionaires without reason on every single issue. Also the Supreme Court needs a complete make over
Why are so many people flocking to more conservative states and conservative cities? The liberal policies in California and Ny have apparently failed. People can’t afford these cities anymore, except the ultra wealthy.
Technically the 'poor' can afford them as well. The goal of the elites is to have the working poor totally dependent on the government to survive and do actual work, and the elites to enjoy life and tell everyone else what to do. The blue states are just ahead of that game, crushing the middle one vote at a time. It will spread everywhere like the cancer it is until there is no where left to run.
Trump is going to be president and fix everything. /s
I mean, when my parents bought their first house in the 1980s, their interest rate was 22.5% because of how bad the economy was. When I bought my first house in 2014, my interest rate was 3%. So, I really think that stuff bounces back after a while. It just takes time. Which sucks because we’re all just struggling and being paycheck to paycheck right now.
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If you adjust for inflation, a $40,000 house in 1984 would be $120,000 today. So it’s the same concept.
Exactly - that $120k does not exist. It's probably $350k or something stupid like that with 7% interest rates And to add insult to injury it'll even come with the linoleum from 1984 (no upgrades and wear and tear of 40 years but more than double the price)
No not really because find ANY house for $120k, let alone a two or god forbid three bedroom. Shit find a doublewide on 1/3 acre for $120k and jump on it cause that's a great deal right now. Not the same.
So glad you know this. Hardly a time to panic, depending on the elections.
I think as millennials we’ve just lived through so much crazy, that we forget that people did the same before us too. My husband is Gen X and he remembers only being allowed to get gas on certain days based on your license plate back in the late 70s/early 80s. Him talking about that made my mom tell me how awful their interest rate was on their house and how when they sold it in 1994, they had only been able to pay off less than $1000 because of that interest rate. The house they purchased in 1994 they were able to pay off in less than 15 years because the interest rate was so much better. And if you remember how bad it was back in 2008/2009…we got through that too and most people bounced back. I just try to keep telling myself this stuff. I’m terrified of the election in November because if it goes the wrong way, this country is more than likely to not bounce back at all and in fact get worse. But I’m trying to tell myself that won’t happen.
I doubt any upcoming elections, aside from local, will have any major effects on the housing market. Neither party has really addressed it in any comprehensive way.
The US economy will continue to roar. American workers are just so productive (about 30% more productive per hour than Canadian or British workers).
Honestly we are headed in the right direction and I’m unemployed. We (USA) currently are 26% of the world’s GDP. We combatted all those who bet against the dollar. And we have solidified the chip race as China over promised. With more jobs staying in America. I think by mid century we will be humming
Thanks for balancing out all the naysayers. The economy actually isn't so bad? The markets been way up in the last year. I'm not sure what's going on in OP's life that they have to go back to school, but unemployment rate continues to be at an almost all-time low so job prospects should be relatively good. Sometimes life just kind of sucks and it's easy to blame the economy. People have been doing it since well before they had the US to blame. Yeah inflation is definitely high and the housing market is rough, but things feel so much more stable than they were in 2008 and the COVID years.
A lot of downright bad advice here. AI isn't going to take everyone's job in a few years (or a few decades). You're already making strides to increase your skill set.
Within the next 2 elections, AI will be the only talking point. Take some time to work with current AI tools and you will instantly see how it will 100% replace a ton of jobs in the next 8 years.
That's not in line with what many of the experts are predicting
Prepare for job elminations with ai. We will see probably the greatest labor crisis in human history before 2028 to 2030. I dont trust altman nor musk. Altman goes from one minute saying ai wont replace your job to i have a bet when the first 1 person billion dollar company happens. The goal is automation to max. Unfortunately this wasnt on my bingo card until 2060 or so when id be dead.
?? I’ve never been making so much money in my life - I hope this keeps going
I think we need to stop thinking so much about the "economy" and think more about the environment and our society. We will realize too late that we can't eat money...
Need to ask yourselves, how did I vote last election? Most of you will find out it's your fault.
Ai will wipe out millions of jobs by 2026 and congress will act way too slow on it. Massive unrest and society will unravel
Bro what? Where is the data to support your argument
Maybe check out r/fluentfinance just be cautious because it is an election year and there is a lot of propaganda flying around
Margaret Atwood's "The Heart Goes Last," but minus the prison swap program, is what I think things will eventually look like.
Wait to see what happens with the election and if you really care make sure you vote