the conclusion that young adults’ personal spending habits are to blame.
At what point did I ever suggest anything close to a conclusion or blame? But since you didn’t ask, I blame Reaganomics, consumerism, and the deregulation of Wall Street. I blame the exportation of jobs for pennies and the mistreatment of workers. I blame disinterest and carelessness and I blame our value and reward of ownership over generosity. I blame “The New American Dream”.
Can’t you stop whining about being a victim for a moment and consider the implications of studying the history of economic and personal finance patterns to plan for the future? I am utterly bored of the repetitive copy/paste talking points and the whining with zero proposals for a solution other than “the boomers did it to us” and we’re all out of ideas.
Look at the real historical data. Present hard evidence and propose how the country is doomed for economic turmoil in ten to twenty years. A couple of charts and anecdotal polls aren’t going to push congress to do anything. No one cares if you can’t afford to buy a car when the economy says people are loaded with money right now. I mean, General Motors just had their best year since 2019 so they don’t care if young people aren’t buying cars. So prove them wrong. I want to prove them wrong - why don’t you?
This is what I mean by you can’t fix people’s narratives. You’re blinded by your grief. No one is saying it’s your fault. You, like the boomers before you, are so self-centered that, unless you get your faces out of your screens and fix this shit, you’ll end up being responsible for a country worse than it’s ever been (slavery aside / if it makes it through this election cycle). I’m absolutely terrified for future generations.
I really don’t get it. I don’t get all the stories and anecdotes and complaining yet no one has provided a full story of the reality of personal finance over the decades. Maybe this does exist and I just don’t know it - it’s probably paywalled. But it seems that without it, this “discussion” exists to divide us and generate clicks and ad revenue and political and corporate control. It’s bullshit.
“Purchasing power” is the metric I’ve been thinking about.
This decline in purchasing power means low-wage workers have to work longer hours now just to achieve the standard of living that was considered the bare minimum half a century ago. epi.org/…/raising-the-federal-minimum-wage-to-15-…
Here specifically is the web page I’ve kept in mind when referring to productivity (and I admit that off the top of my head “the 70s” was a bit off).
In fact, had the federal minimum wage kept pace with workers’ productivity since 1968 the inflation-adjusted minimum wage would be $24 an hour. aflcio.org/what-unions-do/…/minimum-wage
I concede that “young adults” and “low wage workers” shouldn’t be confused.
I’ve edited my previous comment. Thank you for the point.
I can’t fix people’s narratives. I’m asking for data to illustrate the measurable impact of the economy on people’s personal finance and leisure over the decades.
For one example, to compare 2020 to 1960, what is considered “leisure”, what does that cost, and what percentage of a person’s income is spent on it. I’m not really interested in polls where “Gen Z says they’re struggling to afford a car” because that’s subjective and relative. It’s not at all about questioning their anecdotes; I’m curious what the graph or pie chart looks like over the decades.
I think, and am asking for something to prove me right or wrong simply because I’m curious, that there’s more leisure and luxury available to all people today than ever before. And I feel pretty strongly that the culture of consumerism has grown much stronger over the past 30-50 years making everyone feel like they need to spend more than they were in the first half of the last century.
Productivity Purchasing Power in The United States peaked in the '70s late '60s. The country’s overall productivity sucks today [see below comments]. I believe the numbers show that we’re all spending more of our income than we ever have before. And for those “earning” a salary based on archaic values set decades ago, it’s certainly logical they’d be most hurt by the culture of consumerism that’s so rampant today.
Also, I’d be very interested to compare the graphs to credit card debt over time. It’s too easy to click a button on our phones now to have something charged to a card without the stress of seeing it coming directly out of our checking account. This use of technology, I think, is a real factory for younger people who haven’t grown up learning how to balance a checkbook or the need to save real cash money to make major purchases. The success of services like Mint and Acorn and Chime indicate this isn’t my imagination.
