I think you just keep adding more ‘is’ to the ending depending on how severe the event is
crisis - your toast is burnt
crisisis - your toast is on fire
crisisisis - your toast is on fire and the flames have spread through your kitchen
crisisisisis - your toast fire has spread to your house and your neigbhours house
crisisisisisis - your toast fire has opened a massive portal to hell
crisisisisisisisis - your toast has opened a portal to hell and has allowed Satan and his minions into our realm
You saying that someone’s going to make a remark at my wife on a public stage and I’m going go up and slap them in front of everyone for a minor faux pas?
Re-basing currency. Basically the mint makes “old money” worthless overnight, and “new money” is printed that has value that is more realistic. You get a window to buy new money with old money, and then that’s it. I have no idea how that happens with digital accounting, but would obviously need to be a thing too. Point being: it’s possible for inflation to be so horribly mismanaged that you have to declare a do-over to fix it.
Zimbabwe is the current poster child for this, where trillion-dollar notes were exchanged for single-dollar amounts on their third attempt of re-basing. But other countries like Iceland have done this in the not too distant past.
I’ll add that with the US dollar being a de-facto reserve currency just about everywhere, the %1 is in the same boat with the rest of us. So I wouldn’t expect things to get that dire. It might get re-based eventually, but probably more of a “let’s move the decimal point over because this looks stupid” kind of a thing.
Don’t worry, the real economic crisis is just now coming with the Fed planning on raising interest rates next year. That’s been a pretty reliable indicator that shit is about to hit the fan for the last few financial crisis. What we got after the Pandemic was just a little entrée.
I think the Fed said they will start lowering rates, maybe by 1%. But, yeah, this means they think they’ve got inflation under control, and worried about slow growth or decline in 2024-2025. I’ve heard speculation that OPEC may cut oil production to increase inflation before the election in an attempt to make Trump more likely to win, so dunno how the Fed will respond to that, if it happens. Inflation caused by supply shocks could also slow real growth.
I feel like your generation really got poisoned by the boomer lies…“trust the system, put in your time, and you’ll get your turn on top if you work hard”
Most of your cohorts just seem to be wandering around confused, struggling to reconcile their worldview with the reality that everything sucks (and is rapidly getting worse)
Not to dump on gen Xers but lets not give them too much woe(Note this is going to be more a US perspective). Yeah they grew up during(and were) the crime boom of the mid century that plagued American cities. Yeah they had the oil crisis and the dot com bubble. Yeah they were old enough to buy houses during the housing bubble bursting.
Lets not also forget they were born 1965-1980. They were the tail end of being able to work up a company, they were a gen that still came into an office to still turn in applications in person and all that dated cliche stuff an older family member tells you to do if your unemployed. Theyre the ones who got alright enough paying jobs doing things like data entry while complaining about it. Theyre the ones who were the right age during emerging tech industry to do things like take a quick community college network certification course and now are making six figures as head of IT department. Theyre the ones who picked up those high paying independent reporter jobs before print media started dying off when the getting was still good. They were the ones who were at prime earning and home buying age before the market became nationwide screwed. Yes the interest rate was higher, but that meant it wasnt as attractive of an investment or business opportunity which meant prices were lower.
But again it all depends who you are. The US went through some insane times in the mid century with urban decline thanks to sprawl and white flight, factories shutting down and de-industrialization, consolidation of banks and regional franchises and other businesses(leading to layoffs and in some cases the death of said merged company all together), and multiple collapses, the crack epidemic, aids and etc. And of course its not like gen xers or even boomers died once the elder millennials turned 18, they also experience covid, and the housing bubble crashing.
Generations cutoffs are a messy thing and the cutoffs are vague(like its already been a few years and the cutoff for gen z is still ambiguous) but generally yeah the cutoff is generally around 1980 or 1979.
Yeah I’m ‘84 - I’m either young gen x or old millennial. I dunno, does it really matter?
I’ve heard the best way to split it is if the person remembers the Berlin Wall coming down. I only remember it as being a semi-recent historical event when I was a kid, which would make me a millennial.
However, my brother is ‘80 and he says he remembers it coming down so that would make him Gen X using this method.
Either way, I like this method better than trying to draw a line at a specific date.
I think the split between boomers and gen x is watergate.
The split between millennials and gen Z would be if a person remembers 9/11.
Covid is probably where I’d put the split between Zoomers and whatever.
Perhaps some gen-x’s, much like any other generation, got lucky, but the majority of us are still trudging through the shit trying to make ends meet as well. It all falls to greed. Specifically corporate greed that has created this huge gulf of disparity. It’s the same thing the farther you look back into history as well. Limited wealth and scarcity of resources will ensure that this sort of thing continues well past we are dead and gone. Cheers lol
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