I don’t understand the point of these posts - at this point we all understand that the economy has changed in the last 60+ years and even changed dramatically in 2000, 2008, and 2019 in rapid succession.
I’ve seen a lot of danger in belaboring these sorts of point, often sowing the seeds of hopelessness, generational dissent (which ultimately isn’t productive), and it never seems to come with a meaningful call to action or what better advice would be.
Which is concerning given the rising rates of depression, anxiety, and suicide attempts in younger generations vs previous.
My parents, particularly my father has zero understanding of life in the current zeitgeist. They live in a bubble of 80ish year old people. I told my dad recently i still had 40 years left on my mortgage and he said "but you have had the house for 5 years already, it should be almost paid off..." I'm not kidding, that is exactly what he said, this is the world he lives in.
why would an 80 y.o. of any generation understand the current culture? Boomers know what the world was like when they were young, when their brains were at their peaks. X'ers know their young adult decades best. And so on.
Old people are out of touch bc they are old. What they are experts on now are the pain and confusion of mental and physical decline. They need young people's advice about the current economic situation, bc their experiences are less relevant with each passing decade, yet if they have enough lucidity, much of their non-economic experiences can still be useful. You just have to tailor their experiences to today's reality, be they know very little about much today's economy
well, I mean the fact that there's even a need for 40 year mortgages these days is a dead giveaway that things have obviously gone to shit...for like a hundred years the "regular" term for a mortgage was 25 years, there wasn't even such a thing as a 40 year mortgage...and most people with 25 yr mortgages, if they had a good income, would pay off double each month, and extra whenever they had it, and be able to pay off the entire thing within around 10 yrs or so...
nowadays we NEED 40 and 50 yr mortgages and people can barely even pay regularly each month for those, barely making ends meet
massive difference in the world we lived in even 25 years ago and the world we live in today
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u/draconicmonkey 18h ago
I don’t understand the point of these posts - at this point we all understand that the economy has changed in the last 60+ years and even changed dramatically in 2000, 2008, and 2019 in rapid succession.
I’ve seen a lot of danger in belaboring these sorts of point, often sowing the seeds of hopelessness, generational dissent (which ultimately isn’t productive), and it never seems to come with a meaningful call to action or what better advice would be.
Which is concerning given the rising rates of depression, anxiety, and suicide attempts in younger generations vs previous.