I’m an “elder” millennial… I’m 40+.
Pretty much everything went to shit right after I got to the workforce. It was somewhat subtle at first, but it’s only gotten far worse and far more obvious as time has gone on.
Kids? Nah bro. Have you seen the world? I don’t want to live here, why would I subject someone that I care about to a life, living in this hellscape? Like all parents, I’m sure I would love my children if they existed and even though they don’t exist, I still love them enough to not subject them to gestures at everything this.
I haven’t gotten a meaningful raise since starting work. I was originally hired at basically minimum wage, a bit better than it in my area (ironically, my starting wage in my career is now below what minimum is now), and the only time I went up in salary is when I changed jobs.
With more than half a dozen years of experience (this is a while back) I was fighting for anything over $60k/yr (it gets worse), while housing in my area was skyrocketing above $400k for a modest home…
After the usual expenses of food and rent, I’ve been robbed blind by being given no choice but to buy things “as a service” and own fucking nothing. I’ve pushed back against it as much as possible and after years, I paid off my vehicle and absolutely, positively, 100% own this now 13 year-old car. Whoopee…
I’ve lived through everything from 9/11, to Trump… Twice… And nothing has ever quantifiably gotten “better” without getting worse in some other way.
Better, faster, more capable computers? You’re obligated to run software that spies on you. Better cars with fancy tech that makes them basically drive themselves? Only if you subscribe to activate the seat warmers for a nominal yearly fee… Phones are more capable, better, faster, more connected and overall significantly improved? These are now devices used by companies to harvest every meaningful ounce of information from you, selling it to the highest bidders (multiple times, I might add), and giving you nothing for your contribution. Congratulations, someone has monetized your existence via an app on your phone.
Everything is worse. You never have time off work anymore. Even if you take vacation, the expectation is that if they call you, you’ll answer, then you’re working for free. But if you don’t answer, then your job is at risk.
Fuck everything. This world sucks. I’m fucking sick of all of this shit and I’m mad as hell about it.
Same position and age as you, except I got diagnosed autistic and ADHD at 33. Haven’t been able to work in the one field I have any training in for decades, as that now basically means call centre work which triggers migraines (now known to be sensory overload).
Can’t afford to retrain, can’t get disability to help with costs because of UKGov cycling disability claimants through tribunals to massage the statistics. I lose the disability, I lose my funding. I get the disability back plus back pay, but am still booted from university for not being able to pay in the mean time.
G fucking G. I guess I just wait around until I die or get angry enough to commit an act of political violence that leaves a mark.
I was diagnosed with ADHD a few years back… Just shortly before I turned 40.
I’m lucky that seems to be the only thing my brain struggles with. After about a year and a half, I found a combination of drugs that works for me, and I’ve been doing ok, as far as my ability to think, concentrate, or focus at work goes…
I’m in Canada, so we have similar issues with our social support programs. I know this because, while I got off light in my diagnosis, my brother has far more severe ADHD symptoms, and he has other medical complications that make treatments difficult at best. I won’t go into his medical issues since that’s not my story to tell, but from a high level, most of the problems root in the fact that he was diagnosed with type 1 diabetes in his mid-teens…
He’s actually registered in the disability system and I’ve helped, or at least tried to help him navigate it and get to a point where he can do anything and get any support at all. Needless to say, I get it. Our system isn’t super different from the UK system. Personally I think it’s shameful that we give such a hard time to people with diagnosed disabilities, it’s not like those disabilities are going to… Idk, stop being a thing? It’s kind of a life long problem.
I’m lucky in the fact that if I continue taking the meds, I’m more or less “normal”. I have a steady job and I help my brother as I am able.
None of this is to detract, compare or “one-up” your challenges. The purpose to saying all of this is that I get it, I emphasize with your situation. I hope you are doing better and that the UK disability system stops fucking up your coverage so you can get back to living your life.
All the best, from across the ocean.
Still “experimenting” via my GP with various meds. Perhaps one day we’ll stumble onto something that works.
Glad to hear you’ve found a regimen that works for you though, and that it enables/better places you to help your brother.
Ultimately, helping each other survive existence with the minimum of anguish is the best any of us can be.
As for UKGov (or CanGov for that matter) getting their collective heads out of arses and not using disabled folk as easy marks, I suspect much worse is to come before it gets better. This place is like a microcosm of the US in a lot of ways.
I appreciate your well wishes all the same 💛
I agree, helping eachother is the best any of us can be. I’ve dedicated my life to helping others.