No one likes when someone says your opinion is irrelevant when they’re asking for tangible numbers. I’m well aware that the economy is harder for young adults today. I’m also well aware that most people on the internet are ultra-sensitive and lack reading comprehension. There’s a large segment of the internet that can’t be bothered to read more than headlines and watch ten second TikTok videos. I know younger people aren’t the only ones guilty of this, but I have doubts they’re not the primary culprits.
Good info. Yeah, I’m just curious to see a clear comparison laid out. I think being able to literally visualize it would be more conducive to the ongoing conversation. Tough to trust what one cohort on the internet says about their personal experience. Seems like everyone online is broke yet increasing interest rates tell another story about the market overall.
Agreed. Moreover, I’d like some more insight in the consumer patterns of Gen Z. A pie chart would be nice including groups like eduction, healthcare, subscription services, entertainment, etc.
I have a feeling, without the data, that a lot of young people are spending way more on novelty and entertainment things than ever before while they’re complaining about not being able to afford things.
The Fairness Doctrine only applies to network television, which Fox News need not abide by.
The report by the Congressional Research Service notes that broadcast is "distinct from cable, satellite, and the Internet, which are all services for which consumers must pay.
“It does not appear that the Fairness Doctrine may be applied constitutionally to cable or satellite service providers,” it continues.
This question could easily be a college thesis, if not an entire course. I think anyone asking this question and learning more about Reagan is on the right track to better understanding… I really want to say ‘everything’. Politics, human nature, consumerism, economics, negotiation, propaganda, cover ups, racism, homophobia, the fallacy of Democracy, and so so much more.
If you’re any more interested in the subject than reading through a handful of comments on the internet, I recommend the book “The Man Who Sold the World: Ronald Reagan and the Betrayal of Main Street America”.
As a former UI I artist, I wholeheartedly disagree. The interfaces and operating systems that I’ve struggled with recently go against human interface guidelines. It’s more likely that middle management is creating projects to make themselves seem more relevant. Or, in the case with Apple, my assumption is that upper management is trying to push all their other devices towards synergy with Vision Pro - a product which has yet to hit market and find acceptance.
iPhones are far too big and have too many huge cameras for me. Everything requires a subscription or some login to do anything. Applications and operating systems are updated at the whims of CEOs while the job of UX designers is de-prioritized. Software updates keep breaking established workflows. I can no longer rely on devices or apps to maintain a consistent experience from one year to the next. It’s just been years and years and years of disappointment and stress as technology changes for the worse.
All this is pushing me towards a more unplugged lifestyle. Which is a bit ironic given how it adds more complexity with the need to own and travel with more things. A bag of five ‘things’ that always work regardless of network connection is better than a little tablet that could crash or die or be updated at any moment and having a significant impact on your lifestyle.
There’s just no fucking zen anymore. I feel like I’m living inside a simulation built by the same people who brought us Windows 95.
I’m not getting into how long a copyright should last. I don’t have a meaningful opinion on it.
What it seems people are overlooking (or forgiving?) is that the guy published a book about characters (IP) he doesn’t own. Taking something that doesn’t belong to you is theft.
Whether or not Amazon should option his material is irrelevant if he didn’t get permission to use it in the first place. I mean, fan fiction is one thing. Creative license and educational purposes could be argued. But he published a freaking book!
Do you think Zack Snyder should get to put out a Rebel Moon and call it “Rebel Moon: A Star Wars Story” without getting permission or paying for licensing? Is this the reality this sub believes we live in? If you write a novel and I read it and soon start writing better more successful stories based explicitly on your characters without crediting you or sharing in my profit, how would you feel? Should your work be public domain? Is that what you (collective) feel is best for “the public”?
I don’t really have an opinion on what should happen with the work either. I could see some cases where it would be a major loss for the public to have the work erased. This could be catastrophic for classic literature. For something so new and not having any established cultural significance (as much as you wish it did), I’d go with whatever a judge believes is best under the law. You’re welcome to argue the validity of the law, and I may agree with you, but that’s a different conversation.