4 ms·

And yet, people consume more healthcare, education, and live in bigger homes than ever before (as measured by consumption statistics). So that clearly can't be

And yet, people consume more healthcare, education, and live in bigger homes than ever before (as measured by consumption statistics). So that clearly can't be the issue. I think this paper hits on a bigger issue: http://www.ddorn.net/papers/Autor-Dorn-Hanson-MarriageMarket.pdf http://www.ddorn.net/papers/Autor-Dorn-Hanson-MarriageMarket... As men's employment opportunities drop relative to women's, their value in the sexual and marriage markets drop significantly. And women's employment opportunities have done nothing but rise. Female hypergamy is probably the real issue here.

nine_k 10y ago
It's not hypergamy, it's paper money. The realty and education bubbles are inflated by cheap credit. The cheap credit in the US exists mostly because Federal Reserve can print more money, and the whole world will buy. "There is a huge demand for $100 bills worldwide." If not dollars, US government papers ate considered safe, no matter the amount printed. This is also makes US labor unable to become cheaper and compete with the places where it currently escapes. Hence some of the problems with dad jobs.
enraged_camel 10y ago
>>And yet, people consume more healthcare, education, and live in bigger homes than ever before (as measured by consumption statistics). So that clearly can't be the issue. Of course it can. Ever heard of debt?
- noobiemcfoob 10y ago
  > Ever heard of debt? I lold. Shouldn't there be corresponding data on debt then? National individual debt rising in relation? Without data on hand, though, I do believe that has been the case
  - enraged_camel 10y ago
    We have plenty of data. Take a look at this: http://www.slate.com/articles/business/the_united_states_of_debt/2016/05/the_rise_of_household_debt_in_the_u_s_in_five_charts.html http://www.slate.com/articles/business/the_united_states_of_...
    - idiot_stick 10y ago
      What about rising household net worth?: https://fred.stlouisfed.org/series/TNWBSHNO https://fred.stlouisfed.org/series/TNWBSHNO
      - ArkyBeagle 10y ago
        That's mostly housing, which was financed by debt.
- mee_too 10y ago
  Debt is not magic. Somebody or something has to build the houses, provide the healthcare and education.
  - arcanus 10y ago
    Yes. In the case of debt, that somebody or something is being financed by the future.
    - woah 10y ago
      What does this mean? Someone builds a house and has their livelihood provided for while they do it. Once the house exists, it can be used for shelter. Money is imaginary. What is "financed by the future" and what does it mean?
      - dvtv75 10y ago
        Student loans. That's what "financed by the future" means.
      - gaius 10y ago
        It means that money is worthless unless it can eventually be converted into goods and services that you want. Debt means "money now, goods and services in the future". But what happens when you arrive in the future - as inevitably you will - and those things aren't there?
  - ArkyBeagle 10y ago
    It kind-of is magic - that is how money gets created.
divbit 10y ago
Maybe that is the case for some, but I think your argument misses a large percentage of the workforce, which is, the part that is already married and / or has kids.
slv77 10y ago
As a side note... While the housing stock is on average larger is is also significantly older than it was 30 years ago.
- ArkyBeagle 10y ago
  New houses are built to what I consider exorbitant prices. People finance 4x annual income or more. The thing being sold is really the debt instrument, not the house itself.
jimrandomh 10y ago
People are spending more on healthcare, education, and housing, but they aren't getting more; rather, the prices on these things have gone way up.
- yummyfajitas 10y ago
  Incorrect. See the AIC (Actual Individual Consumption) source cited here: https://randomcriticalanalysis.wordpress.com/2016/09/25/high-us-health-care-spending-is-quite-well-explained-by-its-high-material-standard-of-living/ https://randomcriticalanalysis.wordpress.com/2016/09/25/high... AIC - measured in PPP and inflation adjusted terms - has risen in the US and Europe.

nine_k 10y ago

It's not hypergamy, it's paper money. The realty and education bubbles are inflated by cheap credit. The cheap credit in the US exists mostly because Federal Reserve can print more money, and the whole world will buy. "There is a huge demand for $100 bills worldwide." If not dollars, US government papers ate considered safe, no matter the amount printed. This is also makes US labor unable to become cheaper and compete with the places where it currently escapes. Hence some of the problems with dad jobs.

enraged_camel 10y ago

>>And yet, people consume more healthcare, education, and live in bigger homes than ever before (as measured by consumption statistics). So that clearly can't be the issue. Of course it can. Ever heard of debt?

noobiemcfoob 10y ago
> Ever heard of debt? I lold. Shouldn't there be corresponding data on debt then? National individual debt rising in relation? Without data on hand, though, I do believe that has been the case
- enraged_camel 10y ago
  We have plenty of data. Take a look at this: http://www.slate.com/articles/business/the_united_states_of_debt/2016/05/the_rise_of_household_debt_in_the_u_s_in_five_charts.html http://www.slate.com/articles/business/the_united_states_of_...
  - idiot_stick 10y ago
    What about rising household net worth?: https://fred.stlouisfed.org/series/TNWBSHNO https://fred.stlouisfed.org/series/TNWBSHNO
    - ArkyBeagle 10y ago
      That's mostly housing, which was financed by debt.
mee_too 10y ago
Debt is not magic. Somebody or something has to build the houses, provide the healthcare and education.
- arcanus 10y ago
  Yes. In the case of debt, that somebody or something is being financed by the future.
  - woah 10y ago
    What does this mean? Someone builds a house and has their livelihood provided for while they do it. Once the house exists, it can be used for shelter. Money is imaginary. What is "financed by the future" and what does it mean?
    - dvtv75 10y ago
      Student loans. That's what "financed by the future" means.
    - gaius 10y ago
      It means that money is worthless unless it can eventually be converted into goods and services that you want. Debt means "money now, goods and services in the future". But what happens when you arrive in the future - as inevitably you will - and those things aren't there?
- ArkyBeagle 10y ago
  It kind-of is magic - that is how money gets created.

divbit 10y ago

Maybe that is the case for some, but I think your argument misses a large percentage of the workforce, which is, the part that is already married and / or has kids.

slv77 10y ago

As a side note... While the housing stock is on average larger is is also significantly older than it was 30 years ago.

ArkyBeagle 10y ago
New houses are built to what I consider exorbitant prices. People finance 4x annual income or more. The thing being sold is really the debt instrument, not the house itself.

jimrandomh 10y ago

People are spending more on healthcare, education, and housing, but they aren't getting more; rather, the prices on these things have gone way up.

yummyfajitas 10y ago
Incorrect. See the AIC (Actual Individual Consumption) source cited here: https://randomcriticalanalysis.wordpress.com/2016/09/25/high-us-health-care-spending-is-quite-well-explained-by-its-high-material-standard-of-living/ https://randomcriticalanalysis.wordpress.com/2016/09/25/high... AIC - measured in PPP and inflation adjusted terms - has risen in the US and Europe.