My dayjob is IT support, and I am often holding certification in first aid (I currently need to renew this), and I have a lot of skills that I’ve developed specifically to assist others. I have, know how to operate, and actively use radio technology as a qualified amateur and regularly volunteer for events to help communication and coordination between medical teams, security, supplies and other services at public events.
I even carry a car battery boost device in my vehicles trunk for the odd time I come across someone who’s car won’t start, and I have a set of booster cables in case the battery in the pack is flat… As an example. I usually have a first aid kit in there too. Just in case.
There’s a lot we could, and probably should be doing to help ourselves and others; I firmly believe that basic emergency first aid and CPR should be a part of the highschool curriculum, and we should learn how to access social services like disability services, welfare, unemployment, and other government services, in highschool as well. Instead we take classes on English in countries where that’s the native language, yet people still don’t know how to articulate themselves in a comprehendable way, and we take several years of maths classes, including algebra, geometry, and so much more, that most people never even see similar problems again ever… Instead of teaching algebra, how about a class on how to file your taxes?
I have a lot of strong feelings about it and bluntly, nobody with any possibility of enacting change, cares.
I strongly feel like highschool failed me, and most of the people in society, and it could be so much better, and there’s simply no evolution or evaluation of what’s being taught and what’s actually relevant for people to know.
In any case, I hope I can continue to help others and that’s the biggest reason why I’m still alive. I’m trying to make this place a bit more livable for the people that are here.
We share a lot of traits and opinions it would seem.
It’s uplifting to come across someone who reminds you that there are still at least a few worth fighting for, that not everyone is a self-absorbed asshat with an axe to grind or agenda to push.
School in general in the UK is a bit of a shit show, slowly getting more and more privatised with each successive government. “Privatisation isn’t working… Maybe we’re not doing it hard enough…”
Perhaps the things your economy relies on should not be placed in the hands of organisations whose very raison d’être is to extract the maximum possible profit possible for themselves…? Energy, transport, education, healthcare, food supply; all privately owned and decreasing in quality while costing more, and, to rub salt into the wound, the entities responsible then dodge as much tax as is possible.
Our supposed “Labour” party is captured by self-serving neoliberal corporate puppets that are beholden to the extremists running the US right now.
They’ve recently announced that they’re going to make it even harder to claim disability benefits, and those that still make it will be paid less than currently. In almost the same breath, they were excited to let everyone know that they’re going to either cut or get rid of the new Digital Services Tax designed to ensure Amazon, Google et al actually pay tax to speak of. Because, y’know, Bezos needs another new yacht.
Honestly, it seems we’re long overdue to remind the politicians who they’re actually supposed to work for. If that means a few heads have to come off to get the message across loud and clear, I’m certainly not upset about it. I don’t see things getting better until that level of event occurs, to be frank.
One word for you. Antidepressants
Here’s one for you: Empathy.
Ha. I’m on them. The meds I take for ADHD are classifiably also anti depressants.
What now, Poindexter?
I think the worst part is that we do, in fact, know it will get worse… But we were raised thinking we’d all live in big houses and be free of debt by now.
Millennial about to turn 41.
I’m tired.
I’m not particularly fond of my fellow Americans anymore.
And I don’t have an ounce of patriotism left.
This country can go ahead and fuck itself. Which it appears to be doing pretty thoroughly. Dumbest fucking country in the history of the world if you take into account its wealth and influence compared to its quality of life and happiness index.
Weighing how much effort/money it would take to get Canadian citizenship and whether I have that kind of energy left in me.
At this point I think if anyone loves America they’ve bought into Republican brainwashing. I don’t think I could love this country. Anything good has been stripped away.
The best parts are the natural wonders and some of my best friends. My friends can come from anywhere and aren’t beholden to their birthplace. The wonders are only wonders thanks to conservation, and Republicans want to strip mine Yosemite for oil and coal.
Man, I felt this so hard. Every word of it.
My only two cents beyond that, I fear Canada is too close.
I’m an ‘84 baby like you and recently I’ve been trying to remember when the last time I actually felt national pride.
I keep thinking maybe in the general upswell of national pride post 9/11 but that was probably mostly mob mentality and juvenile ignorance.
I am proud to be a Minnesotan though! When I’m abroad in the country the other Americans I meet seem generally decent but it just doesn’t feel like home if I’m outside of my state.
