My Y daughter is doing well, maybe it will be shitty for her to buy a house or condo but she can. My Z one, yeah, I'm helping her, paying stuff here and there like groceries, microwave, etc, she's in her own flat and all and is not too bad but still, rent is 40% of her earning. It's ok to help your kids.
I mean, despite the rampant bootlicking seen in that generation, boomers didn't create that system. They're victims of it as well, just victims that generally refuse to see it. My mom absolutely has been fucked over by capitalism, and has fucked herself over helping her kids. But she acknowledges why, and agitates for something better. My dad is a victim of this shitty system, too, but was so brainwashed by cold war propaganda that he can't see it most of the time. :/ tldr fuck the boomer politicians and brainwashers, try to help regular boomers realize they're just as much a victim of this shit as we are.
No no. The system they built was great. The thing is, the system was changed by them, just in time to rob all the younger generations blind, then stood back and watched it happen, did nothing, and then they have the balls to blame us when we can't independently thrive in the system they stood by and allowed to be built.
So... If the boomers didn't give money to their children, what'd they do with it? Sit on it for 10 years, die, and then pass it to their children?
Articles like this are either missing the grand picture or they serve someone else's interest: Making boomers spend their money on leasing luxury apartments and other crap, so there'll be no inheritance. Leeches are the enemy of all generations.
My parents spent most of their time getting drunk and trying to be 18 again. I wouldn't really call that a good setup for their kids.
Tbf, the boomers came of age in the 70s, so the economic system was well in decline by then.
Part of the problem is a secular cycle. The baby boom of the postwar period helped fuel a big economic expansion that helped people for a while, but eventually the power of individuals fall because there's so many people.
Most boomers didn't want their jobs to move to China. China is starting to experience the same secular cycle ironically.
Many millennials were the same age during the gfc. Are you to blame for that? Are you to blame for the debt expansion and money printing that have promised to destroy the next generation? Zoomers came of age during covid, are you to blame for covid policies that destroyed the economy?
reaping what one sows comes to mind
or the classic 'well, well, well, if it isn't the consequences of my own actions!'
I have no savings for retirement. Every spare penny I invest in the success of my family, mostly my own kids. I don't need to go to Florida and hang out playing golf.
Wrong way to see it, yeah the boomers are rich but a lot of Gen X are broke as shit too. Kids cost money, and with the direction the economy is going, it is just the sad reality we face.
I am extremely thankful for the help my parents have given me, my dad was broke as hell for most of my childhood despite working his ass off, and this was pre-2009 recession, the recession made it worse and it is only recent he is starting to get a real foothold on finances.
Children cost, who would have thought.
The era of a strong economy was brought on by factors from WW2 and the weakening was brought on by 2-3x growth in world population.
More people fitting into the same cities means less space and more demand.
More people means more workers for jobs that pay even less because the competition is fiercer than ever.
More people means more percentage of resources going to surviving and less on luxuries.
We can give a small % of global population luxury. US QOL isn't sustainable on a global scale with the resources available in the world.
"Fuck planting a tree, I'll never get to sit in its shade!"
1% of the U.S. population holds >31% of the country's wealth. Is it any wonder so many of the rest of us are broke?
Late Gen X with a Gen Z kid here, not contributing nearly as much to my retirement as I should be because I'm supporting her through college (without loans). We inherited this shit and we're sacrificing ourselves for the sake of our kids. I don't know who's to blame, but we've been dealing with this shit our whole lives. Don't blame us; we're trying to help
Have they not figured out yet that this whole capitalism thing is imploding on itself
Not your fault but "They built a terrible system" is wrong too. If your parents were congressmen or business owners, you might have a point, but the actual affect the average person has on the system is negligible. The rich and powerful were going to destroy it.
That's why it doesn't really matter who sits in the presidential chair, bad laws still get made, and only the absolute worst get repealed, because they all overall agree with the direction of the country, it consolidates their power when they get it. People think "Things will get better under Biden" should really have been saying "Things won't get as bad as fast." because that's more accurate.
It is, at least partially, an inevitable consequence of an educational system that, whether by design or by accident, makes social mobility really difficult. Accessing advanced education often requires financial or personal sacrifices that are harder to make for lower income parents and kids. This is also compounded with the fact that in many places there's a perception that if you want a really good job you will need to go through this advanced education.
I was in that situation myself, I was always told that I couldn't expect to get a really great job in IT unless I went to college, which was unfeasible for me both financially and in terms of my aptitudes as a student. But fortunately for me, I discovered that my country had a vocational education system that prioritized the quick transition from education to employment, and a mere year and a half later I had a decent job, six years later I am an engineer. Turns out it wasn't necessary to go through four years of extremely expensive, pointless hoops, I only needed a chance to prove myself in a professional environment. It only cost my family 800 euros in two payments, now we are doing well financially.
So yeah, maybe just maybe if there were more systems in place like that, we wouldn't be reading how more and more parents are having to sacrifice everything just to give their kids a chance at some sort of future, you know?
Idk maybe I'm rambling.
I don't think it is the way forward to lay blame on our elders, or to be disrespectful towards any generation other than our own. Some people are stupid, some are not. Stupity is not dependent on age. We all blunder through life and fuck up sometimes. Beeing smarter after the fact isn't that much of an achievement.
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Haha. Good. Suck it.
