4 ms·
> Look around and tell me that the general middle class American is worst off than they were in any other decade of modern America Funny, my whole generation h
by redisman 6y ago
> Look around and tell me that the general middle class American is worst off than they were in any other decade of modern America
Funny, my whole generation has basically given up on basics like owning a house completely. But we got cool tech gadgets so it all evens out?
- dlp211 6y agoThat isn't a consequence of globalization. I don't want to downplay the seriousness of this, because I agree that is a problem, but not one caused by globalization, but rather NIMBYism. And this goes into my point about security and government.
- listenallyall 6y agoEven more so, by Federal Reserve ongoing policy of extremely low interest rates. If the long bond yielded 5% you'd see MUCH lower real estate appreciation, and if it got there quickly, prices would certainly drop significantly. With that said, there are plenty of affordable places to move to, they just aren't super sexy and cool. But even San Francisco and Brooklyn were completely uncool not that long ago.
- chordalkeyboard 6y agoSome would say that outsourcing labor overseas has contributed to this.