'81 baby here. My parents told me I’d jam along to Reagan’s “Born in the USA” ads in my underoos with a tiny plastic guitar. I think that’s the last time I felt national pride.
Hey, you can always move to EU. Decent healthcare and stuff. It’s not perfect by any means, especially now but it’s so much better than the shit I see happening around. Makes me feel happy I was born here.
very true but i don’t want to put the burden on y’all, I want to bring the EU to my part of America and tell the federal government to fuck itself
If I had money I would move. But if I had money, most of the issues would be solved in the first place.
Millennials were also the generation that got to watch the surface web turn into an abandoned mall.
Good times.
Agreed.
But I still debate whether or not unrestricted internet access as a older kid/teen was a good thing or not haha. I’m sure we’ve all clicked links we regretted or went to those sites (rotten, or other shock sites). If we didn’t see all that shit growing up, would we be different? I’m not sure, but would be interesting to see some research on this (there may be some already, I haven’t looked).
Anyways, I recently found a great website for lemon-themed recipes. It’s www.lemonparty.org, check it out!
Ah yes, the site for learning more about trump’s upcoming plans. Good share.
Early 2000s internet was so good. I don’t know that it’s possible to go back there. You needed it to be a little bit wild west, you needed to say “Hey, if I click this website, am I going to regret it?” But folks were generally real (except apparently the girls I talked to in AIM chat rooms, but hey, I survived).
18/f/cali is a mindset, not a statement of fact.
“We don’t know why are all the younger generations depressed! They just need to buy less avacado toast and they can buy a house…”
-clueless boomers.
First year Gen X-er here. We know why you’re depressed. We went through similar things, believe it not. I often wish I could share how scary living through the 80s was – often fearing a nuclear apocalypse, environmental decline, wars, riots and unrest all over the world, politicians who didn’t give a damn or had no idea how to make things better. Nobody listens to you when you’re in your 20s. It seems most now think the 80s were just like Family Ties. Not so.
But this too shall pass. You can help make it better by getting out there and working with the good guys. Don’t give up.
Yeah there’s definitely some rose tint looking back to the 70’s, 80’s, and 90’s. Crime was ridiculous compared to the levels these days, just for a start. But it was just ‘normal’. We’ve made a lot of progress there. Which is about to be undone as people get increasingly desperate.
There were several energy crisiss that kneecapped a lot of the 70s and 80. Nixon, the Vietnamese war, the fall of the USSR. All those things were monumental moments in history and we survived. The world isn’t over yet, but Trump is really trying to make everyone jump to the end game
I missed seeing Russia collapse, but I live in hope it will happen again in my lifetime.
My parents lived in the mountains for much of the Cold War. We crowded around the radio daily to listen if the risk of the actual apocalypse was any closer. Several times we thought it was about to happen. Several times it really did almost happen.
I hope we don’t get to that point again. I really thought for most of my adult life that the USA’s deep trade ties to the rest of the world along with other super-powers would ensure some level of stability and peace. And it did.
Past tense.
The important thing is to follow in the footsteps of our elders and obliviously cast shade on the next generation(s) (should they be so lucky to exist).
Don’t forget to stop buying those fancy Starbucks coffees.
“Clearly it’s the phones fault! The phones are to blame, not us voting in fascists and ignoring the incoming climate holocaust!”
I had a discussion about this very thing with a Boomer, who proceeded to state they essentially went through more and including the shared recessions that myself as a millennial went through. Gas shortages of the 70s, wars, protests, etc, failing to grasp the point that was being made that their generation has had all the opportunities. They closed it out with, oh well maybe you should work harder and save more… yeah okay, hard to do that when I am overtaxed, inflation is on the rise, were likely entering Great Depression 2.0 thanks to Donvict, can’t afford a house when a mortgage would be cheaper than renting where I am at, but sure yea I will just work til I drop with little living in between, that’s the fix, its not the system, its me. Their “I got mine” attitude is astounding dismissive and part of the issue with their generation. Not all of them, some of them get it, but a large majority look at millenials and the younger generation as being lazy and that’s why there is such a massive homeless population problem. Not that wages have not grown proportionally with the cost of living, its just that we don’t work hard enough. I half joked that the greatest thing that could have happened was that COVID wiped a large swath of their generation off the map, it would save Social Security, free up housing, bring down the burden on healthcare, lower GOP voting base of angry bigot whites that hold on to the belief that America is only right if it is white, a large part of politicians that have made a career out of it would be removed ushering in a new more modern means of thinking into politics, and we might actually make some progress in this country. But nope, now we have angry Karens and racist Kyles who blame immigrants for all their problems rather than looking at the disparity between American generations.
