3 ms·
A combination of debt, joblessness, globalisation, demographics and rising house prices* is depressing the incomes and prospects of millions of young people acr
by cmdrfred 11y ago
A combination of debt, joblessness, globalisation, demographics and rising house prices* is depressing the incomes and prospects of millions of young people across the developed world, resulting in unprecedented inequality between generations.
* The question is if all the other factors are true, how can the prices continue to rise?
- branchless 11y agoHouse prices continue to rise because it's how we print money. Govts want "growth" when this simply means printing more. So they let banks take more of our labour for the same pile of bricks and then tell us things are improving. Of course we can't include house prices in inflation fully because that would short-circuit the soft default.