There has been extensive talk about how social security systems around the globe are having issues due to declining birth rates as well as a decline in the quality of employment for younger generations.
But another less often talked about issue is that almost nobody is able to make savings anymore.
Think about it. We all know at least some boomers. Most of them bought a car in their teens, a house in their thirties, went on frequent vacations and still even with all that were saving money beyond just for retirement savings.
Since that time, wage growth had stagnated, house prices have skyrocketed, and the purchasing power of the average salary has been going down.
So aside of the social security bubble potentially bursting in the future, there's also a bigger underlying issue.
Purchasing power has only been getting worse from generation to generation, and thus being able to make any savings is already a distant dream for most. Younger people just keep working more for less, to s point now where mostworking people can't put even a single dollar aside.
Could there be a solution for these issues? Economists have long argued about the strengths and failures of our economic system, but alas it appears as though "trickle down economics" has failed humanity.
So, do you agree that radical changes are needed?
Which is why I think an economic crash is nigh and necessary at this point. And while it's definitely gonna cause a lot of death and starvation amongst those below the poverty line, I see this as a reset that would allow people to have the same amount of purchasing power as our forefathers did in the past. See, the wage gap is increasing yearly and there's nothing that we can't do about it. House prices are skyrocketing, making it impossible for us to even dream of owning our very own houses. The final straw for me is the fucking payment arrangement pizza where you can pay your pizza in installments, at this point I'm sure we're already in the end times of the economy. Soon as a crash happens houses will be dirt cheap, jobs are going to be easier to come by and would pay comfortable rates, and so on. But another less often talked about issue is that almost nobody is able to make savings anymore.
Think about it. We all know at least some boomers. Most of them bought a car in their teens, a house in their thirties, went on frequent vacations and still even with all that were saving money beyond just for retirement savings.
Since that time, wage growth had stagnated, house prices have skyrocketed, and the purchasing power of the average salary has been going down.
So aside of the social security bubble potentially bursting in the future, there's also a bigger underlying issue.
Purchasing power has only been getting worse from generation to generation, and thus being able to make any savings is already a distant dream for most. Younger people just keep working more for less, to s point now where mostworking people can't put even a single dollar aside.
Could there be a solution for these issues? Economists have long argued about the strengths and failures of our economic system, but alas it appears as though "trickle down economics" has failed humanity.
So, do you agree that radical changes are needed?
I don't mean to be the end of the world guy of this forum but as it stands today it seems as though that's what's being laid in front of us. The good thing is that if we make it out alive we're going to experience one of the most fulfilling economic times in the history of man. So I guess it's those instances where you use radical solutions for radical problems lol.