I’m about to turn 39. I just want a home or apartment of my own. Why is this happening? Why did the stupids get so powerful?
King Crimson’s Epitaph lyrics, from 1969, sing:
Well, knowledge is a deadly friend, when no one sets the rules. The fate of all mankind, I fear, is in the hands of fools.
I knew these wasn’t going to well when I used Epitaph to see Trump winning re-election, King Crimson can’t skip me past the next four years…
Jojo references aside, I should listen to more of that band; Court of the Crimson King, which I listened to in order to try to better understand Diavolo’s character, was pretty damn fire
Oh, King Crimson is the finest wild ride ever. They did things that couldn’t be done anywhere else. However, I don’t know anything about Jojo. I just started listening to KC in the 90s, when they were producing their last memorable original works. They are truly amazing. My favorite albums are the one you mentioned, Discipline, Lark’s tongues in aspic and Thrak, though, Red is highly praised by most people. Also, if you can watch them live, even these days with the band getting old, they are an absolute delight.
Have you tried Necrophagist’s Epitaph? Technical death metal is a much more appropriate genre for these trying times.
Why is this happening? Why did the stupids get so powerful?
This isn’t unique to the modern moment. Your parents called their elders stupid. Alphas will call Millennials stupid. But if we want to get to the real disparity between ideologies - the reason so many people are getting MAGA pilled in the face of seemingly obvious disaster - it really does just boil down to our mass media poisoning our brains.
Fifty years of misinformation, con-artistry, and industrial scale commercial fraud has given birth to a population that is simultaneously desperate for a White Knight to come save them and so steeped in cynicism that they accept idiots and assholes in power as the best we’re capable of doing. Whether its Trump or Biden, Bezos or Musk, Wolf Blitzer or Alex Jones, there’s this baseline understanding that “My guy might suck but the other guy is so much worse”.
And the deadliest poison of them all is the pride - the implicit assumption that you can’t trust anyone but yourself because you’re surrounded by morons. We’re increasingly alienated from one another and exposed to manipulation by computerized algorithms A/B testing us for our biases. Divided from one another, with our hatreds toward The Other inflamed while our access to basic necessities increasingly gated, we’re pushed into deeper and more vulgar polarized camps micro-managed by demagogues and other influencers.
“The Stupid” is just the fear - of our looming poverty, of our dangerously polarized neighbors, of declining health and diminished free time. It’s not idiocy, its anxiety. We’re acting rashly because we all seem to know we’re being boxed in for the slaughter and none of us trust anyone else to recognize that we need to work together to escape it.
It’s not the stupids, but the greeds first and foremost. You can look back at the greedy mf’s that started every single thing and they weren’t punished.
The greeds get away with it because they keep shouting “HE DID IT!” and the stupids keep falling for it.
One of my “favorite” examples of this was when Ronald Reagan murdered American Manufacturing jobs, causing mass layoffs and unemployment throughout the country, and a record high of people on welfare to deal with the job displacement… Causing the first signs of generations being born with lower standards of living than their parents.
So people naturally tarred and feathered Reagan, he’s remembered as a monster, and is the reason why the Republican Party is a faded memory that we only bring up when teaching school children about why we don’t have a Two-Party System. That wacky Trickle Down Economics… I tell ya, glad no one’s dumb enough to buy that anymore…
Oh sorry, that’s what happened in the prime timeline, here reality doesn’t run off of people learning from mistakes, this is a Murphy’s Law Ruins Based Timeline where everything that can go wrong does go wrong.
Here Reagan invented the folktale of the “Welfare Queen” to imply that black people were getting more than “their fair share” from this welfare, and that Americans would be doing fine if only this specific group wasn’t taking more welfare than they should be allowed.
A story that doesn’t make any sense since if black people were getting more in Welfare, wouldn’t Reagan be the one making that call? Ah but they thought of that, Reagan blamed a shadowy cabal of Democrats for getting the black people more then “their fair share” in a scheme to “overthrow whitey” in the name of “liberal guilt”
A story that also shouldn’t work as Democrats had neither the motive nor enough control over the government to pull off this little trick, but people are stupid, so they bought it hook, line, and sinker.
