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The story we were telling young people that if they apply themselves, go to school and get a job they'll be able to afford family, house, vacations is moving fu
by raziel2701 2mo ago
The story we were telling young people that if they apply themselves, go to school and get a job they'll be able to afford family, house, vacations is moving further and further away for more and more people.
The turn towards financial nihilism will continue.
- trvz 2mo agoYeah, but it’s also plain greed, and it’d be hard to tell the ratio.
- purpleflame1257 2mo agoThe threshold for greed is higher than the median net worth of an American. We tell people they need "generational" wealth to a make it in this country because housing, education, and healthcare are all so expensive
- itake 2mo agoNo need to tell. Just look at who can afford detached single family homes in tier1 cities: white-collar Dual-income and generational wealth families. Governments have only managed to slow, not stop or reverse this trend.
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- FabHK 2mo agoSeems to me that many people do not care about part 3 anymore.
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- Terr_ 2mo agoWhile "financial nihilism" is part of it, I think we should be putting even more attention towards the forces that are trying to deliberately encourage it for profit. Kind of like pathological gambling: Sure, some people are susceptible, but there's also an entire industry around finding them and making them succumb.
- kelseyfrog 2mo agoWe live in a capitalist society, not a labor-oriented society. The way to make big money is through capital - ie: purchasing property and then selling it for (hopefully) profit. Laboring in a capitalist economy is a loser's strategy because your capital is you body's ability to produce value and that has a maximum physical limit. Why participate in an economy using a strategy that has a natural upper bound? It makes no sense. You're not even playing the game poorly - you're not playing the game at all.
- Behemoth66 2mo agoDid it never occur to you how the vast majority of people acquire initial capital is via labor?
- kelseyfrog 2mo agoThe vast majority of lottery winners buy lottery tickets.
- dozerly 2mo agoThis is the logical end conclusion, but in reality, we live in a middle ground where plenty of people have and will live in a society where they can sell their labor for a perfectly content life.
- thrance 2mo agoThis is becoming less and less true by the day. Salaries are dwindling while the stock market is roaring, and it's already the case that speculation brings more income in this country than work. It's not sustainable, capitalist societies always degenerate into a society of owners who get the majority of the wealth while workers get scraps. This is what's to blame for the social unrest the West is experimenting.
- wasfgwp 2mo agoA healthy and successful society can’t exist in combination with a winner takes all (or strongly leaning towards it) economic system. While the pie is growing due to increasing productivity for the most part it’s still zero sum.
- ToValueFunfetti 2mo agoThis doesn't make any sense. The population has experienced massive uplift over the last few decades. Their parents weren't going on vacations with the family as kids, they were struggling to put food on the table. Houses are outpacing inflation, but the home ownership rate continues to climb.