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I really hate people that idolize other people that get it wrong just as much as they get it right. The baby boom generation isn't retiring, they are rapidly d
by than3 3y ago
I really hate people that idolize other people that get it wrong just as much as they get it right.
The baby boom generation isn't retiring, they are rapidly dying because they are now in their 70s/80s and that's what happens when old age takes you.
When there were downturns, the experienced workers crowded out the entry level positions normally used to build job experience. This has set back and snowballed every generation after the baby-boom generation.
This lack of experienced labor, coupled with the massive amount of currency debasement means we are going into a period of high inflation and low production but its more about the currency debasement than anything else with regards to inflation. You can't print money to pay debts owed indefinitely. Like any ponzi it eventually has consequences.
Many generations starting with Gen-X were hobbled at vulnerable times in their financial life. There is no predicting what is coming aside from the generalization that there will be lower birth rates because people are less financially secure, and have no say because representatives are only responsive to campaign contributions (see tweedism larry lessig).
There are times in our lives where if we don't have children, then it doesn't happen for a large majority.
You need to be debt free and have a downpayment of a house by 30, and children no later than 35 for women. Mortality, complications, and birth defects kicks in after that.
Children are expensive and the cost is borne by the parents. Simple economics, if the cost of labor goes below what is needed by a family unit to support the mother and father 2 children to 18 then it doesn't happen. This was well known in 1776 only back then it was 4 children because of mortality.
Something so widely and commonly known being so completely ignored by the people who are supposed to know best, really goes to show how bad things are going to get.
- patch_cable 3y agoSeveral of my friends working in tech in their 30s rent apartments and have children. Having a house isn’t a requirement.
- maerF0x0 3y agoespecially if the purchase price of the asset exceeds 21x annual rent (a rule of thumb about purchase prices). Buy when annual price is < 19x annual rent. Rent otherwise. If you've already bought then just hold on the for the ride!