You know our reality isn’t the prime timeline, because none of this makes any fucking sense and it’s only bad writing that lets people be this fucking stupid. I can see the person in the audience cringing at the fact this reality is self-aware and seems to think pointing out the bad writing is the same as doing better.
I’m sorry audience, I wish I could join you as merely an observer who has the option to watch a better movie or read a better book, one not bound by this bullshit, but… alas, that is my fate.
So if I die in the movie, I wake up in my trailer as the actress and enjoy the privileged life that entails? Maybe I’m played by a cischick with huge cans, that’d be awesome!
Because our priorities are wrong
Owning your own home is a privilege, which wasn’t available to the general public until 19-20 century depending on a country. And it’s still not available to many in some countries.
You want too much.
It’s not a Privilege anymore, we have more than enough to provide housing for all in developed countries
Have you ever heard about the housing crisis? The UK for example has a 4.3 million homes deficit. That’s 6.3% of the population if you want to give everyone a house. But if accounting for families of at least two people, then it’s more like 12.6% of the population without homes.
The situation is very similar in most developed countries, especially in Europe. Countries like Italy and Poland have severe overcrowding, 35% of Poles don’t have enough living space (meaning they live in house shares and only have one room to themselves).
So yeah, it is a privilege. Always was. And as the worldwide population grows, housing will only become even more scarce as land is a finite resource.
Thats already where the intention starts, I never specified there are enough homes, for a reason. Not enough homes existing is just to create an artificial crisis
You literally said:
we have more than enough to provide housing for all in developed countries
That’s false. There is not enough housing all over the world, with just a few exceptions like Singapore. But it’s much better than 100-200-300 years ago. And since this thread is about home ownership specifically, home owners are only a fraction of those who actually live in good enough accommodation.
Thus returning to the original point - owning a house is a privilege. Always was and will be for a very long time. First we need to solve the housing crisis and at the very least provide council housing, but that’s not ownership, it’s just a better rent. And if the global population continues to grow then ownership will become even less accessible.
It’s not like this is a millennial thing:
- 2000-02: dot-com crash
- 1990-92: early 90s recession
- 1987: Black Monday
- Mid-1980s: Savings and Loan Crisis
- Early 1980s: Early 1980s recession
- Mid 1970s: Mid 1970s recession
And you can keep going back. Also, the plural of crisis is crises.
Masks off.
This country has always been pretty awful.
We just had a short golden age where we taxed the fuck out of rich people and were simultaneously benefitting from the spoils of a World War.
I wish I could upvote this more than once.
The economic boom the US experienced in the 1950s and 1960s was the result of:
- Pro-worker economic policies enacted during the great depression that were kept in place through WWII and remained in place until they started getting killed off in the 1970s and were fully killed off in the 1980s by Reagan.
- The top tax bracket being set at 90%.
- The US being one of the only countries that didn’t have its infrastructure absolutely trashed during WWII.
Even if the US went back to pro-worker, anti-oligarch policies, we’re unlikely to see another golden age unless there’s another world war that doesn’t damage the US. When people talk about their grandfather supporting 4 kids as a plumber, that was wonderful, but it was never the norm.
Let’s see: !lemmysilver
I wish I could upvote this more than once.
lemmysilver (with ! at the beginning) exists and you can do it once a day
I tried it out, hopefully that works.
I dont think it works for edited comments
:( !lemmysilver
I think that gave me the vote
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1987: Black Monday
That one didn’t really matter that much to regular Americans. Less than a third of Americans owned stock back then, and that crash didn’t have an obvious cause from actual economic fundamentals. And the Fed managed to contain the liquidity crisis, as your linked Wikipedia page describes, so that the broader economy was largely unaffected.
Recessions matter. Stock market crashes only matter when they are caused by, or are the cause of, an actual recession in the real world.
Gen X here, and yeah… “first time?” meme.
Reading this list from Mexico: we used to have a disastrous economic crisis every six years, without fail, as the exiting president and their accomplices took everything that wasn’t nailed, and even contracted debt so they could steal even more.
Compared to those awful decades, having no self-inflicted major crisis since 2000 has been sweet. Unfortunately, many of the people who caused those crises are in power right now, covering their backs. It’s a matter of time before the next one.
I guess my point is: people will adapt, because they have to. Many will lose a lot, but somehow will survive. Things have to get much much worse before people can’t take it anymore.
I wish your country reacts faster than mine did, and that it doesn’t fall back again like mine seems to be doing.
