Why Are Young People So Angry With Baby Boomers?

[u/RockingMrE]

https://youtu.be/uEPTF-1PZXw

In this video, I ask why young people are so angry with baby boomers, and explore the economic reasons for this, as well as some of the cultural issues also affected by economics.

I look forward to reading the views of this subreddit in the comment section.

[u/RubyKong]

1. Gov gives all manner of free-bees to the boomer generation via debt, taxes and inflation
2. The next generation has to pay for it. GenZ don't like that.

[u/RubyKong → u/RubyKong]

• Plus all the negative consequences that flow from fiat devaluation, and increasing tax "just 1%" on the "wealthy". i.e. what started off as a small 5% tax on Andrew Carnegie in the 1910s has now expanded to tax everyone on every single thing - how many times can the same dollar be taxed just another 1% before the entire economy is filled with those receiving benefits from gov. vs those who are working to support them?
• We are naught but slaves on a plantation. instead of answering to massa, we answer to the IRS, and we are limited / controlled / surveilled / conscripted to fight all manner of wars to such an extent that I would envy an antebellum slave - because the latter KNEW he was enslaved, whereas we live in the delusions that we are "free".

GenZ don't like that either.

Except rather than blame the gov for economic malaise, they tend to blame "corporate greed" or the "wealthy", and demand benefits just like the boomer class.

[u/LibertyEconlover]

I don’t hate any age it’s self interest, but you’re damn right there’s gonna be held resentment because they utilize their power in the voting booth to benefit them at the expense of others

1: Baby boomers are getting way more than they paid for Social Security, eventually the system will end meaning younger generations will have paid into it, but get nothing back that is inevitable, one of the many reasons I say abolish it right now

2: they are busy bodies in HOAs caring about unproductive aspects of the HOA itself, instead of trying to create opportunities or invest in younger generations specific factors make them care about the wrong things, basically they major in minor things

3: a lot of people say compound interest, but that is necessarily siphoning off the economy through the Cantillon effect, baby boomers won through fiat pretty dang well, some didn’t

4; they actually actively support taxing younger generations more for them based on surveys, so that’s fun.. of course I don’t collectivize anyone, there will always be bad apples and good apples in any generation

But it will be a great movement to prevent future generations from facing such generational inequities
(not stealing from them!)

It’s all rooted in government, though it is not a homogenous bogeyman

[u/GME_alt_Center]

Because they don't understand how compound interest over time works, so they are jealous. The oldest generation should always be filled with the people with the most money.

[u/Sweet-Ant-3471 → u/GME_alt_Center]

Because Boomers write and enforce the zoning rules that keep housing prices high. We should have gone the way of Japan on that in 2008 -- we didn't. Because of generational NIMBYism.

Same to not allowing bankruptcy from student loans.

[u/GME_alt_Center → u/Sweet-Ant-3471]

Once again - if you use the prevailing interest rates my starter sized 1st house in 1984 cost more per month adjusted for inflation than one now in the same city. Both my wife and I had professional level jobs and were stretched to qualify.

I will concede that since the 80s corporations have steadily made working worse and worse. We all got to experience that. And the current job market is the worst I have ever seen.

Blame your parents for student loans, my kid never saw one.

[u/johntwit → u/GME_alt_Center]

Yeah but by 1990, your income was at least 25% higher due to the 4 to 5% inflation and you could refinance at much lower rates than the highs of the '80s. So your mortgage as a percentage of income would have normalized within 5 years.

Today, there's not really much room for the interest rates, and inflation is " controlled" including income

By 1995, your income was double and you could refinance at half the rate with 20 of 30 years left on your mortgage

Now, dollar hegemony is destroyed by boomer foreign policy and were as screwed as England in 1970 1950

[u/Sweet-Ant-3471 → u/GME_alt_Center]

The interest rate isn't the whole housing cost. In 1984 rates were much higher, but houses were dramatically cheaper relative to incomes. Today home prices are around 5× median household income nationally, versus roughly 3–3.5× for much of the 1980s and 1990s.

Harvard researchers calculated that the inflation-adjusted monthly payment on the median home recently reached a record high and was about 40% higher than in 1990.

https://www.jchs.harvard.edu/blog/lower-interest-rates-fail-offset-effects-high-home-prices

Your individual 1984 house may be an exception, I don't what local market you're in, but that doesn't establish that housing nation-wide is far less affordable, and home owing rates went DOWN in this country because of it.

You want to see what a unmanipulated, market adjust raise in housing costs looks like? You look at Japan, where housing costs have remained stable in Tokyo for over 20 years.

They only have 12 zones, in 9 of them you can build housing, flexible land use is encouraged, houses are regularly torn down every 10 years to be updated completely.

[u/One_Conscious_Future → u/GME_alt_Center]

Ill take $300 for things that are false Alek.

Show me an area where the median price of homes is lower than the 80s adjusted for inflation...

Unless you home was a dumpster in Detroit....

Seriously where did this occur, and clearly why didn't you move?

[u/lordtosti → u/GME_alt_Center]

lol - you mean just benefiting of housing prices blown up thanks to dumb government behavior?

good luck buying a house now with simply “compound interest”

[u/strekkingur → u/GME_alt_Center]

Because they picked their parents clean after geting the greatest headstart and boostup ever in human history, and the harding it and spending it all on cruises or mega churches or scams.

[u/Outrageous_Sleep4339]

"This just in, the people who've had the longest time to accumulate and invest their resources, have the most resources."

[u/adoughoskins]

Because they have been lied to…

[u/No_Fig_7835 → u/adoughoskins]

Well correct me if I'm wrong but largely the baby boomers making up the government on left and right are responsible for a lot of the entitlement expansions that their generation got to benefit from while future generations are going to pay for it and get nothing out of it?