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I have a (completely unresearched, unfounded, probably not accurate) theory that the exceptional prosperity in US that the boomer/early-gen-x generations saw, w
by raydev 4y ago
I have a (completely unresearched, unfounded, probably not accurate) theory that the exceptional prosperity in US that the boomer/early-gen-x generations saw, which had ultra-cheap housing relative to income across the US, ultra-cheap everything in the US, industries expanding so fast that schooling became less important in the US, all of that was a fluke.
For a couple decades a majority of people in the US had effectively gotten coupons for half-off everything they desired.
It wasn't normal, but it made those generations in the US so mentally lazy that it effectively poisoned huge swaths of the following generations, fooling them into thinking it was always going to be that easy. So now we're trying to sort out exactly why those born and raised in the US are doing so poorly now.
- rawgabbit 4y agoAfter WWII, Europe's industry was effectively destroyed. The USA enjoyed prosperity as it was the only industrial power left standing. The unemployment rate from 1951 to 1953 were 3.3, 3.0, and 2.9 percent. [1] Anyone who wanted a job got a good paying job. It was possible in those days for the average American to support a household as the sole breadwinner. What is happening now is that those halcyon days are over. Things are more competitive. We have not approached the cut throat levels as they have in South Korea. American jobs today pay less and have less benefits than in the 1950s. We are headed towards a two tier economy. Full time employees with benefits. Gig workers who wander from job to job with no benefits. https://data.bls.gov/timeseries/LNS14000000 https://data.bls.gov/timeseries/LNS14000000