Mexican here. I don’t agree with you at all. To me, Mexico is finally turning into a democracy and, while things can always be better handled, things are turning for good after the horrible 2006-2018 period. About 2000-2006, yeah, it was an okay period. The president was a clown, though, but at least he was not an assassin en masse like Calderon.
Don’t bother replying to me. This is a message for the other people who reads your comment, so they know not everyone thinks like you do.
That was when the PRI won every election right?
From the outside, it’s interesting how Mexico has gone from PRI only, to PRI and PAN flipping back and forth, to now Morena winning the presidency twice in a row.
Yup, PRI started as left, enjoyed seven decades of de facto dictatorship, during which it moved to center-right, then lost two times in a row to PAN, which is right-center. PAN lost to MORENA, in great part because PRI formed an under-the-table alliance with them. MORENA says its left, but in reality it swings all over the place.
Now PRI and PAN have become shells of their former selves, and MORENA had made sure to change the electoral and legal systems so it will be very hard for them to lose. Its founder and former president had long dreamed for a de facto dictatorship return. He’s getting his son ready to take over in the next presidential election.
Mexican (and Latin American) politics are always such a mess: presidents have too much power, and many disregard the law with impunity. I’m sorry to see USA is experiencing the same, Trump should be in jail for encouraging the Capitol riots.
It’s almost like the term for a series of crises is “history” or maybe “life”. TBF, wanting to feel special is normal.
Anyone who started investing during one of those early recessions or dot com bubble made huge amounts of money after a few years.
Right now is also a great time to invest. Dont be scared and just buy stocks. None of this will matter in a few years and market will be back at its peak.
It has happened 100% of the time so far. Sometimes it takes longer than 2 years, sometimes shorter, but market always goes up.
Anyone who timed it perfectly, sure. Some people thought the market had hit bottom and it just kept falling.
It has happened 100% of the time so far
And everything that has happened in the past will definitely always happen in the future. Like, it’s June 1990 in Japan, just buy the dip. The market always goes up. It’s just a correction.
Japan is a different case. I know the idea itself is not without problems, but Japan could resolve its economic stagnation with immigration.
Ah, OK.
So, the US is going to rebound immediately from this economic crisis because it’s a country that’s so open to immigration, unlike Japan.
How do you even know that US won’t recover? People emigrating still pales compared to people immigrating. Besides, oligarchs are pissed with tanking stock markets. And these oligarchs are also of immigrant background, like Nvidia and Google CEO. They still want people to come for cheap labour and their bottomline to grow.
How do you know it will? Stagnation is a thing in the US stock market as much as ‘line go up’ is a thing.
If anything millennials have had it better than anyone else. If your brain hasn’t hemorrhaged from reading that sentence then consider that what you are saying is only being said because millennials have seen the one of most incredible bull runs ever.
If you’re 35 years old that means you started your big boy career job about 15 years ago. In other words your investment portfolio if you were one of the individuals smart enough to begin diligently investing from the start. Look at the SP500 15 years ago. It was the bottom of the recession. The SP500 has gone in a straight line up from about 700 to 6000. So only a modest what like 800% gain. Of course it’s easy to say ‘cheap stock’ every time a big drop happens.
Now look at the 15 year period after the Dotcom bust. Now try the 1970s through the better part of the 1980s. Long periods of stagnation. Sideways moving stock market.
People need to be ready to stomach effectively zero gains until age 50 as much as you can tell them the SP500 could hit 12000 in the same period. There’s no guarantees unless your frame of reference is only the past 15 years. Then of course it is easy to say line always go up.
The US market is unlikely to stagnate either in much the same way as Japan experiences it now for thirty years. As I mentioned to another poster, the US’ broad policy is being very business-friendly and immigrant-friendly, whereas Japan is only the former. Besides, oligarchs themselves are pissed. And even the staunchest Republicans who supported Trump before, motioned a bill to curb the unilateral declaration of tariffs by the executive branch to prevent this from ever happening again. I never thought in my wildest dreams to say that, for once, the market is correcting itself.
Yes, they’re immigrants, which means they’re only in the US because it had been a convenient place. Maybe now’s the time to move the entire operation to a new company. In the case of some companies like Google, who already have a worldwide presence, and already claim to do most of their business out of small tax havens, it’s probably just a matter of having some lawyers adjust a few documents and voila, they’re now based out of Malta or something.
