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So did the masses that thought money grew on trees. Masses, mainly middle class 30s-50s somethings in the 2000s, bailed out by non-property owners - non owners
by throwaway167 3y ago
So did the masses that thought money grew on trees. Masses, mainly middle class 30s-50s somethings in the 2000s, bailed out by non-property owners - non owners as they'd been priced out or were having none of the madness.
A great proportion of wealth, the greatest in US history, was accumulated by this group during the 1990s and 2000s, and has only continued to grow from the bailing out to support their pension funds directly through supporting stock prices, and indirectly with low interest rates flattening discount rates thus boosting fixed income (bond) values while (the long term interest rate being the long term return on capital) depressing return-giving growth for a decade.
The Atlantic article fails to cover this aspect: that their readership's cohort fucked everyone else.