Domiciling to a new country for tax purposes does not mean all their operations will actually go there. Even if the new country is a convenient tax haven, does the new country have educated population, large workforce, good infrastructure, good rule of law? What are the legislations and regulations like? What are the local customs and culture like? Being a tax haven is not enough if those things are not applicable and conducive to do business. You mentioned Malta, they don’t have many people for many international businesses to set up and it is corrupt compared to other EU countries.
The reason US is the dominant economic power is because of ease of doing business due to more relaxed regulation and access to huge amounts of capital. There is a reason that more US companies are thriving than in other regions. Ask any European venture capitalists and entrepreneurs as to why they came to US, and they will cite access to capital, huge manpower and market and ease of doing business-- unlike in Europe.
It is unlikely that the US market will never recover should there be another Great Depression, because Americans-- both to ordinary people and elites-- still care about capitalism. Unless the US heads into a civil war, then okay maybe the American stock market is gone for good, but as long as it doesn’t happen-- US stocks will recover. Even as we speak, the Republicans have passed a motion to restrict the executive branch from imposing tariffs unilaterally. So that is a strong indication that oligarchs won’t let the market tank. The Republicans are all too aware what happened one hundred years ago that made them in minority in both senate and congress for 60 years.
Market will and should remain nervous because of Trump, since he is not right in the head.
You dont have to time it perfectly. Even if you bought at the top, the US stocks are much higher today then in the 1990s or 2000s.
Your Japan example looks bad but seems a bit chosen as the exception to the rule. If you pick 100 countries in the west, most of them probably have better development than Japan? I havent looked but thats what I would guess. And specially the US.
Now with Trump at the wheel, all bets are off and it could very well crash more. But still, these times its good to keep buying. History has shown it pays off very much almost always.
Except when it doesn’t.
Well ok. Buy when its high prices then. Just doesnt make sense to me, but if it feels better… :)
Don’t try to time the market. Buy on a regular basis when you can afford it. And don’t assume the market is always going to go up just because it used to do that when sane people were in charge.
Thanks Gen Xer, I’ll take this advice and purchase :3
Will Smith is a bitch’s bitch
I’m on the oldest edge of Gen Z, 27 year old here.
I can maybe handle my parents promising a good life for me before rug pulling that. Well, I can’t and that’s one of the many reasons why I have mental health issues.
I don’t think they could have predicted 3 economic crashes in my life before I turn the age they conceived me.
It’s just profoundly sad that there are people who were raised for this planet and the planet has changed fundamentally in the last 20 years alone. The technology, the temperature, the expected job market, the ability to own even basic things, the political climate.
Most people on Lemmy were raised with a bright future that has been dimmed each passing year. The only light we have are those we are close to.
A big reason why the old people don’t get it, is that they see young people with luxuries, and don’t realize that luxuries, like my high end gaming PC and addiction to junkfood… Still costs less than three month’s rent no matter how much I splurge
I thought you were exaggerating but I calculated the cost of it… Damn, you’re right.
That’s really what it comes down to, Luxuries cost less, Necessities cost more
A computer is also an incredibly cost efficient luxury in the long run, You spend a decent amount on it once and then you’re good for essentially endless free content for at least a decade, maybe 5 years minnimum if you have to have the latest and greatest hardware.
Edit: Quick maths for building a new PC every 5 years with flagship (though not Halo stuff like 90 series) hardware works out about 10 eurodolarpounds a week.
Plus quite a few luxuries are now necessary, like a good smartphone, laptop/computer and a car (in more rural areas).
The few sort of luxuries you splurge on are what keeps you from losing your sanity
Ya know I’m gonna feel real stupid stockpiling this Steam games if Valve ever becomes a publically traded company, especially if they become ban happy like Reddit or VRChat
Edit: For the record, no I’m not banned from VRChat, I don’t use it, I prefer Resonite, but I have heard horror stories of people getting 6 days bans for no reason out of the blue with staff refusing to elaborate.
I’m turning 42 this summer. I’m considered an “elder millennial”.
I’m 46 this year, which apparently makes me a Xennial. I had the tail end of public hysteria around the cold war to deal with too.
I’m 50 this year, which makes me a bit on the younger side of Gen X, and it weren’t no joy ride for us, either.
Boomers really robbed us all.
Elder Millennial sounds like a main quest giver.
While being called lazy
I feel like I live in interesting times, and understand why it’s used as an insult
GNU Terry Pratchett
Add a few more things for Millennials who were born in the 80’s.
I’m tired, boss
